Document:

Exhibit 10.2

 

HOME BANK, N.A.

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This AMENDED AND
RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the 20th day of May, 2019,
between Home Bank, N.A. (the “Bank” or the “Employer”), a nationally chartered bank which
is the wholly owned subsidiary of Home Bancorp, Inc. (the “Corporation”), and John W. Bordelon (the “Executive”).

 

WITNESSETH

 

WHEREAS, the
Executive is currently employed as the President and Chief Executive Officer of the Bank, and the Executive and the Bank have previously
entered into an amended and restated employment agreement dated March 28, 2011, as amended (the “Prior Agreement”);

 

WHEREAS, the
Executive is currently employed as the President and Chief Executive Officer of the Corporation, a Louisiana corporation;

 

WHEREAS, the
Board of Directors of the Bank (the “Bank Board”) has reviewed the Executive’s performance and has determined
that it is in the Bank’s best interests to extend the term of the Bank’s employment agreement with the Executive;

 

WHEREAS, the
Bank desires to assure itself of the continued availability of the Executive’s services as provided in this Agreement;

 

WHEREAS, the
Bank desires to amend and restate the Prior Agreement in order to make certain changes;

 

WHEREAS, the
Executive is willing to serve the Bank on the terms and conditions hereinafter set forth; and

 

WHEREAS, the
Executive is concurrently entering into a separate amended and restated employment agreement with the Corporation (the “Corporation
Agreement”).

 

NOW THEREFORE,
in consideration of the mutual agreements herein contained, and upon the other terms and conditions hereinafter provided, the Bank
and the Executive hereby agree as follows:

 

1.            Definitions.
The following words and terms shall have the meanings set forth below for the purposes of this Agreement:

 

(a)          Annual
Compensation. The Executive’s “Annual Compensation” for purposes of determining severance payable under this
Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) any Incentive
Compensation or other cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which
the Date of Termination occurs.

 

(b)          Base
Salary. “Base Salary” shall have the meaning set forth in Section 3(a) hereof.

 

     

     

    

 

(c)           Cause.
Termination of the Executive’s employment for “Cause” shall mean termination because of, as determined by Bank
Board acting in good faith:

 

(i)          any
act by Executive of fraud against, material misappropriation from, or material dishonesty to the Bank;

 

(ii)         conduct
by Executive that amounts to willful misconduct, gross and willful insubordination, or gross neglect in the performance of Executive’s
duties and responsibilities hereunder;

 

(iii)        Executive’s
conviction of, indictment for (or its procedural equivalent), or entering of a guilty plea or plea of no contest with respect to,
a crime involving breach of trust or moral turpitude or any felony;

 

(iv)        receipt
of any form of notice, written or otherwise, that any regulatory agency having jurisdiction over the Bank intends to institute
any form of formal or informal regulatory action against Executive;

 

(v)         Executive’s
removal and/or permanent prohibition from participating in the conduct of the Bank’s affairs by an order issued under 12
U.S.C. Section 1818(e) or (g);

 

(vi)        the
exhibition of a standard of behavior within the scope of or related to his employment that is materially disruptive to the orderly
conduct of the Bank’s business operations (including, without limitation, substance abuse or sexual harassment or sexual
misconduct that violates federal or state law); or

 

(vii)       a
material breach of the terms of this Agreement by Executive not cured by Executive within thirty (30) days of the date the Executive
received the Notice of Termination, and, in the event Executive does not cure any such condition, the Bank terminates his employment
within thirty (30) days after the period for curing the condition has expired. If the Executive remedies the condition within such
thirty (30) day cure period, then no Cause shall be deemed to exist with respect to such condition; provided, that the Executive
shall not have the opportunity to cure if the breach is not susceptible to being cured or such an opportunity would otherwise conflict
with applicable federal or state regulatory requirements;

 

provided, that the nature of any act, conduct,
behavior, breach or other circumstances constituting Cause shall be set forth with reasonable particularity in a written notice
to the Executive that states the facts upon which the Bank Board made such determination.

 

(d)          Change
in Control. “Change in Control” shall mean a “change in the ownership of the corporation,” a “change
in the effective control of the corporation,” or a “change in the ownership of a substantial portion of the assets
of the corporation” within the meaning of Treasury Regulation 1.409A-3(i)(5). For purposes of the preceding sentence, “the
corporation” refers to the Corporation or the Bank. Notwithstanding the foregoing, the following shall not be deemed to result
in a Change in Control: (i) any acquisition by any employee benefit plan (or related trust), including but not limited to, an employee
stock ownership plan as defined in Section 4975(e)(7) of the Code, sponsored or maintained by the Employer or any corporation controlled
by the Employer; or (ii) any merger, consolidation, reorganization, share exchange or other transaction as to which the holders
of the capital stock of the Employer before the transaction continue after the transaction to hold, directly or indirectly through
a holding company or otherwise, shares of capital stock of the Employer (or other surviving company) representing more than fifty
percent (50%) of the value or ordinary voting power to elect directors of the capital stock of the Employer (or other surviving
company).

 

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(e)           Code.
 “Code” shall mean the Internal Revenue Code of 1986, as amended.

 

(f)           Competitive
Business. “Competitive Business” shall mean an enterprise that is in the business of offering banking products
and/or services, which services and/or products are similar or substantially identical to those offered by the Bank during Executive’s
employment with the Bank.

 

(g)          Date
of Termination. “Date of Termination” shall mean (i) if the Executive’s employment is terminated for Cause,
the date on which the Notice of Termination is given, and (ii) if the Executive’s employment is terminated for any other
reason, the date specified in such Notice of Termination.

 

(h)          Effective
Date. The Effective Date of this Agreement shall mean the date first written above.

 

(i)            Disability.
 “Disability” shall mean the Executive (i) is unable 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, or (ii) is, 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, receiving
income replacement benefits for a period of not less than three months under an accident and health plan covering employees of
the Employer.

 

(j)            Good
Reason. “Good Reason” means the occurrence of any of the following conditions:

 

(i)          any
material breach of this Agreement by the Bank, including without limitation any of the following: (A) a material diminution in
the Executive’s Base Salary, (B) a material diminution in the Executive’s authority, duties or responsibilities as
prescribed in Section 2, or (C) any requirement that the Executive report to a corporate officer or employee of the Bank instead
of reporting directly to the Bank Board, or

 

(ii)         any
involuntary material change in the geographic location at which the Executive must perform his services under this Agreement for
a period of more than 90 days;

 

provided, however, that prior to any termination
of employment for Good Reason, the Executive must first provide written notice to the Bank within ninety (90) days of the initial
existence of the condition, describing the existence of such condition, and the Bank shall thereafter have the right to remedy
the condition within thirty (30) days of the date the Bank received the written notice from the Executive. If the Bank remedies
the condition within such thirty (30) day cure period, then no Good Reason shall be deemed to exist with respect to such condition.
If the Bank does not remedy the condition within such thirty (30) day cure period, then the Executive may deliver a Notice of Termination
for Good Reason at any time within sixty (60) days following the expiration of such cure period.

 

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(k)           Notice
of Termination. Any purported termination of the Executive’s employment by the Bank for any reason, including without
limitation for Cause or Disability, or by the Executive for any reason, including without limitation for Good Reason, shall be
communicated by a written “Notice of Termination” to the other party hereto. For purposes of this Agreement, a “Notice
of Termination” shall mean a dated notice which (i) indicates the specific termination provision in this Agreement relied
upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated, (iii) specifies a Date of Termination, which shall be effective immediately if the
Bank terminates the Executive’s employment for Cause, and (iv) is given in the manner specified in Section 13 hereof.

 

(l)            Territory.
 “Territory” shall mean, to the extent the Bank carries on business therein, (i) Acadia, Calcasieu, East Baton Rouge,
Jeff Davis, Jefferson, Lafayette, Orleans, St. Martin and St. Tammany Parishes, Louisiana, (ii) Adams and Warren Counties, Mississippi,
and (iii) in the event that the Bank expands the geographic reach of its business to other parishes or counties, the definition
of Territory shall expand to include such additional parishes or counties. In any such case, the Executive agrees to execute and
deliver an amendment hereto adding the additional parishes or counties, upon payment to the Executive by the Bank of the sum of
one hundred dollars ($100).

 

2.            Term
of Employment and Duties. 

 

(a)           The
Bank hereby employs the Executive as the President and Chief Executive Officer of the Bank, and the Executive hereby accepts said
employment and agrees to render such services to the Bank on the terms and conditions set forth in this Agreement. The terms and
conditions of this Agreement shall be and remain in effect during the period beginning on the Effective Date of this Agreement
and ending on the third anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to Section 2(b)
hereof (the “Employment Period”).

 

(b)          At
least thirty (30) days prior to the first anniversary of the Effective Date and each anniversary of the Effective Date thereafter
(the “Renewal Date”), the Bank Board shall consider and review (after taking into account all relevant factors,
including the Executive’s performance hereunder) whether it is in the best interests of the Bank to extend the term of this
Agreement. If the Bank Board determines that an extension of the term of this Agreement is in the best interests of the Bank, then
the Bank Board may approve a one-year extension of the term of this Agreement effective as of the Renewal Date, in which case the
term of this Agreement shall be extended for one additional year, unless the Executive gives written notice to the Employer of
the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior
to any such Renewal Date. The Bank Board agrees to inform the Executive not less than thirty (30) days prior to any such Renewal
Date as to whether or not the Bank Board elected to extend the term of this Agreement. If the Agreement is not extended as of any
Renewal Date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this
Agreement shall refer both to the initial term and successive terms.

 

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(c)           Nothing
in this Agreement shall be deemed to prohibit the Bank at any time from terminating the Executive’s employment as President
and Chief Executive Officer during the Employment Period for any reason, provided that the relative rights and obligations of the
Bank and the Executive in the event of any such termination shall be determined under this Agreement.

 

(d)          During
the term of this Agreement, the Executive shall manage the operations of the Bank and oversee the officers that report to him.
The Executive shall also oversee the implementation of the policies adopted by the Bank Board and shall report directly to the
Bank Board. In addition, the Executive shall perform such executive services for the Bank as may be consistent with his titles
and from time to time assigned to him by the Bank Board.

