Document:

2003 Equity Incentive Plan, as amended

 Exhibit 10.1 
 FIBERNET TELECOM GROUP, INC. 
 2003 EQUITY INCENTIVE PLAN 
 PREAMBLE 
 The FiberNet Telecom Group,
Inc. 2003 Equity Incentive Plan (as amended, the “Plan”), as set forth herein, amends and restates the FiberNet Telecom Group, Inc. 1999 Stock Option Plan, as amended. The Plan is intended to incorporate the provisions of the 1999 Stock
Option Plan and permit FiberNet Telecom Group, Inc., a Delaware corporation (the “Company”), to provide additional forms of equity based incentives in order to attract and retain highly motivated employees and to provide them with
opportunities to acquire a proprietary interest in the Company. 
 SECTION 1. 
 Establishment, Objectives, and Duration 
 1.1. Establishment of the Plan. The Company
hereby amends and restates the FiberNet Telecom Group, Inc. 1999 Stock Option Plan. The 1999 Stock Option Plan was amended and renamed the FiberNet Telecom Group, Inc. Equity Incentive Plan on May 23, 2000. The FiberNet Telecom Group, Inc.
Equity Incentive Plan was further amended and renamed the FiberNet Telecom Group, Inc. 2003 Equity Incentive Plan by the Board of Directors on February 5, 2003 and approved by the Company’s stockholders by a majority written consent on
February 13, 2003. The Plan will become effective on or about May 6, 2003 (the “Effective Date”). An amendment to the Plan was approved by the Board of Directors on April 26, 2006 and by the Company’s stockholders on
June 14, 2006. 
 1.2. Purpose of the Plan. The purpose of the Plan is to benefit the Company and its subsidiaries and affiliated
companies by enabling the Company to offer to certain present and future employees, directors and consultants stock based incentives and other equity interests in the Company, thereby giving them a stake in the growth and prosperity of the Company
and encouraging the continuance of their services with the Company or subsidiaries or affiliated companies. 
 1.3. Duration of the Plan. The
Plan shall commence on the Effective Date and shall remain in effect, subject to the right of the Board of Directors to amend or terminate the Plan at any time pursuant to Section 16 hereof, until all Shares subject to it shall have been
purchased or acquired according to the Plan’s provisions. However, in no event may an Award (defined below in Section 2) be granted under the Plan on or after May 6, 2013. 
 SECTION 2. 
 Definitions 
 Whenever used in the Plan, the following terms shall have the meanings set forth below, and when the meaning is intended, the initial letter of the word
shall be capitalized: 
 “Administrator” means the Board or the Compensation Committee of the Board, as described below in
Section 3. 

 “Affiliate” means a corporation which for purposes of Section 424 of the Code, is a parent
or subsidiary of the Company, direct or indirect. 
 “Award” means, individually or collectively, a grant under the Plan of
Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Performance Shares or Performance Units. 
 “Award Agreement” means a written agreement between the Company and each Participant that sets forth the terms and provisions applicable to an Award or Awards granted to each Participant under the Plan, and is a condition to the
grant of an Award or Award hereunder. 
 “Board” means the Board of Directors of the Company. 
 “Cause” means, as determined by the Administrator, in its sole discretion, termination of the Participant’s employment, service as a
Director, or consulting arrangement with the Company or any Affiliate or Subsidiary because of: 
 (a) In the case where there
is no employment, change in control or similar agreement in effect between the Participant and the Company or any Affiliate or Subsidiary, or where there is such an agreement, but a termination for “cause” would not be permitted under such
agreement at that time or the agreement does not define “cause” (or similar words), 
 (i) the Participant’s
dishonesty, theft or conviction of any crime or offense involving money or property of the Company or any Affiliate or Subsidiary, 
 (ii) the Participant’s gross negligence, gross incompetence, or willful misconduct in the performance of his or her duties, 
 (iii) the Participant’s willful and continued failure or refusal to perform his or her duties (other than any such failure resulting from the Participant’s Disability), or 
 (iv) such other act or omission as determined in the Administrator’s sole discretion. 
 (b) In the case where there is an employment, change in control or similar agreement in effect between the Participant and the Company or
an Affiliate or Subsidiary that defines “cause” (or similar words), and a termination for “cause” would be permitted under such agreement at that time, such termination of employment, service as a Director, or consulting
arrangement is or would be deemed to be for “cause” as defined in such agreement. 
 “Change of Control” of the Company
shall mean: 
 (a) The Company is merged, consolidated or reorganized into or with another corporation or other legal person
(an “Acquiror”) and as a result of such merger, consolidation or reorganization, less than 51% of the outstanding voting securities or other capital interests of the surviving, resulting or acquiring corporation or other legal person are
owned in the aggregate by the stockholders of the Company, directly or indirectly, immediately prior to such merger, consolidation or reorganization, other than by the Acquiror or any corporation or other legal person controlling, controlled by or
under common control with the Acquiror; 
  