 

3.            Compensation
and Benefits. 

 

(a)           The
Employer shall compensate and pay the Executive for his services during the term of this Agreement at a minimum base salary per
year that is no less than the amount paid to Executive as of the Effective Date of this Agreement (“Base Salary”),
which amount may be increased from time to time in such amounts as may be determined by the Bank Board and may not be decreased
without the Executive’s express written consent. The Executive and the Bank acknowledge that a portion of the Base Salary
may be paid by the Corporation pursuant to the terms of the Corporation Agreement for services rendered to the Corporation by the
Executive pursuant to his service as President and Chief Executive Officer thereof, and the Executive and the Bank further acknowledge
and agree that the combined Base Salary paid to the Executive each year by the Corporation and the Bank shall be the amount set
forth above, as increased from time to time by the Bank Board.

 

(b)          Subject
to applicable law, including any required regulatory approval, for each calendar year during the Employment Period, Executive shall
be eligible to participate in an annual incentive bonus plan that by its terms provides financial awards that are no less in bonus
value or greater in performance levels than plan terms offered to other senior executives of the Bank, with award opportunities
approved from year to year by the Bank Board (“Incentive Compensation”). Threshold, target and maximum corporate
performance levels shall be established by the Board of Directors of the Corporation or the Bank Board, as applicable, from year
to year based on budget, earnings growth, profitability, asset quality, qualitative risk measures and such other performance metrics
as either such board reasonably may determine and shall be outlined in the specific award opportunity. The performance measures
for any given year shall be set no later than December 31st of the year preceding the performance year of Incentive
Compensation eligibility. Entitlement to and payment of such Incentive Compensation is subject to the discretion and approval of
the Board of Directors of the Corporation or the Bank Board, as applicable. Any Incentive Compensation earned shall be payable
no later than March 15th of the year following the year in which the bonus is earned, in accordance with the Employer’s
normal practices for the payment of short-term incentives. To be entitled to any payment of Incentive Compensation, Executive must
be employed by the Employer on the last day of the applicable performance period. The payment of any Incentive Compensation shall
be subject to any approvals or non-objections required by any regulator of the Employer, and the obligation to pay any such Incentive
Compensation shall be rendered null and void to the extent the same is then prohibited by any applicable law or regulatory restriction.

 

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(c)           Executive
will be eligible to participate in any stock option plan, restricted stock or long-term equity incentive plans offered by the Corporation,
similar to that offered to other senior executives on terms consistent with Executive’s position with the Corporation.

 

(d)          Executive
and Executive’s family shall be eligible for participation in and shall receive all benefits under any health and welfare
benefit plans, practices, policies and programs provided by the Bank, to the extent applicable to similarly situated executives
of the Bank and subject to the terms, conditions and eligibility requirements (including any required premium payments or other
costs) therefore as may be prescribed by the Bank or set forth in the terms of such plans, practices, policies and programs from
time to time.

 

(e)           During
the term of this Agreement, the Executive shall be entitled to participate in and receive the benefits of any pension or other
retirement benefit plan, profit sharing, employee stock ownership, or other plans, benefits and privileges given to employees and
executives of the Employer, to the extent commensurate with his then duties and responsibilities, as fixed by the Bank Board. The
Bank shall not make any changes in any compensation or other plans, benefits or privileges which would adversely affect the Executive’s
rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all executive officers of the Bank
and does not result in a proportionately greater adverse change in the rights of or benefits to the Executive as compared with
any other executive officer of the Bank. Nothing paid to the Executive under any plan or arrangement presently in effect or made
available in the future shall be deemed to be in lieu of the salary payable to the Executive pursuant to Section 3(a) hereof.

 

(f)           Except
as otherwise agreed between the Corporation and the Bank, the Executive’s compensation, benefits and severance set forth
in this Agreement shall be paid by the Corporation and the Bank in the same proportion as the time and services actually expended
by the Executive on the business of the Corporation and the business of the Bank, respectively, with any amounts paid by the Corporation
to be credited towards the obligations of the Bank under this Agreement. For this purpose, the Executive shall maintain, and provide
to the Bank on at least a monthly basis, documentation of the time and expenses expended by the Executive on the business of each
of the Corporation and the Bank. No provision contained in this Agreement shall require the Bank to pay any portion of the Executive’s
compensation, benefits, severance and expenses required to be paid by the Corporation pursuant to this Agreement or the agreement
of even date being entered into between the Corporation and the Executive.

 

(g)          The
Executive agrees to repay any compensation previously paid or otherwise made available to the Executive under this Agreement that
is subject to recovery under any clawback or compensation recovery policy as may be adopted from time to time by the Employer or
under any applicable law (including any rule of any exchange or service through which the securities of the Corporation are then
traded), including, but not limited to, the following circumstances:

 

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(i)          where
such compensation was in excess of what should have been paid or made available because the determination of the amount due was
based, in whole or in part, on materially inaccurate financial information of the Bank;

 

(ii)         where
such compensation constitutes “excessive compensation” within the meaning of 12 C.F.R. Part 30, Appendix A;

 

(iii)        where
Executive has committed, is substantially responsible for, or has violated, the respective acts, omissions, conditions, or offenses
outlined under 12 C.F.R. Section 359.4(a)(4); and

 

(iv)        if
the Bank becomes, and for so long as the Bank remains, subject to the provisions of 12 U.S.C. Section 1831o(f), where such compensation
exceeds the restrictions imposed on the senior executive officers of such an institution.

 

Executive agrees to return
within sixty (60) days, or within any earlier timeframe required by applicable law or any recoupment policy, any such compensation
properly identified by the Bank by written notice. If Executive fails to return such compensation within the applicable time period,
Executive agrees that the amount of such compensation may be deducted from any and all other compensation owed to Executive by
the Bank. The provisions of this subsection shall be modified to the extent, and remain in effect for the period, required by applicable
law.

 

4.            Expenses.
The Employer shall reimburse the Executive or otherwise provide for or pay for all reasonable expenses incurred by the Executive
in furtherance of or in connection with the business of the Employer, including, but not by way of limitation, automobile expenses,
traveling expenses, and all reasonable entertainment expenses (whether incurred at the Executive’s residence, while traveling
or otherwise), subject to such reasonable documentation and policies as may be established by the Bank Board. If such expenses
are paid in the first instance by the Executive, the Employer shall reimburse the Executive therefor. Such reimbursement shall
be paid promptly by the Employer and in any event no later than March 15 of the year immediately following the year in which such
expenses were incurred.

 

5.            Termination.

 

(a)           The
Bank shall have the right, at any time upon prior Notice of Termination, to terminate the Executive’s employment hereunder
for any reason, including without limitation termination for Cause or Disability, and the Executive shall have the right, upon
prior Notice of Termination, to terminate his employment hereunder for any reason.

 

(b)          In
the event that the Executive’s employment is terminated for any reason, the Employer shall have no further obligations to
the Executive or the Executive’s legal representatives under this Agreement, except as provided in Section 5(e) or (f), other
than for (i) payment of his Base Salary and any Incentive Compensation accrued but unpaid as of the Date of Termination, (ii) reimbursement
of expenses incurred, but unpaid, as of the Date of Termination, and (iii) amounts otherwise due and payable pursuant to the terms
then in effect under any compensatory plan or practice in which the Executive is then a participant (the “Accrued
Obligations”). The Accrued Obligations shall be payable in accordance with the Employer’s regular payroll practices
or the terms of such compensatory plan or practice, as applicable.

 

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(c)           In
the event that (i) the Executive’s employment is terminated by the Bank for Cause or (ii) the Executive terminates his employment
hereunder other than for Disability, death or Good Reason, the Executive shall have no right pursuant to this Agreement to compensation
or other benefits for any period after the applicable Date of Termination, other than for payment of the Accrued Obligations.

 

(d)           In
the event that the Executive’s employment is terminated as a result of Disability or the Executive’s death during the
term of this Agreement, the Executive shall have no right pursuant to this Agreement to compensation or other benefits for any
period after the applicable Date of Termination, other than for payment of the Accrued Obligations.

 

(e)           In
the event that, outside of a Change in Control Window, (i) the Executive’s employment is terminated by the Employer for other
than Cause, Disability or the Executive’s death or (ii) such employment is terminated by the Executive for Good Reason, then
the Employer shall:

 

(A)         pay
to the Executive, in a lump sum as of the Date of Termination, a cash severance amount equal to three (3) times that portion of
his Base Salary paid by the Bank, and

 

(B)         maintain
and provide for a period ending at the earlier of (i) thirty-six (36) months after the Date of Termination or (ii) the date of
the Executive’s full-time employment by another employer (provided that the Executive is entitled under the terms of such
employment to benefits substantially similar to those described in this subparagraph (B)), at no cost to the Executive, the continued
participation of the Executive and his dependents in all group insurance, life insurance, health and accident insurance, and disability
insurance offered by the Employer in which the Executive and his dependents were participating immediately prior to the Date of
Termination, subject to compliance with Section 5(g) below.

 

(f)           In
the event that within three (3) months prior to, concurrently with or twelve (12) months following a Change in Control (a “Change
in Control Window”), (i) the Executive’s employment is terminated by the Employer for other than Cause, Disability
or the Executive’s death or (ii) such employment is terminated by the Executive for Good Reason, then the Employer shall,
subject to the provisions of Section 6 hereof, if applicable,

 

(A)         pay
to the Executive, in a lump sum as of the Date of Termination (or if applicable, the later date of a Change in Control), a cash
severance amount equal to three (3) times that portion of his Annual Compensation paid by the Bank, and

 

(B)         maintain
and provide for a period ending at the earlier of (i) thirty-six (36) months after the Date of Termination or (ii) the date of
the Executive’s full-time employment by another employer (provided that the Executive is entitled under the terms of such
employment to benefits substantially similar to those described in this subparagraph (B)), at no cost to the Executive, the continued
participation of the Executive and his dependents in all group insurance, life insurance, health and accident insurance, and disability
insurance offered by the Employer in which the Executive and his dependents were participating immediately prior to the Date of
Termination, subject to compliance with Section 5(g) below.

 

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(g)          Any
insurance premiums payable by the Employer or any successors pursuant to this Section 5 shall be payable at such times and in such
amounts (except that the Employer shall also pay any employee portion of the premiums) as if the Executive was still an employee
of the Employer, subject to any increases in such amounts imposed by the insurance company or COBRA, and the amount of insurance
premiums required to be paid by the Employer in any taxable year shall not affect the amount of insurance premiums required to
be paid by the Employer in any other taxable year; provided, however, that if the Executive’s participation in any group
insurance plan is barred, the Employer shall either arrange to provide the Executive with insurance benefits substantially similar
to those which the Executive was entitled to receive under such group insurance plan or, if such coverage cannot be obtained, pay
a lump sum cash equivalency amount within thirty (30) days following the Date of Termination based on the annualized rate of premiums
being paid by the Employer as of the Date of Termination.

 

6.            Limitation
of Benefits under Certain Circumstances.

 

(a)           If
the payments and benefits pursuant to Section 5 hereof, either alone or together with other payments and benefits which the Executive
has the right to receive from the Bank or the Corporation (“Covered Payments”), would constitute a “parachute
payment” under Section 280G of the Code (“Parachute Payments”), then the Covered Payments payable by the
Bank shall be reduced by the minimum amount necessary so that no portion of the Covered Payments payable by the Bank will constitute
a Parachute Payment; provided, however, that the foregoing reduction will be made only if and to the extent that such reduction
would result in an increase in the aggregate Covered Payments to be provided, determined on an after-tax basis (taking into account
the excise tax imposed pursuant to Section 4999 of the Code (the “Excise Tax”), any tax imposed by any comparable
provision of state law, and any applicable federal, state and local income and employment taxes). Whether requested by the Executive
or the Employer, the determination of whether any reduction in such Covered Payments is required pursuant to the preceding sentence
will be made at the expense of the Employer by independent accountants selected by the Corporation (the “Accountants”).
In the event the Covered Payments are required to be reduced pursuant to this Section 6, the Covered Payments will be reduced by
category in the following order: (i) reduction or elimination of cash severance benefits that are subject to Section 409A of the
Code; (ii) reduction or elimination of cash severance benefits that are not subject to Section 409A of the Code; (iii) reduction
or elimination of any remaining portion of the Covered Payments that are subject to Section 409A of the Code other than accelerated
vesting of equity awards; (iv) reduction or elimination of any remaining portion of the Covered Payments that are not subject to
Section 409A of the Code other than accelerated vesting of equity awards; (v) cancellation of accelerated vesting of performance-based
equity awards; and (vi) cancellation of accelerated vesting of service-based equity awards. In the event that acceleration of vesting
of equity award compensation is to be cancelled, such acceleration of vesting will be cancelled in the order that most benefits
the Executive. Within each other category, cash severance benefits and other Covered Payments will be reduced pro rata based on
the portion of cash severance benefits or other Covered Payments with respect to the Covered Payments, in each case beginning with
the cash severance benefits or other Covered Payments that would otherwise be made latest in time; provided that in no event shall
the cash portion of the Covered Payments be less than the amount of federal and state income tax withholding owed by the Executive
with respect to the Covered Payments. Nothing contained in this Section 6 shall result in a reduction of any payments or benefits
to which the Executive may be entitled upon termination of employment under any circumstances other than as specified in this Section 6,
or a reduction in the payments and benefits specified in Section 5 below zero.

 

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(b)          Section
7 of this Agreement contains protective covenants of Executive to refrain from certain activities deemed harmful to the Employer
for a set period of time in exchange for promises contained herein. If the Executive is deemed eligible to receive Covered Payments
under this Agreement that could be subject to the Excise Tax, the Employer shall seek a valuation from the Accountants to determine
the value of any such protective covenants and such amount shall be allocated to such arrangements and be excluded from treatment
as a Parachute Payment. For the avoidance of doubt, it is the intention of this Agreement that the value assigned to any such protective
covenants by the Accountants not be considered a Parachute Payment for purposes of this Section 6.

 

(c)          Any
determination required under this Section 6 shall be made in writing in good faith by the Accountants. The Employer and the Executive
shall provide the Accountants with such information and documents as the Accountants may reasonably request in order to make a
determination under this Section 6. For purposes of making the calculations and determinations required by this Section 6, the
Accountants may rely on reasonable, good faith assumptions and approximations concerning the application of Sections 280G and 4999
of the Code. The Accountants’ determinations shall be final and binding on the Employer and the Executive.

 

(d)          In
the event that the provisions of Sections 280G and 4999 of the Code or any successor provisions are repealed without succession,
this Section 6 shall be of no further force or effect.

 

7.            Protective
Covenants. The Executive shall abide by and be bound by the following protective covenants:

 

(a)          The
Bank and Executive acknowledge that the Bank shall disclose during the Employment Period, or has already disclosed, to Executive
for use in Executive’s employment, and that during the Employment Period Executive will be provided access to and otherwise
make use of, acquire, create, or add to certain valuable, unique, proprietary, and secret information of the Bank (whether tangible
or intangible and whether or not electronically kept or stored), including financial statements, drawings, designs, manuals, business
plans, processes, procedures, formulas, inventions, pricing policies, customer and prospect lists and contacts, contracts, sources
and identity of vendors and contractors, financial information of customers of the Bank, and other proprietary documents, materials,
or information indigenous to the Bank, relating to its businesses and activities, or the manner in which the Bank does business,
which is valuable to the Bank in conducting its business because the information is kept confidential and is not generally known
to the Bank’s competitors or to the general public (the “Confidential Information”). Confidential Information
does not include information generally known or easily obtained from public sources or public records, unless Executive causes
the Confidential Information to become generally known or easily obtained from public sources or public records. To the extent
that the Confidential Information rises to the level of a trade secret under applicable law, then Executive shall, during Executive’s
employment and for so long as the Confidential Information remains a trade secret under applicable law (or for the maximum period
of time otherwise allowed by applicable law) (i) protect and maintain the confidentiality of such trade secrets and (ii) refrain
from disclosing, copying, or using any such trade secrets, without the Bank’s prior written consent, except as necessary
in Executive’s performance of Executive’s duties while employed with the Bank. To the extent that the Confidential
Information does not rise to the level of a trade secret under applicable law, Executive shall, during Executive’s employment
and for a period of two years following any voluntary or involuntary termination of employment, (i) protect and maintain the confidentiality
of the Confidential Information and (ii) refrain from disclosing, copying, or using any Confidential Information without the Bank’s
prior written consent, except as necessary in Executive’s performance of Executive’s duties while employed with the
Bank.

 

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(b)          Upon
any voluntary or involuntary termination of Executive’s employment (or at any time upon request by the Bank), Executive agrees
to immediately return to the Bank all property of the Bank (including, without limitation, all documents, electronic files, records,
computer drives or disks or other tangible or intangible things that may or may not relate to or otherwise comprise Confidential
Information or trade secrets, as defined by applicable law) that Executive created, used, possessed or maintained while working
for the Bank from whatever source and whenever created, including all reproductions or excerpts thereof.

 

(c)           During
the Employment Period and for a period of twelve (12) months thereafter, Executive agrees not to, directly or indirectly, in the
Territory, contact, solicit, divert, appropriate, or call upon, the customers, clients or tangible prospects (prospects recorded
on a report by the Executive or the Bank either electronically or not) of the Bank, (i) to solicit such customers or clients or
prospective customers or clients for a Competitive Business (including, without limitation, any Competitive Business started by
Executive) or (ii) to otherwise encourage any such customer or client or prospective customer or client to discontinue, reduce,
or adversely alter the amount of its business with the Bank, Executive acknowledges that, due to Executive’s relationship
with the Bank, Executive will develop, or has developed, direct or indirect reports to Executive will develop, or have developed,
special contacts and relationships with the Bank’s customers, clients and prospects, and that it would be unfair and harmful
to the Bank if Executive took advantage of these relationships.

 

(d)          During
the Employment Period and for a period of twelve (12) months thereafter, Executive covenants and agrees that Executive shall not,
directly or indirectly : (i) solicit, recruit, or hire (or attempt to solicit, recruit, or hire) or otherwise assist anyone in
soliciting, recruiting, or hiring, any employee or independent contractor (which shall not include non-exclusive outside vendors)
of the Bank who performed work for the Bank within the last six (6) months of Executive’s employment with the Bank or who
was otherwise engaged or employed with the Bank at the time of said termination of employment of Executive or (ii) otherwise encourage,
solicit, or support any such employees or independent contractors to leave their employment or engagement with the Bank, in either
case until such employee or contractor has been terminated or separated from the Bank for at least twelve (12) months.

 

(e)           During
the Employment Period and, unless (i) the Executive’s employment is terminated by the Bank for Cause or (ii) the Executive
terminates his employment hereunder other than for Good Reason, for a period of twelve (12) months thereafter, Executive covenants
and agrees that Executive shall not, directly or indirectly, compete with the Bank, as an officer, director, member, principal,
partner, shareholder (other than a shareholder in a company that is publicly traded and so long as such ownership is less than
five percent (5%), owner, manager, supervisor, administrator, employee, consultant, or independent contractor, by working in the
Territory for or as a Competitive Business in the Territory, in a capacity identical or substantially similar to the capacity in
which Executive served at the Bank.

 

    	 	11	 

     

    

 

(f)           During
the Employment Period and for a period of twelve (12) months thereafter, the Bank agrees that it will not issue any statement (written
or oral) that could reasonably be perceived as disparaging to the Executive. During the Employment Period and for a period of twelve
(12) months thereafter, the Executive agrees that he will not make any statement (written or oral) that could reasonably be perceived
as disparaging to the Bank or any person or entity that he reasonably should know is an affiliate of the Bank.

 

(g)          It
is understood and agreed by Executive that the Bank and Executive have attempted to limit his right to compete only to the extent
necessary to protect the Bank from unfair competition. It is acknowledged that the purpose of these covenants and promises is (and
that they are necessary) to protect the Bank’s legitimate business interests, to protect the Bank’s investment in the
overall development of its business and the good will of its customers, and to protect and retain (and to prevent Executive from
unfairly and to the detriment of the Bank utilizing or taking advantage of) such business trade secrets and Confidential Information
of the Bank and those substantial contacts and relationships (including those with customers and employees of the Bank) which Executive
established due to his employment with the Bank. Therefore, in addition to any other remedies, Executive agrees that any violation
of the covenants in this Section 7 result in the immediate forfeiture of any remaining payment that otherwise is or may become
due under this Agreement, if applicable. Executive further agrees that should he breach any of the covenants contained in this
Section 7, no further amounts will be paid to Executive pursuant hereto and Executive shall repay to the Bank any amounts previously
received by Executive hereunder that are attributable to that portion of the payments paid for the period during which Executive
was in breach of any of the covenants. The Bank and Executive agree that all remedies available to the Bank or Executive, as applicable,
shall be cumulative. Executive acknowledges that these covenants and promises (and their respective time, geographic, and/or activity
limitations) are reasonable and that said limitations are no greater than necessary to protect said legitimate business interests
in light of Executive’s position with the Bank and the Bank’s business, and Executive agrees to strictly abide by the
terms hereof. If any provision of this Agreement is ruled invalid or unenforceable by a court of competent jurisdiction because
of a conflict between the provision and any applicable law or public policy, the provision shall be redrawn to make the provision
consistent with, and valid and enforceable under, the law or public policy.