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 (b) The Company sells all or substantially all of its business and/or assets to an
Acquiror, of which less than 51% of the outstanding voting securities or other capital interests are owned in the aggregate by the stockholders of the Company, directly or indirectly, immediately prior to such sale, other than by any corporation or
other legal person controlling, controlled by or under common control with the Acquiror; 
 (c) There is a report filed on
Schedule 13D or Schedule 14D (or any successor schedule form or report), each as promulgated pursuant to the Exchange Act, disclosing that any person or group (as the terms “person” and “group” are used in Section 13(d) or
Section 14(d) of the Exchange Act and the rules and regulations promulgated thereunder) has become the beneficial owner (as the term “beneficial owner” is defined under Rule l3d- 3 or any successor rule or regulation promulgated under
the Exchange Act) of 20% or more of the issued and outstanding shares of voting securities of Company; 
 (d) During any
period of two consecutive years, the Continuing Directors cease to constitute at least a majority of the Board; or 
 (e) Any
other event that the Board determines shall constitute a Change in Control for purposes of the Plan. 
 “Code” means the Internal
Revenue Code of 1986, as amended from time to time, or any successor legislation thereto. 
 “Company” means FiberNet Telecom
Group, Inc., a Delaware corporation, as well as any successor to such entity as provided in Section 18 herein. 
 “Continuing
Directors” means, during any two year period, the Directors still in office who either were Directors at the beginning of the two year period or who were Directors elected to the Board and whose election or nomination was approved by a vote of
at least two-thirds of the Directors then still in office who were Directors at the beginning of the two year period or whose election to the Board was previously so approved. 
 “Director” means any individual who is a member of the Board. 
 “Disability” means, unless otherwise provided for in an employment, change of control or similar agreement in effect between the Participant and the Company or an Affiliate or Subsidiary, the inability of an
employee, Director or consultant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or which has lasted or can be expected to last for a
continuous period of not less than 12 months, as determined by the Administrator, based upon medical evidence. 
  