 

(h)          Notwithstanding
anything in this Agreement to the contrary, (i) nothing in this Agreement, including but not limited to the Release, or other agreement
prohibits Executive from reporting possible violations of law or regulation to any governmental agency or entity, including but
not limited to the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General
(the “Government Agencies”), or communicating with Government Agencies or otherwise participating in any investigation
or proceedings that may be conducted by Government Agencies, including providing documents or other information; (ii) Executive
does not need the prior authorization of the Bank to take any action described in subsection (i), and Executive is not required
to notify the Bank that he has taken any action described in subsection (i); and (iii) neither this Agreement nor any release signed
by Executive limits Executive’s right to receive an award for providing information relating to a possible securities law
violation to the Securities and Exchange Commission. Further, notwithstanding the foregoing, Executive will not be held criminally
or civilly liable under any federal, state or local trade secret law for the disclosure of a trade secret that (1) is made (y)
in confidence to a federal, state or local official, either directly or indirectly, or to an attorney; and (z) solely for the purpose
of reporting or investigating a suspected violation or law; or (2) is made in a compliant or other document filed in a lawsuit
or other proceeding, if such filing is made under seal. Additionally, if Executive is suing the Bank for retaliation based on the
reporting of a suspected violation, of law, he may disclose a trade secret to his attorney and use the trade secret information
in the court proceeding, so long as any document containing the trade secret is filed under seal and Executive does not disclose
the trade secret except pursuant to court order.

 

    	 	12	 

     

    

 

(i)            The
Bank or Executive shall have the right to apply to any court of competent jurisdiction for injunctive relief with respect to the
enforcement of the covenants and agreements set forth in this Section 7. This remedy shall be in addition to, and not in limitation
of, any other rights or remedies to which the Bank or Executive are or may be entitled at law or in equity respecting this Agreement.

 

8.            Mitigation;
Exclusivity of Benefits.

 

(a)          The
Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor
shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another
employer after the Date of Termination or otherwise, except as set forth in Sections 5(e)(B) and 5(f)(B) above.

 

(b)          The
specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive
upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or the Corporation or otherwise.

 

9.            Withholding.
All payments required to be made by the Bank hereunder to the Executive shall be subject to the withholding of such amounts, if
any, relating to tax and other payroll deductions as the Bank shall determine are required to be withheld pursuant to any applicable
law or regulation.

 

10.          Section
409A.

 

(a)          This
Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided
in a manner that is either exempt from or compliant with the requirements of Section 409A of the Code and applicable Internal Revenue
Service guidance and Treasury Regulations issued thereunder. Nevertheless, the tax treatment of the benefits provided under the
Agreement is not warranted or guaranteed. Neither the Bank nor its directors, officers, employees, or advisers shall be held liable
for any taxes, interest, penalties, or other monetary amounts owed by the Executive as a result of the application of Section 409A
of the Code.

 

    	 	13	 

     

    

 

(b)          Notwithstanding
any provision in the Agreement to the contrary, to the extent necessary to avoid the imposition of tax on the Executive under Section
409A of the Code, any payments that are otherwise payable to the Executive within the first six (6) months following the Date of
Termination, shall be suspended and paid as soon as practicable following the end of the six-month period following the Date of
Termination if, immediately prior to the Executive’s termination, the Executive is determined to be a “specified employee”
(within the meaning of Section 409A(a)(2)(B)(i) of the Code) of the Bank (or any related “service recipient” within
the meaning of Section 409A of the Code and the regulations thereunder). Any payments suspended by operation of the foregoing sentence
shall be paid as a lump sum within thirty (30) days following the end of such six-month period. Payments (or portions thereof)
that would be paid latest in time during the six-month period will be suspended first.

 

(c)          The
Bank shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4) to
the Executive of deferred amounts, provided that such distribution meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).

 

11.          Legal
Fees. If, after a Change in Control, it appears to Executive that (a) the Employer has failed to comply with any of its obligations
under this Agreement, or (b) the Employer or any other person (other than Executive) has taken any action to declare this Agreement
void or unenforceable, or instituted any litigation or other legal action designed to deny, diminish, or to recover from Executive
the benefits intended to be provided to Executive hereunder (including any payment pursuant to Section 5 of this Agreement), the
Employer irrevocably authorizes Executive from time to time to retain counsel of his choice, at the Employer’s expense, to
represent Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against
the Employer or any of its affiliated companies or any director, officer, shareholder, or other person affiliated with the Employer.
Executive shall give the Employer notice within ten (10) days after retaining any such counsel. The fees and expenses of counsel
selected from time to time by Executive as provided in this Section 11 shall be paid or reimbursed to Executive by the Employer,
whether suit or an arbitration proceeding has been brought or not. The Employer’s obligation to pay Executive’s legal
fees provided by this Section 11 operates separately from and in addition to any legal fee reimbursement obligation the Employer
has with Executive under any separate severance or other agreement.

 

12.          Assignability.
The Bank may assign this Agreement and its rights and obligations hereunder in whole, but not in part, to any corporation, bank
or other entity with or into which the Bank may hereafter merge or consolidate or to which the Bank may transfer all or substantially
all of its assets, if in any such case said corporation, bank or other entity shall by operation of law or expressly in writing
assume all obligations of the Bank hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign
this Agreement or its rights and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or
obligations hereunder.

 

13.          Notice.
For the purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage
prepaid, addressed to the respective addresses set forth below:

 

    	 	14	 

     

    

 

	To the Bank:	Secretary
	 	Home Bank, N.A.
	 	503 Kaliste Saloom
	 	Lafayette, Louisiana 70508
	 	 
	To the Executive:	John W. Bordelon
	 	At the address last appearing on
	 	the personnel records of the Employer

 

14.         Amendment;
Waiver. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge
is agreed to in writing signed by the Executive and such officer or officers as may be specifically designated by the Bank Board
to sign on its behalf. No waiver by any party hereto at any time of any breach by any other party hereto of, or compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time.

 

15.         Governing
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the United
States where applicable and otherwise by the substantive laws of the State of Louisiana.

 

16.         Nature
of Obligations. Nothing contained herein shall create or require the Bank to create a trust of any kind to fund any benefits
which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Bank hereunder,
such right shall be no greater than the right of any unsecured general creditor of the Bank.

 

17.         Headings.
The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

 

18.         Validity.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provisions of this Agreement, which shall remain in full force and effect.

 

19.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together
shall constitute one and the same instrument.

 

20.         Regulatory
Actions and Prohibitions. The following provisions shall be controlling in the event of a conflict with any other provision
of this Agreement, including without limitation Section 5 hereof.

 

(a)          Notwithstanding
any other provision of this Agreement to the contrary, any payments made to the Executive pursuant to this Agreement, or otherwise,
are subject to and conditioned upon their compliance with Section 18(k) of the FDIA (12 U.S.C. §1828(k)) and 12 C.F.R. Part
359 (collectively, the “Golden Parachute Restrictions”). In the event any such payments become due and payable
under this Agreement at a time when such payments would constitute “golden parachute payments,” other than “golden
parachute payments” for which the concurrence or consent of the appropriate federal banking agency has been received as contemplated
by the Golden Parachute Restrictions, the obligation on the part of the Employer to make any such payments shall become null and
void.

 

    	 	15	 

     

    

 

(b)          If
the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs
pursuant to notice served under Section 8(e) or Section 8(g) of the Federal Deposit Insurance Act (“FDIA”)(12
U.S.C. §§1818(e) and 1818(g)), the Bank shall have the right to suspend all obligations of the Bank under this Agreement
as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank shall
reinstate prospectively (in whole or in part) any of its obligations which were suspended.

 

(c)           If
the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs
by an order issued under Section 8(e) or Section 8(g) of the FDIA (12 U.S.C. §§1818(e) and (g)), the Bank shall have
the right to terminate all obligations of the Bank under this Agreement as of the effective date of such order, except for payment
of the Accrued Obligations.

 

(d)          If
the Bank is in default, as defined in Section 3(x)(1) of the FDIA (12 U.S.C. §1813(x)(1)), all obligations under this Agreement
shall terminate as of the date of default, but vested rights of the Executive and the Bank as of the date of termination shall
not be affected.

 

(e)          All
obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5), except to the extent that it is
determined that continuation of the Agreement for the continued operation of the Bank is necessary: (i) by the Comptroller of the
Currency, or his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an
agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA (12 U.S.C.
 §1823(c)); or (ii) by the Comptroller of the Currency, or his/her designee, at the time the Comptroller of the Currency or
his/her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined
by the Comptroller of the Currency to be in an unsafe or unsound condition, but vested rights of the Executive and the Employer
as of the date of termination shall not be affected.

 

(f)           Any
payments suspended by operation of this Section 20 shall be paid as a lump sum within thirty (30) days following receipt of the
concurrence or consent of the appropriate federal banking agency of the Bank or as otherwise directed by such federal banking agency.

 

(g)          All
obligations under this Agreement are further subject to such conditions, restrictions, limitations and forfeiture provisions as
may separately apply pursuant to any applicable state banking laws.

 

21.         Changes
in Statutes or Regulations. If any statutory or regulatory provision referenced herein is subsequently changed or re-numbered,
or is replaced by a separate provision, then the references in this Agreement to such statutory or regulatory provision shall be
deemed to be a reference to such section as amended, re-numbered or replaced.

 

22.         Entire
Agreement. This Agreement embodies the entire agreement between the Bank and the Executive with respect to the matters agreed
to herein. All prior agreements between the Bank and the Executive with respect to the matters agreed to herein, including but
not limited to the Prior Agreement, are hereby superseded and shall have no force or effect. Notwithstanding the foregoing, nothing
contained in this Agreement shall affect the agreement of even date being entered into between the Corporation and the Executive.

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF,
this Agreement has been executed as of the date first written above.

 

	Attest:	 	HOME BANK, N.A.
	 	 	 	 