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 “Effective Date” means May 6, 2003, the effective date of this amended and restated
Plan. 
 “Employee” means any employee of the Company or any Affiliate. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto. 
 “Fair Market Value” means (i) for purposes of establishing any Option Price as of the date of the Award, unless otherwise required by any
applicable provision of the Code or any regulations issued thereunder, or unless the Administrator otherwise determines, the closing sales price for the Shares, if applicable, or the average of the last bid and ask prices of the Shares on or before
4:00 p.m. eastern time (as reported by Bloomberg, L.P.); and (ii) for purposes of the valuation of any Shares delivered in payment of the Option Price upon the exercise of an Option, for purposes of the valuation of any Shares withheld in
payment of the Option Price or to pay taxes due on an Award, or for purposes of the exercise of any SAR or conversion of a Performance Unit, unless the Administrator otherwise determines, the closing sales price for the Shares, if applicable, or the
average of the last bid and ask prices of the Shares on or before 4:00 p.m. eastern time (as reported by Bloomberg, L.P.) on the date of exercise (or if the date of exercise is not a trading day, on the trading day next preceding the date of
exercise). 
 “Good Reason” shall mean, with respect to the termination of a Participant’s employment or consulting
arrangement, 
 (a) In the case where there is no employment, change in control or similar agreement in effect between the
Participant and the Company or any Affiliate or Subsidiary, or where there is such an agreement but the agreement does not define “good reason” (or similar words) or a “good reason” termination would not be permitted under such
agreement at that time because other conditions were not satisfied, a voluntary termination of an employment arrangement or consulting arrangement due to “good reason” shall mean as determined by the Administrator, in its sole discretion
the following: 
 (i) the assignment of the Participant of any duties which results in a material diminution in such position,
authority, duties or responsibilities; or 
 (ii) the Participant as a condition to remaining employed or continuing his or
her consulting arrangement is required to relocate his or her place of service at least 50 miles from his or her current place of service; or 
 (b) In the case where there is an employment, change in control or similar agreement in effect between the Participant and the Company or an Affiliate or Subsidiary that defines “good reason” (or similar
words) and a “good reason” termination would be permitted under such agreement at that time, such termination is or would be deemed to be for “good reason” (or similar words) as defined in such agreement. 
  

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 “Incentive Stock Option” or “ISO” means an option to purchase Shares that is intended
to meet the requirements of Code Section 422, as described in Section 6 herein. 
 “Insider” shall mean an individual who
is, on the relevant date, an officer, Director or more than ten percent (10%) beneficial owner of any class of the Company’s equity securities that is registered pursuant to Section 12 of the Exchange Act, all as defined under
Section 16 of the Exchange Act. 
 “Named Executive Officer” means a Participant who is one of the group of covered employees
as defined in the regulations promulgated under Code Section 162(m), or any successor statute. 
 “Nonqualified Stock Option”
or “NQSO” means an option to purchase Shares granted under Section 6 herein and which is not intended to meet the requirements of Code Section 422. 
 “Option” means an Incentive Stock Option or a Nonqualified Stock Option, as described in Section 6 herein. 
 “Option Price” means the per share purchase price of a Share purchased pursuant to an Option. 
 “Participant” means an Employee, prospective Employee, employee or prospective employee of a Subsidiary, Director or consultant who has outstanding an Award granted under the Plan. 
 “Performance-Based Exception” means the exception for performance-based compensation from the tax deductibility limitations of Code
Section 162(m). 
 “Performance Period” means the time period during which performance goals must be achieved with respect to
an Award, as determined by the Administrator. 
 “Performance Share” means an Award granted to a Participant, as described in
Section 9 herein. 
 “Performance Unit” means an Award granted to a Participant, as described in Section 9 herein.

 “Period of Restriction” means the period during which the transfer of Shares of Restricted Stock is limited in some way, and the
Shares are subject to a substantial risk of forfeiture, as provided in Section 8 herein. 
 “Plan” means the FiberNet Telecom
Group, Inc. 2003 Equity Incentive Plan, an amendment and restatement of the Company’s Equity Incentive Plan, as set forth herein. 
 “Restricted Stock” means an Award granted to a Participant pursuant to Section 8 herein. 
  

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 “Retirement” means the Participant’s termination of employment with the Company or its
Affiliates or Subsidiaries on or after the date on which the Participant reaches age 55 if he or she has at least ten years of service with the Company, or reaches age 65 regardless of his or her years of service. Notwithstanding the foregoing, the
Administrator may, in its sole discretion, determine that a Participant has met the criteria for a Retirement termination from the Company. 
 “Share” or “Shares” means shares of common stock of the Company, par value $.001. 
 “Stock Appreciation
Right” or “SAR” means an Award, granted alone or in connection with a related Option, designated as an SAR, pursuant to the terms of Section 7 herein. 
 “Subsidiary” means any corporation, partnership, joint venture, affiliate, or other entity in which the Company is at least a majority-owner of all issued and outstanding equity interests or has a
controlling interest. 
 “Tandem SAR” means an SAR that is granted in connection with a related Option pursuant to Section 7
herein, the exercise of which shall require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased under the Option, the Tandem SAR shall similarly be forfeited). 
 “Non-Tandem SAR” means an SAR that is granted independently of any Options, as described in Section 7 herein. 
 SECTION 3. 
 Administration 

3.1. Plan Administrator. The Administrator of the Plan shall be the Compensation Committee of the Board, or any other committee appointed by the
Board. The Board may, from time to time, remove members from, or add members to, the Compensation Committee. Any vacancies on the Compensation Committee shall be filled by members of the Board. The foregoing notwithstanding, the Board shall perform
the functions of the Administrator for purposes of granting Awards to non-Employee Directors. However, the Board shall not have exclusive authority with respect to other aspects of non-Employee Director Awards. If and to the extent that no committee
exists that has the authority to administer the Plan, the Board shall administer the Plan. Acts of a majority of the Administrator at which a quorum is present, or acts reduced to or approved in writing by unanimous consent of the members of the
Administrator, shall be valid acts of the Administrator. 
 3.2. Authority of the Administrator. Except as limited by law or by the
Certificate of Incorporation or Bylaws of the Company, and subject to the provisions herein, the Administrator shall have full power to select Participants who shall be granted Awards under the Plan; determine the sizes and types of Awards;
determine the terms and conditions of Awards in a manner consistent with the Plan; construe and interpret the Plan and any agreement or instrument entered into under the Plan; establish, amend, or waive rules and regulations for the Plan’s

  

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administration; and (subject to the provisions of Section 16 herein) amend the terms and conditions of any outstanding Award to the extent such terms
and conditions are within the sole discretion of the Administrator as provided in the Plan. Further, the Administrator shall make all other determinations, which may be necessary or advisable for the administration of the Plan. As permitted by law,
the Administrator may delegate the authority granted to it herein. 
 3.3. Decisions Binding. All determinations and decisions made by the
Administrator pursuant to the provisions of the Plan and all related orders and resolutions of the Board shall be final, conclusive and binding on all persons, including the Company, its stockholders, employees, Participants, and their estates and
beneficiaries. 
 SECTION 4. 
 Shares Subject to the Plan and Maximum Awards 
 4.1. Shares Available for Awards. 
 (a) The Shares available for Awards may be either authorized and unissued Shares or Shares held in or acquired for the treasury of the
Company. The aggregate number of Shares that may be issued or used for reference purposes under the Plan or with respect to which Awards may be granted shall not exceed (i) 1,569,434 Shares (subject to adjustment as provided in
Section 4.3); plus (ii) 10% of the number of Shares issued or delivered by the Company on or after June 5, 2007 other than issuances or deliveries under the Plan or other incentive compensation plans of the Company; provided, however,
that the aggregate number of Shares with respect to which ISOs may be granted shall not exceed the number specified under item (i) above. 
 (b) Upon (i) a payout of a Non-Tandem SAR, Tandem SAR, or Restricted Stock award in the form of cash, (ii) a cancellation, termination, expiration, forfeiture, or lapse for any reason (with the exception of
the termination of a Tandem SAR upon exercise of the related Options, or the termination of a related Option upon exercise of the corresponding Tandem SAR) of any Award or (iii) payment of an Option Price and/or payment of any taxes arising
upon exercise of an Option or payout of any Award with previously acquired Shares or by withholding Shares which otherwise would be acquired on exercise or issued upon such payout, the number of Shares underlying any such Award that were not issued
as a result of any of the foregoing actions shall again be available for the purposes of Awards under the Plan. 
 (c) In
addition, in the case of any Award granted in substitution for an award of a company or business acquired by the Company or any Affiliate or Subsidiary, Shares issued or issuable in connection with such substitute Award shall not be counted against
the number of Shares reserved under the Plan, but shall be available under the Plan by virtue of the Company’s assumption of the plan or arrangement of the acquired company or business. 
 4.2. Individual Participant Limitations. Unless and until the Administrator determines that an Award to a Named Executive Officer shall not be designed
to comply with the Performance-Based Exception, the following rules shall apply to grants of such Awards under the Plan: 
 (a) Subject to adjustment as provided in Section 4.3 herein, the maximum aggregate number of Shares (including Options, SARs, Restricted Stock, Performance Units and Performance Shares to be paid out in Shares) that may be granted in
any one fiscal year to a Participant shall be 333,333 as of June 14, 2006. 
  