	/s/ Daniel G. Guidry 	 	By:	/s/ Michael P. Maraist
	Daniel G. Guidry	 	 	Michael P. Maraist
	Corporate Secretary	 	 	Chairman of the Board
	 	 	 	 
	 	 	EXECUTIVE
	 	 	 	 
	 	 	By:	/s/ John W. Bordelon
	 	 	 	John W. Bordelon

 

    	 	17Exhibit 10.3

 

HOME BANK, N.A.

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This AMENDED AND
RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the 20th day of May, 2019,
between Home Bank, N.A. (the “Bank” or the “Employer”), a nationally chartered bank which
is the wholly owned subsidiary of Home Bancorp, Inc. (the “Corporation”), and Jason Paul Freyou (the “Executive”).

 

WITNESSETH

 

WHEREAS, the
Executive is currently employed as the Executive Vice President and Chief Operations Officer of the Bank, and the Executive and
the Bank have previously entered into an employment agreement dated April 27, 2015, as amended (the “Prior Agreement”);

 

WHEREAS, the
Board of Directors of the Bank (the “Bank Board”) has reviewed the Executive’s performance and has determined
that it is in the Bank’s best interests to extend the term of the Bank’s employment agreement with the Executive;

 

WHEREAS, the
Bank desires to assure itself of the continued availability of the Executive’s services as provided in this Agreement;

 

WHEREAS, the
Bank desires to amend and restate the Prior Agreement in order to make certain changes; and

 

WHEREAS, the
Executive is willing to serve the Bank on the terms and conditions hereinafter set forth.

 

NOW THEREFORE,
in consideration of the mutual agreements herein contained, and upon the other terms and conditions hereinafter provided, the Bank
and the Executive hereby agree as follows:

 

1.           Definitions.
The following words and terms shall have the meanings set forth below for the purposes of this Agreement:

 

(a)          Annual
Compensation. The Executive’s “Annual Compensation” for purposes of determining severance payable under this
Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) any Incentive
Compensation or other cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which
the Date of Termination occurs.

 

(b)          Base
Salary. “Base Salary” shall have the meaning set forth in Section 3(a) hereof.

 

(c)          Cause.
Termination of the Executive’s employment for “Cause” shall mean termination because of, as determined by Bank
Board acting in good faith:

 

(i)          any
act by Executive of fraud against, material misappropriation from, or material dishonesty to the Bank;

 

     

     

    

 

(ii)         conduct
by Executive that amounts to willful misconduct, gross and willful insubordination, or gross neglect in the performance of Executive’s
duties and responsibilities hereunder;

 

(iii)        Executive’s
conviction of, indictment for (or its procedural equivalent), or entering of a guilty plea or plea of no contest with respect to,
a crime involving breach of trust or moral turpitude or any felony;

 

(iv)        receipt
of any form of notice, written or otherwise, that any regulatory agency having jurisdiction over the Bank intends to institute
any form of formal or informal regulatory action against Executive;

 

(v)         Executive’s
removal and/or permanent prohibition from participating in the conduct of the Bank’s affairs by an order issued under 12
U.S.C. Section 1818(e) or (g);

 

(vi)        the
exhibition of a standard of behavior within the scope of or related to his employment that is materially disruptive to the orderly
conduct of the Bank’s business operations (including, without limitation, substance abuse or sexual harassment or sexual
misconduct that violates federal or state law); or

 

(vii)       a
material breach of the terms of this Agreement by Executive not cured by Executive within thirty (30) days of the date the Executive
received the Notice of Termination, and, in the event Executive does not cure any such condition, the Bank terminates his employment
within thirty (30) days after the period for curing the condition has expired. If the Executive remedies the condition within such
thirty (30) day cure period, then no Cause shall be deemed to exist with respect to such condition; provided, that the Executive
shall not have the opportunity to cure if the breach is not susceptible to being cured or such an opportunity would otherwise conflict
with applicable federal or state regulatory requirements;

 

provided, that the nature of any act, conduct,
behavior, breach or other circumstances constituting Cause shall be set forth with reasonable particularity in a written notice
to the Executive that states the facts upon which the Bank Board made such determination.

 

(d)          Change
in Control. “Change in Control” shall mean a “change in the ownership of the corporation,” a “change
in the effective control of the corporation,” or a “change in the ownership of a substantial portion of the assets
of the corporation” within the meaning of Treasury Regulation 1.409A-3(i)(5). For purposes of the preceding sentence, “the
corporation” refers to the Corporation or the Bank. Notwithstanding the foregoing, the following shall not be deemed to result
in a Change in Control: (i) any acquisition by any employee benefit plan (or related trust), including but not limited to, an employee
stock ownership plan as defined in Section 4975(e)(7) of the Code, sponsored or maintained by the Employer or any corporation controlled
by the Employer; or (ii) any merger, consolidation, reorganization, share exchange or other transaction as to which the holders
of the capital stock of the Employer before the transaction continue after the transaction to hold, directly or indirectly through
a holding company or otherwise, shares of capital stock of the Employer (or other surviving company) representing more than fifty
percent (50%) of the value or ordinary voting power to elect directors of the capital stock of the Employer (or other surviving
company).

 

    	 	2	 

     

    

 

(e)          Code.
 “Code” shall mean the Internal Revenue Code of 1986, as amended.

 

(f)           Competitive
Business. “Competitive Business” shall mean an enterprise that is in the business of offering banking products
and/or services, which services and/or products are similar or substantially identical to those offered by the Bank during Executive’s
employment with the Bank.

 

(g)          Date
of Termination. “Date of Termination” shall mean (i) if the Executive’s employment is terminated for Cause,
the date on which the Notice of Termination is given, and (ii) if the Executive’s employment is terminated for any other
reason, the date specified in such Notice of Termination.

 

(h)          Effective
Date. The Effective Date of this Agreement shall mean the date first written above.

 

(i)           Disability.
 “Disability” shall mean the Executive (i) is unable 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, or (ii) is, 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, receiving
income replacement benefits for a period of not less than three months under an accident and health plan covering employees of
the Employer.

 

(j)           Good
Reason. “Good Reason” means the occurrence of any of the following conditions:

 

(i)          any
material breach of this Agreement by the Bank, including without limitation any of the following: (A) a material diminution in
the Executive’s Base Salary, (B) a material diminution in the Executive’s authority, duties or responsibilities as
prescribed in Section 2, or (C) any requirement that the Executive report to a corporate officer or employee of the Bank instead
of reporting directly to the President and/or Chief Executive Officer, or

 

(ii)         any
involuntary material change in the geographic location at which the Executive must perform his services under this Agreement for
a period of more than 90 days;

 

provided, however, that prior to any termination
of employment for Good Reason, the Executive must first provide written notice to the Bank within ninety (90) days of the initial
existence of the condition, describing the existence of such condition, and the Bank shall thereafter have the right to remedy
the condition within thirty (30) days of the date the Bank received the written notice from the Executive. If the Bank remedies
the condition within such thirty (30) day cure period, then no Good Reason shall be deemed to exist with respect to such condition.
If the Bank does not remedy the condition within such thirty (30) day cure period, then the Executive may deliver a Notice of Termination
for Good Reason at any time within sixty (60) days following the expiration of such cure period.

 

    	 	3	 

     

    

 

(k)          Notice
of Termination. Any purported termination of the Executive’s employment by the Bank for any reason, including without
limitation for Cause or Disability, or by the Executive for any reason, including without limitation for Good Reason, shall be
communicated by a written “Notice of Termination” to the other party hereto. For purposes of this Agreement, a “Notice
of Termination” shall mean a dated notice which (i) indicates the specific termination provision in this Agreement relied
upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated, (iii) specifies a Date of Termination, which shall be effective immediately if the
Bank terminates the Executive’s employment for Cause, and (iv) is given in the manner specified in Section 13 hereof.

 

(l)           Territory.
 “Territory” shall mean, to the extent the Bank carries on business therein, (i) Acadia, Calcasieu, East Baton Rouge,
Jeff Davis, Jefferson, Lafayette, Orleans, St. Martin and St. Tammany Parishes, Louisiana, (ii) Adams and Warren Counties, Mississippi,
and (iii) in the event that the Bank expands the geographic reach of its business to other parishes or counties, the definition
of Territory shall expand to include such additional parishes or counties. In any such case, the Executive agrees to execute and
deliver an amendment hereto adding the additional parishes or counties, upon payment to the Executive by the Bank of the sum of
one hundred dollars ($100).

 

2.           Term
of Employment and Duties. 

 

(a)          The
Bank hereby employs the Executive as the Executive Vice President and Chief Operations Officer of the Bank, and the Executive hereby
accepts said employment and agrees to render such services to the Bank on the terms and conditions set forth in this Agreement.
The terms and conditions of this Agreement shall be and remain in effect during the period beginning on the Effective Date of this
Agreement and ending on the second anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to
Section 2(b) hereof (the “Employment Period”).

 

(b)          At
least thirty (30) days prior to the first anniversary of the Effective Date and each anniversary of the Effective Date thereafter
(the “Renewal Date”), the Bank Board shall consider and review (after taking into account all relevant factors,
including the Executive’s performance hereunder) whether it is in the best interests of the Bank to extend the term of this
Agreement. If the Bank Board determines that an extension of the term of this Agreement is in the best interests of the Bank, then
the Bank Board may approve a one-year extension of the term of this Agreement effective as of the Renewal Date, in which case the
term of this Agreement shall be extended for one additional year, unless the Executive gives written notice to the Employer of
the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior
to any such Renewal Date. The Bank Board agrees to inform the Executive not less than thirty (30) days prior to any such Renewal
Date as to whether or not the Bank Board elected to extend the term of this Agreement. If the Agreement is not extended as of any
Renewal Date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this
Agreement shall refer both to the initial term and successive terms.

 

    	 	4	 

     

    

 

(c)          Nothing
in this Agreement shall be deemed to prohibit the Bank at any time from terminating the Executive’s employment as Executive
Vice President and Chief Operations Officer during the Employment Period for any reason, provided that the relative rights and
obligations of the Bank and the Executive in the event of any such termination shall be determined under this Agreement.

 

(d)          During
the term of this Agreement, the Executive shall manage the sales of products and services of the Bank. The Executive shall report
directly to the President and Chief Executive Officer of the Bank. In addition, the Executive shall perform such executive services
for the Bank as may be consistent with his titles and from time to time assigned to him by the President and Chief Executive Officer
of the Bank.