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 (b) The maximum aggregate cash payout (including Performance Units and Performance Shares
paid out in cash) with respect to Awards granted in any one fiscal year that may be made to any Participant shall be $20,000,000. 
 4.3.
Adjustments in Authorized Shares. In the event of any change in corporate capitalization, such as a stock split, or a corporate transaction, such as any merger, consolidation, separation, including a spin-off, or other distribution of stock or
property of the Company, any reorganization (whether or not such reorganization comes within the definition of such term in Code Section 368) or any partial or complete liquidation of the Company, an adjustment shall be made in the number and
class of Shares available for Awards, the number and class of and/or price of Shares subject to outstanding Awards granted under the Plan and the number of Shares set forth in Sections 4.1 and 4.2, as may be determined to be appropriate and
equitable by the Administrator, in its sole discretion, to prevent dilution or enlargement of rights; provided, however, that the number of Shares subject to any Award shall always be a whole number. 
 SECTION 5. 
 Eligibility and
Participation 
 5.1. Eligibility. Persons eligible to participate in the Plan include all current and future Employees (including officers),
employees of a Subsidiary, persons who have been offered employment by the Company or an Affiliate or Subsidiary (provided that such prospective employee may not receive any payment or exercise any right relating to an Award until such person has
commenced employment with the Company or an Affiliate or Subsidiary), Directors and consultants of the Company and its Affiliates and Subsidiaries, as determined by the Administrator, including employees of the Company and its Affiliates or
Subsidiaries who reside in countries other than the United States of America. 
 5.2. Participation. Subject to the provisions of the Plan,
the Administrator shall determine and designate, from time to time, the Participants to whom Awards shall be granted, the terms of such Awards, and the number of Shares subject to such Award. 
 SECTION 6. 
 Stock Options 
 6.1. Grant of Options and Award Agreement. 
 (a) Option Grant. Subject to the terms and provisions of the Plan, Options may be granted to one or more Participants in such number, upon such terms and 

  