 

3.           Compensation
and Benefits. 

 

(a)          The
Employer shall compensate and pay the Executive for his services during the term of this Agreement at a minimum base salary per
year that is no less than the amount paid to Executive as of the Effective Date of this Agreement (“Base Salary”),
which amount may be increased from time to time in such amounts as may be determined by the Bank Board and may not be decreased
without the Executive’s express written consent. The Executive and the Bank acknowledge that a portion of the Base Salary
may be paid by the Corporation for services rendered to the Corporation by the Executive, and the Executive and the Bank further
acknowledge and agree that the combined Base Salary paid to the Executive each year by the Corporation and the Bank shall be the
amount set forth above, as increased from time to time by the Bank Board.

 

(b)          Subject
to applicable law, including any required regulatory approval, for each calendar year during the Employment Period, Executive shall
be eligible to participate in an annual incentive bonus plan that by its terms provides financial awards that are no less in bonus
value or greater in performance levels than plan terms offered to other senior executives of the Bank, with award opportunities
approved from year to year by the Bank Board (“Incentive Compensation”). Threshold, target and maximum corporate
performance levels shall be established by the Bank Board from year to year based on budget, earnings growth, profitability, asset
quality, qualitative risk measures and such other performance metrics as the Bank Board reasonably may determine and shall be outlined
in the specific award opportunity. The performance measures for any given year shall be set no later than December 31st
of the year preceding the performance year of Incentive Compensation eligibility. Entitlement to and payment of such Incentive
Compensation is subject to the discretion and approval of the Bank Board. Any Incentive Compensation earned shall be payable no
later than March 15th of the year following the year in which the bonus is earned, in accordance with the Employer’s
normal practices for the payment of short-term incentives. To be entitled to any payment of Incentive Compensation, Executive must
be employed by the Employer on the last day of the applicable performance period. The payment of any Incentive Compensation shall
be subject to any approvals or non-objections required by any regulator of the Employer, and the obligation to pay any such Incentive
Compensation shall be rendered null and void to the extent the same is then prohibited by any applicable law or regulatory restriction.

 

(c)          Executive
will be eligible to participate in any stock option plan, restricted stock or long-term equity incentive plans offered by the Corporation,
similar to that offered to other senior executives on terms consistent with Executive’s position with the Corporation.

 

    	 	5	 

     

    

 

(d)          Executive
and Executive’s family shall be eligible for participation in and shall receive all benefits under any health and welfare
benefit plans, practices, policies and programs provided by the Bank, to the extent applicable to similarly situated executives
of the Bank and subject to the terms, conditions and eligibility requirements (including any required premium payments or other
costs) therefore as may be prescribed by the Bank or set forth in the terms of such plans, practices, policies and programs from
time to time.

 

(e)          During
the term of this Agreement, the Executive shall be entitled to participate in and receive the benefits of any pension or other
retirement benefit plan, profit sharing, employee stock ownership, or other plans, benefits and privileges given to employees and
executives of the Employer, to the extent commensurate with his then duties and responsibilities, as fixed by the Bank Board. The
Bank shall not make any changes in any compensation or other plans, benefits or privileges which would adversely affect the Executive’s
rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all executive officers of the Bank
and does not result in a proportionately greater adverse change in the rights of or benefits to the Executive as compared with
any other executive officer of the Bank. Nothing paid to the Executive under any plan or arrangement presently in effect or made
available in the future shall be deemed to be in lieu of the salary payable to the Executive pursuant to Section 3(a) hereof.

 

(f)           Except
as otherwise agreed between the Corporation and the Bank, the Executive’s compensation, benefits and severance set forth
in this Agreement shall be paid by the Corporation and the Bank in the same proportion as the time and services actually expended
by the Executive on the business of the Corporation and the business of the Bank, respectively, with any amounts paid by the Corporation
to be credited towards the obligations of the Bank under this Agreement. For this purpose, the Executive shall maintain, and provide
to the Bank on at least a monthly basis, documentation of the time and expenses expended by the Executive on the business of each
of the Corporation and the Bank.

 

(g)          The
Executive agrees to repay any compensation previously paid or otherwise made available to the Executive under this Agreement that
is subject to recovery under any clawback or compensation recovery policy as may be adopted from time to time by the Employer or
under any applicable law (including any rule of any exchange or service through which the securities of the Corporation are then
traded), including, but not limited to, the following circumstances:

 

(i)          where
such compensation was in excess of what should have been paid or made available because the determination of the amount due was
based, in whole or in part, on materially inaccurate financial information of the Bank;

 

(ii)         where
such compensation constitutes “excessive compensation” within the meaning of 12 C.F.R. Part 30, Appendix A;

 

(iii)        where
Executive has committed, is substantially responsible for, or has violated, the respective acts, omissions, conditions, or offenses
outlined under 12 C.F.R. Section 359.4(a)(4); and

 

    	 	6	 

     

    

 

(iv)        if
the Bank becomes, and for so long as the Bank remains, subject to the provisions of 12 U.S.C. Section 1831o(f), where such compensation
exceeds the restrictions imposed on the senior executive officers of such an institution.

 

Executive agrees to return
within sixty (60) days, or within any earlier timeframe required by applicable law or any recoupment policy, any such compensation
properly identified by the Bank by written notice. If Executive fails to return such compensation within the applicable time period,
Executive agrees that the amount of such compensation may be deducted from any and all other compensation owed to Executive by
the Bank. The provisions of this subsection shall be modified to the extent, and remain in effect for the period, required by applicable
law.

 

4.           Expenses.
The Employer shall reimburse the Executive or otherwise provide for or pay for all reasonable expenses incurred by the Executive
in furtherance of or in connection with the business of the Employer, including, but not by way of limitation, automobile expenses,
traveling expenses, and all reasonable entertainment expenses (whether incurred at the Executive’s residence, while traveling
or otherwise), subject to such reasonable documentation and policies as may be established by the Bank Board. If such expenses
are paid in the first instance by the Executive, the Employer shall reimburse the Executive therefor. Such reimbursement shall
be paid promptly by the Employer and in any event no later than March 15th of the year immediately following the year
in which such expenses were incurred.

 

5.           Termination.

 

(a)          The
Bank shall have the right, at any time upon prior Notice of Termination, to terminate the Executive’s employment hereunder
for any reason, including without limitation termination for Cause or Disability, and the Executive shall have the right, upon
prior Notice of Termination, to terminate his employment hereunder for any reason.

 

(b)          In
the event that the Executive’s employment is terminated for any reason, the Employer shall have no further obligations to
the Executive or the Executive’s legal representatives under this Agreement, except as provided in Section 5(e) or (f), other
than for (i) payment of his Base Salary and any Incentive Compensation accrued but unpaid as of the Date of Termination, (ii) reimbursement
of expenses incurred, but unpaid, as of the Date of Termination, and (iii) amounts otherwise due and payable pursuant to the terms
then in effect under any compensatory plan or practice in which the Executive is then a participant (the “Accrued Obligations”).
The Accrued Obligations shall be payable in accordance with the Employer’s regular payroll practices or the terms of such
compensatory plan or practice, as applicable.

 

(c)          In
the event that (i) the Executive’s employment is terminated by the Bank for Cause or (ii) the Executive terminates his employment
hereunder other than for Disability, death or Good Reason, the Executive shall have no right pursuant to this Agreement to compensation
or other benefits for any period after the applicable Date of Termination, other than for payment of the Accrued Obligations.

 

(d)          In
the event that the Executive’s employment is terminated as a result of Disability or the Executive’s death during the
term of this Agreement, the Executive shall have no right pursuant to this Agreement to compensation or other benefits for any
period after the applicable Date of Termination, other than for payment of the Accrued Obligations.

 

    	 	7	 

     

    

 

(e)          In
the event that, outside of a Change in Control Window, (i) the Executive’s employment is terminated by the Employer for other
than Cause, Disability or the Executive’s death or (ii) such employment is terminated by the Executive for Good Reason, then
the Employer shall:

 

(A)         pay
to the Executive, in a lump sum as of the Date of Termination, a cash severance amount equal to one (1) times his Base Salary,
and

 

(B)         maintain
and provide for a period ending at the earlier of (i) twelve (12) months after the Date of Termination or (ii) the date of the
Executive’s full-time employment by another employer (provided that the Executive is entitled under the terms of such employment
to benefits substantially similar to those described in this subparagraph (B)), at no cost to the Executive, the continued participation
of the Executive and his dependents in all group insurance, life insurance, health and accident insurance, and disability insurance
offered by the Employer in which the Executive and his dependents were participating immediately prior to the Date of Termination,
subject to compliance with Section 5(g) below.

 

(f)           In
the event that within three (3) months prior to, concurrently with or twelve (12) months following a Change in Control (a “Change
in Control Window”), (i) the Executive’s employment is terminated by the Employer for other than Cause, Disability
or the Executive’s death or (ii) such employment is terminated by the Executive for Good Reason, then the Employer shall,
subject to the provisions of Section 6 hereof, if applicable,

 

(A)         pay
to the Executive, in a lump sum as of the Date of Termination (or if applicable, the later date of a Change in Control), a cash
severance amount equal to two (2) times his Annual Compensation, and

 

(B)         maintain
and provide for a period ending at the earlier of (i) twenty-four (24) months after the Date of Termination or (ii) the date of
the Executive’s full-time employment by another employer (provided that the Executive is entitled under the terms of such
employment to benefits substantially similar to those described in this subparagraph (B)), at no cost to the Executive, the continued
participation of the Executive and his dependents in all group insurance, life insurance, health and accident insurance, and disability
insurance offered by the Employer in which the Executive and his dependents were participating immediately prior to the Date of
Termination, subject to compliance with Section 5(g) below.

 

(g)          Any
insurance premiums payable by the Employer or any successors pursuant to this Section 5 shall be payable at such times and in such
amounts (except that the Employer shall also pay any employee portion of the premiums) as if the Executive was still an employee
of the Employer, subject to any increases in such amounts imposed by the insurance company or COBRA, and the amount of insurance
premiums required to be paid by the Employer in any taxable year shall not affect the amount of insurance premiums required to
be paid by the Employer in any other taxable year; provided, however, that if the Executive’s participation in any group
insurance plan is barred, the Employer shall either arrange to provide the Executive with insurance benefits substantially similar
to those which the Executive was entitled to receive under such group insurance plan or, if such coverage cannot be obtained, pay
a lump sum cash equivalency amount within thirty (30) days following the Date of Termination based on the annualized rate of premiums
being paid by the Employer as of the Date of Termination.

 

    	 	8	 

     

    

 

6.           Limitation
of Benefits under Certain Circumstances.

 

(a)          If
the payments and benefits pursuant to Section 5 hereof, either alone or together with other payments and benefits which the Executive
has the right to receive from the Bank or the Corporation (“Covered Payments”), would constitute a “parachute
payment” under Section 280G of the Code (“Parachute Payments”), then the Covered Payments payable by the
Bank shall be reduced by the minimum amount necessary so that no portion of the Covered Payments payable by the Bank will constitute
a Parachute Payment; provided, however, that the foregoing reduction will be made only if and to the extent that such reduction
would result in an increase in the aggregate Covered Payments to be provided, determined on an after-tax basis (taking into account
the excise tax imposed pursuant to Section 4999 of the Code (the “Excise Tax”), any tax imposed by any comparable
provision of state law, and any applicable federal, state and local income and employment taxes). Whether requested by the Executive
or the Employer, the determination of whether any reduction in such Covered Payments is required pursuant to the preceding sentence
will be made at the expense of the Employer by independent accountants selected by the Corporation (the “Accountants”).
In the event the Covered Payments are required to be reduced pursuant to this Section 6, the Covered Payments will be reduced by
category in the following order: (i) reduction or elimination of cash severance benefits that are subject to Section 409A of the
Code; (ii) reduction or elimination of cash severance benefits that are not subject to Section 409A of the Code; (iii) reduction
or elimination of any remaining portion of the Covered Payments that are subject to Section 409A of the Code other than accelerated
vesting of equity awards; (iv) reduction or elimination of any remaining portion of the Covered Payments that are not subject to
Section 409A of the Code other than accelerated vesting of equity awards; (v) cancellation of accelerated vesting of performance-based
equity awards; and (vi) cancellation of accelerated vesting of service-based equity awards. In the event that acceleration of vesting
of equity award compensation is to be cancelled, such acceleration of vesting will be cancelled in the order that most benefits
the Executive. Within each other category, cash severance benefits and other Covered Payments will be reduced pro rata based on
the portion of cash severance benefits or other Covered Payments with respect to the Covered Payments, in each case beginning with
the cash severance benefits or other Covered Payments that would otherwise be made latest in time; provided that in no event shall
the cash portion of the Covered Payments be less than the amount of federal and state income tax withholding owed by the Executive
with respect to the Covered Payments. Nothing contained in this Section 6 shall result in a reduction of any payments or benefits
to which the Executive may be entitled upon termination of employment under any circumstances other than as specified in this Section 6,
or a reduction in the payments and benefits specified in Section 5 below zero.

 

(b)          Section
7 of this Agreement contains protective covenants of Executive to refrain from certain activities deemed harmful to the Employer
for a set period of time in exchange for promises contained herein. If the Executive is deemed eligible to receive Covered Payments
under this Agreement that could be subject to the Excise Tax, the Employer shall seek a valuation from the Accountants to determine
the value of any such protective covenants and such amount shall be allocated to such arrangements and be excluded from treatment
as a Parachute Payment. For the avoidance of doubt, it is the intention of this Agreement that the value assigned to any such protective
covenants by the Accountants not be considered a Parachute Payment for purposes of this Section 6.

 

    	 	9	 

     

    

 

(c)          Any
determination required under this Section 6 shall be made in writing in good faith by the Accountants. The Employer and the Executive
shall provide the Accountants with such information and documents as the Accountants may reasonably request in order to make a
determination under this Section 6. For purposes of making the calculations and determinations required by this Section 6, the
Accountants may rely on reasonable, good faith assumptions and approximations concerning the application of Sections 280G and 4999
of the Code. The Accountants’ determinations shall be final and binding on the Employer and the Executive.

 

(d)          In
the event that the provisions of Sections 280G and 4999 of the Code or any successor provisions are repealed without succession,
this Section 6 shall be of no further force or effect.

 

7.           Protective
Covenants. The Executive shall abide by and be bound by the following protective covenants:

 

(a)          The
Bank and Executive acknowledge that the Bank shall disclose during the Employment Period, or has already disclosed, to Executive
for use in Executive’s employment, and that during the Employment Period Executive will be provided access to and otherwise
make use of, acquire, create, or add to certain valuable, unique, proprietary, and secret information of the Bank (whether tangible
or intangible and whether or not electronically kept or stored), including financial statements, drawings, designs, manuals, business
plans, processes, procedures, formulas, inventions, pricing policies, customer and prospect lists and contacts, contracts, sources
and identity of vendors and contractors, financial information of customers of the Bank, and other proprietary documents, materials,
or information indigenous to the Bank, relating to its businesses and activities, or the manner in which the Bank does business,
which is valuable to the Bank in conducting its business because the information is kept confidential and is not generally known
to the Bank’s competitors or to the general public (the “Confidential Information”). Confidential Information
does not include information generally known or easily obtained from public sources or public records, unless Executive causes
the Confidential Information to become generally known or easily obtained from public sources or public records. To the extent
that the Confidential Information rises to the level of a trade secret under applicable law, then Executive shall, during Executive’s
employment and for so long as the Confidential Information remains a trade secret under applicable law (or for the maximum period
of time otherwise allowed by applicable law) (i) protect and maintain the confidentiality of such trade secrets and (ii) refrain
from disclosing, copying, or using any such trade secrets, without the Bank’s prior written consent, except as necessary
in Executive’s performance of Executive’s duties while employed with the Bank. To the extent that the Confidential
Information does not rise to the level of a trade secret under applicable law, Executive shall, during Executive’s employment
and for a period of two years following any voluntary or involuntary termination of employment, (i) protect and maintain the confidentiality
of the Confidential Information and (ii) refrain from disclosing, copying, or using any Confidential Information without the Bank’s
prior written consent, except as necessary in Executive’s performance of Executive’s duties while employed with the
Bank.

 

    	 	10	 

     

    

 

(b)          Upon
any voluntary or involuntary termination of Executive’s employment (or at any time upon request by the Bank), Executive agrees
to immediately return to the Bank all property of the Bank (including, without limitation, all documents, electronic files, records,
computer drives or disks or other tangible or intangible things that may or may not relate to or otherwise comprise Confidential
Information or trade secrets, as defined by applicable law) that Executive created, used, possessed or maintained while working
for the Bank from whatever source and whenever created, including all reproductions or excerpts thereof.

 

(c)          During
the Employment Period and for a period of twelve (12) months thereafter, Executive agrees not to, directly or indirectly, in the
Territory, contact, solicit, divert, appropriate, or call upon, the customers, clients or tangible prospects (prospects recorded
on a report by the Executive or the Bank either electronically or not) of the Bank, (i) to solicit such customers or clients or
prospective customers or clients for a Competitive Business (including, without limitation, any Competitive Business started by
Executive) or (ii) to otherwise encourage any such customer or client or prospective customer or client to discontinue, reduce,
or adversely alter the amount of its business with the Bank, Executive acknowledges that, due to Executive’s relationship
with the Bank, Executive will develop, or has developed, direct or indirect reports to Executive will develop, or have developed,
special contacts and relationships with the Bank’s customers, clients and prospects, and that it would be unfair and harmful
to the Bank if Executive took advantage of these relationships.

 

(d)          During
the Employment Period and for a period of twelve (12) months thereafter, Executive covenants and agrees that Executive shall not,
directly or indirectly : (i) solicit, recruit, or hire (or attempt to solicit, recruit, or hire) or otherwise assist anyone in
soliciting, recruiting, or hiring, any employee or independent contractor (which shall not include non-exclusive outside vendors)
of the Bank who performed work for the Bank within the last six (6) months of Executive’s employment with the Bank or who
was otherwise engaged or employed with the Bank at the time of said termination of employment of Executive or (ii) otherwise encourage,
solicit, or support any such employees or independent contractors to leave their employment or engagement with the Bank, in either
case until such employee or contractor has been terminated or separated from the Bank for at least twelve (12) months.

 

(e)          During
the Employment Period and, unless (i) the Executive’s employment is terminated by the Bank for Cause or (ii) the Executive
terminates his employment hereunder other than for Good Reason, for a period of twelve (12) months thereafter, Executive covenants
and agrees that Executive shall not, directly or indirectly, compete with the Bank, as an officer, director, member, principal,
partner, shareholder (other than a shareholder in a company that is publicly traded and so long as such ownership is less than
five percent (5%), owner, manager, supervisor, administrator, employee, consultant, or independent contractor, by working in the
Territory for or as a Competitive Business in the Territory, in a capacity identical or substantially similar to the capacity in
which Executive served at the Bank.

 

(f)           During
the Employment Period and for a period of twelve (12) months thereafter, the Bank agrees that it will not issue any statement (written
or oral) that could reasonably be perceived as disparaging to the Executive. During the Employment Period and for a period of twelve
(12) months thereafter, the Executive agrees that he will not make any statement (written or oral) that could reasonably be perceived
as disparaging to the Bank or any person or entity that he reasonably should know is an affiliate of the Bank.

 

    	 	11	 

     

    

 

(g)          It
is understood and agreed by Executive that the Bank and Executive have attempted to limit his right to compete only to the extent
necessary to protect the Bank from unfair competition. It is acknowledged that the purpose of these covenants and promises is (and
that they are necessary) to protect the Bank’s legitimate business interests, to protect the Bank’s investment in the
overall development of its business and the good will of its customers, and to protect and retain (and to prevent Executive from
unfairly and to the detriment of the Bank utilizing or taking advantage of) such business trade secrets and Confidential Information
of the Bank and those substantial contacts and relationships (including those with customers and employees of the Bank) which Executive
established due to his employment with the Bank. Therefore, in addition to any other remedies, Executive agrees that any violation
of the covenants in this Section 7 result in the immediate forfeiture of any remaining payment that otherwise is or may become
due under this Agreement, if applicable. Executive further agrees that should he breach any of the covenants contained in this
Section 7, no further amounts will be paid to Executive pursuant hereto and Executive shall repay to the Bank any amounts previously
received by Executive hereunder that are attributable to that portion of the payments paid for the period during which Executive
was in breach of any of the covenants. The Bank and Executive agree that all remedies available to the Bank or Executive, as applicable,
shall be cumulative. Executive acknowledges that these covenants and promises (and their respective time, geographic, and/or activity
limitations) are reasonable and that said limitations are no greater than necessary to protect said legitimate business interests
in light of Executive’s position with the Bank and the Bank’s business, and Executive agrees to strictly abide by the
terms hereof. If any provision of this Agreement is ruled invalid or unenforceable by a court of competent jurisdiction because
of a conflict between the provision and any applicable law or public policy, the provision shall be redrawn to make the provision
consistent with, and valid and enforceable under, the law or public policy.

 

(h)          Notwithstanding
anything in this Agreement to the contrary, (i) nothing in this Agreement, including but not limited to the Release, or other agreement
prohibits Executive from reporting possible violations of law or regulation to any governmental agency or entity, including but
not limited to the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General
(the “Government Agencies”), or communicating with Government Agencies or otherwise participating in any investigation
or proceedings that may be conducted by Government Agencies, including providing documents or other information; (ii) Executive
does not need the prior authorization of the Bank to take any action described in subsection (i), and Executive is not required
to notify the Bank that he has taken any action described in subsection (i); and (iii) neither this Agreement nor any release signed
by Executive limits Executive’s right to receive an award for providing information relating to a possible securities law
violation to the Securities and Exchange Commission. Further, notwithstanding the foregoing, Executive will not be held criminally
or civilly liable under any federal, state or local trade secret law for the disclosure of a trade secret that (1) is made (y)
in confidence to a federal, state or local official, either directly or indirectly, or to an attorney; and (z) solely for the purpose
of reporting or investigating a suspected violation or law; or (2) is made in a compliant or other document filed in a lawsuit
or other proceeding, if such filing is made under seal. Additionally, if Executive is suing the Bank for retaliation based on the
reporting of a suspected violation, of law, he may disclose a trade secret to his attorney and use the trade secret information
in the court proceeding, so long as any document containing the trade secret is filed under seal and Executive does not disclose
the trade secret except pursuant to court order.

 

    	 	12	 

     

    

 

(i)          The
Bank or Executive shall have the right to apply to any court of competent jurisdiction for injunctive relief with respect to the
enforcement of the covenants and agreements set forth in this Section 7. This remedy shall be in addition to, and not in limitation
of, any other rights or remedies to which the Bank or Executive are or may be entitled at law or in equity respecting this Agreement.

 

8.           Mitigation;
Exclusivity of Benefits.

 

(a)          The
Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor
shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another
employer after the Date of Termination or otherwise, except as set forth in Sections 5(e)(B) and 5(f)(B) above.

 

(b)          The
specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive
upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or the Corporation or otherwise.

 

9.           Withholding.
All payments required to be made by the Bank hereunder to the Executive shall be subject to the withholding of such amounts, if
any, relating to tax and other payroll deductions as the Bank shall determine are required to be withheld pursuant to any applicable
law or regulation.

 

10.         Section
409A.

 

(a)          This
Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided
in a manner that is either exempt from or compliant with the requirements of Section 409A of the Code and applicable Internal Revenue
Service guidance and Treasury Regulations issued thereunder. Nevertheless, the tax treatment of the benefits provided under the
Agreement is not warranted or guaranteed. Neither the Bank nor its directors, officers, employees, or advisers shall be held liable
for any taxes, interest, penalties, or other monetary amounts owed by the Executive as a result of the application of Section 409A
of the Code.

 

(b)          Notwithstanding
any provision in the Agreement to the contrary, to the extent necessary to avoid the imposition of tax on the Executive under Section
409A of the Code, any payments that are otherwise payable to the Executive within the first six (6) months following the Date of
Termination, shall be suspended and paid as soon as practicable following the end of the six-month period following the Date of
Termination if, immediately prior to the Executive’s termination, the Executive is determined to be a “specified employee”
(within the meaning of Section 409A(a)(2)(B)(i) of the Code) of the Bank (or any related “service recipient” within
the meaning of Section 409A of the Code and the regulations thereunder). Any payments suspended by operation of the foregoing sentence
shall be paid as a lump sum within thirty (30) days following the end of such six-month period. Payments (or portions thereof)
that would be paid latest in time during the six-month period will be suspended first.

 

    	 	13	 

     

    

 

(c)          The
Bank shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4) to
the Executive of deferred amounts, provided that such distribution meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).

 

11.         Legal
Fees. If, after a Change in Control, it appears to Executive that (a) the Employer has failed to comply with any of its obligations
under this Agreement, or (b) the Employer or any other person (other than Executive) has taken any action to declare this Agreement
void or unenforceable, or instituted any litigation or other legal action designed to deny, diminish, or to recover from Executive
the benefits intended to be provided to Executive hereunder (including any payment pursuant to Section 5 of this Agreement), the
Employer irrevocably authorizes Executive from time to time to retain counsel of his choice, at the Employer’s expense, to
represent Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against
the Employer or any of its affiliated companies or any director, officer, shareholder, or other person affiliated with the Employer.
Executive shall give the Employer notice within ten (10) days after retaining any such counsel. The fees and expenses of counsel
selected from time to time by Executive as provided in this Section 11 shall be paid or reimbursed to Executive by the Employer,
whether suit or an arbitration proceeding has been brought or not. The Employer’s obligation to pay Executive’s legal
fees provided by this Section 11 operates separately from and in addition to any legal fee reimbursement obligation the Employer
has with Executive under any separate severance or other agreement.

 

12.         Assignability.
The Bank may assign this Agreement and its rights and obligations hereunder in whole, but not in part, to any corporation, bank
or other entity with or into which the Bank may hereafter merge or consolidate or to which the Bank may transfer all or substantially
all of its assets, if in any such case said corporation, bank or other entity shall by operation of law or expressly in writing
assume all obligations of the Bank hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign
this Agreement or its rights and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or
obligations hereunder.

 

13.         Notice.
For the purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage
prepaid, addressed to the respective addresses set forth below:

 

	To the Bank:	Secretary
	 	Home Bank, N.A.
	 	503 Kaliste Saloom
	 	Lafayette, Louisiana 70508
	 	 
	To the Executive:	Jason Paul Freyou
	 	At the address last appearing on
	 	the personnel records of the Employer

 

    	 	14	 

     

    

 

14.         Amendment;
Waiver. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge
is agreed to in writing signed by the Executive and such officer or officers as may be specifically designated by the Bank Board
to sign on its behalf. No waiver by any party hereto at any time of any breach by any other party hereto of, or compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time.

 

15.         Governing
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the United
States where applicable and otherwise by the substantive laws of the State of Louisiana.

 

16.         Nature
of Obligations. Nothing contained herein shall create or require the Bank to create a trust of any kind to fund any benefits
which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Bank hereunder,
such right shall be no greater than the right of any unsecured general creditor of the Bank.

 

17.         Headings.
The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

 

18.         Validity.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provisions of this Agreement, which shall remain in full force and effect.

 

19.         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together
shall constitute one and the same instrument.

 

20.         Regulatory
Actions and Prohibitions. The following provisions shall be controlling in the event of a conflict with any other provision
of this Agreement, including without limitation Section 5 hereof.

 

(a)          Notwithstanding
any other provision of this Agreement to the contrary, any payments made to the Executive pursuant to this Agreement, or otherwise,
are subject to and conditioned upon their compliance with Section 18(k) of the FDIA (12 U.S.C. §1828(k)) and 12 C.F.R. Part
359 (collectively, the “Golden Parachute Restrictions”). In the event any such payments become due and payable
under this Agreement at a time when such payments would constitute “golden parachute payments,” other than “golden
parachute payments” for which the concurrence or consent of the appropriate federal banking agency has been received as contemplated
by the Golden Parachute Restrictions, the obligation on the part of the Employer to make any such payments shall become null and
void.

 

(b)          If
the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs
pursuant to notice served under Section 8(e) or Section 8(g) of the Federal Deposit Insurance Act (“FDIA”)(12
U.S.C. §§1818(e) and 1818(g)), the Bank shall have the right to suspend all obligations of the Bank under this Agreement
as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank shall
reinstate prospectively (in whole or in part) any of its obligations which were suspended.

 

    	 	15	 

     

    

 

(c)          If
the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs
by an order issued under Section 8(e) or Section 8(g) of the FDIA (12 U.S.C. §§1818(e) and (g)), the Bank shall have
the right to terminate all obligations of the Bank under this Agreement as of the effective date of such order, except for payment
of the Accrued Obligations.

 

(d)          If
the Bank is in default, as defined in Section 3(x)(1) of the FDIA (12 U.S.C. §1813(x)(1)), all obligations under this Agreement
shall terminate as of the date of default, but vested rights of the Executive and the Bank as of the date of termination shall
not be affected.

 

(e)          All
obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5), except to the extent that it is
determined that continuation of the Agreement for the continued operation of the Bank is necessary: (i) by the Comptroller of the
Currency, or his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an
agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA (12 U.S.C.
 §1823(c)); or (ii) by the Comptroller of the Currency, or his/her designee, at the time the Comptroller of the Currency or
his/her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined
by the Comptroller of the Currency to be in an unsafe or unsound condition, but vested rights of the Executive and the Employer
as of the date of termination shall not be affected.

 

(f)           Any
payments suspended by operation of this Section 20 shall be paid as a lump sum within thirty (30) days following receipt of the
concurrence or consent of the appropriate federal banking agency of the Bank or as otherwise directed by such federal banking agency.

 

(g)          All
obligations under this Agreement are further subject to such conditions, restrictions, limitations and forfeiture provisions as
may separately apply pursuant to any applicable state banking laws.

 

21.         Changes
in Statutes or Regulations. If any statutory or regulatory provision referenced herein is subsequently changed or re-numbered,
or is replaced by a separate provision, then the references in this Agreement to such statutory or regulatory provision shall be
deemed to be a reference to such section as amended, re-numbered or replaced.

 

22.         Entire
Agreement. This Agreement embodies the entire agreement between the Bank and the Executive with respect to the matters agreed
to herein. All prior agreements between the Bank and the Executive with respect to the matters agreed to herein, including but
not limited to the Prior Agreement, are hereby superseded and shall have no force or effect.

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF,
this Agreement has been executed as of the date first written above.

 

	Attest:	 	HOME BANK, N.A.
	 	 	 	 
	/s/ Daniel G. Guidry	 	By:	/s/ Michael P. Maraist
	Daniel G. Guidry	 	 	Michael P. Maraist
	Corporate Secretary	 	 	Chairman of the Board
	 	 	 
	 	 	EXECUTIVE
	 	 	 	 
	 	 	By:	/s/ Jason Paul Freyou
	 	 	 	Jason Paul Freyou

 

    	 	17

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