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provisions, and at any time and from time to time, as determined by the Administrator, in its sole discretion. The Administrator may grant either
Nonqualified Stock Options or Incentive Stock Options, and shall have complete discretion in determining the number of Options of each granted to each Participant (subject to Section 4 herein); provided, however, that ISOs may only be granted
to Employees. 
 (b) Award Agreement. The Company and each Participant to whom an Option is granted shall execute an Award
Agreement, effective as of the date of grant, which shall specify the Option Price, the term of the Option, the number of Shares subject to the Option, and such other provisions as the Administrator shall determine, and which are not inconsistent
with the terms and provisions of the Plan. The Award Agreement shall also specify whether the Option is intended to be an ISO within the meaning of Code Section 422. If such Option is not designated as an ISO, such Option shall be deemed a
NQSO. 
 6.2. Option Price. The Administrator shall designate the Option Price for each Share subject to an Option under the Plan, provided
that such Option Price for Options designated as ISOs shall not be less than one hundred percent (100%) of the Fair Market Value of Shares subject to an Option on the date the Option is granted. With respect to a Participant who owns, directly
or indirectly, more than ten percent (10%) of the total combined voting power of all classes of the stock of the Company or an Affiliate, the Option Price of Shares subject to an ISO shall be at least one hundred and ten percent (110%) of
the Fair Market Value of such Shares on the date of grant. 
 6.3. Term of Options. Each Option granted to an Employee shall expire at such
time as the Administrator shall determine at the time of grant, but in no event shall be exercisable later than the tenth (10th) anniversary of the date of grant. Notwithstanding the foregoing, with respect to ISOs, in the case of a Participant
who owns, directly or indirectly, more than ten percent (10%) of the total combined voting power of all classes of the stock of the Company or an Affiliate, no such ISO shall be exercisable later than the fifth (5th) anniversary of the
date of grant. 
 6.4. Exercise of Options. Options granted under this Section 6 shall be exercisable at such times and be subject to
such restrictions and conditions as the Administrator shall in each instance approve, which need not be the same for each grant or for each Participant, and shall be set forth in the applicable Award Agreement. Notwithstanding the preceding
sentence, the Award Agreements shall restrict the amount of ISOs which may become exercisable in any calendar year (under this or any other ISO plan of the Company or an Affiliate) so that the aggregate Fair Market Value of Shares (determined at the
time each ISO is granted) with respect to which ISOs are exercisable for the first time by any Participant during any calendar year may not exceed $100,000. Any ISOs that become exercisable in excess of such amount shall be deemed NQSOs to the
extent of such excess. If the Award Agreement does not specify the time or times at which the Option shall first become exercisable, such an Option shall become exercisable by the Participant (i) to a maximum cumulative extent of one-third of
the Shares covered by the Option on the first anniversary of the date of grant, and (ii) to a maximum cumulative extent of two-thirds of the Shares covered by the Option on the second anniversary of the date of grant, and (iii) to a
maximum cumulative extent of 100% of the Shares covered by the Option on the third anniversary of the date of grant. 
  

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 6.5. Payment. Options granted under this Section 6 shall be exercised by the delivery of a written
notice of exercise to the Company, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. The Option Price upon exercise of any Option shall be payable to the Company in
full either: 
 (a) in cash or its equivalent, 
 (b) at the discretion of the Administrator, by tendering previously acquired Shares having an aggregate Fair Market Value at the time of
exercise equal to the total Option Price, 
 (c) at the discretion of the Administrator, by withholding Shares that otherwise
would be acquired on exercise having an aggregate Fair Market Value at the time of exercise equal to the total Option Price, 
 (d) at the discretion of the Administrator, by tendering other Awards payable under the Plan, or 
 (e) by a
combination of (a), (b), (c) and/or (d). 
 The Administrator also may allow cashless exercise as permitted under Federal Reserve
Board’s Regulation T, subject to applicable securities law restrictions, or by any other means that the Administrator determines to be consistent with the Plan’s purpose and applicable law. As soon as practicable after receipt of a written
notification of exercise and full payment, the Company shall deliver to the Participant the number of Shares purchased under the Option(s). 
 In connection with the exercise of Options granted under the Plan, the Company may make loans to the Participants as the Administrator, in its sole discretion, may determine. Such loans shall be subject to the terms and conditions as the
Administrator shall determine not inconsistent with the Plan; provided, however, that in no event may any such loan exceed the Fair Market Value, at the date of exercise, of the shares covered by the Option, or portion thereof exercised by the
Participant. Any loan made pursuant to this Section 6.5 shall comply with Regulation U issued by the Board of Governors of the Federal Reserve System pursuant to the Exchange Act. 
 6.6. Termination of Employment, Service as a Director, or Consulting Arrangement. The Administrator, in its sole discretion, shall set forth in the
applicable Award Agreement the extent to which a Participant shall have the right to exercise the Option or Options following termination of his or her employment, service as a Director, or consulting arrangement with the Company and/or its
Affiliates or Subsidiaries. Such provisions need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for such termination, including, but not limited to, termination for Cause or Good
Reason, or reasons relating to the breach or threatened breach of restrictive covenants. Subject to Section 14, in the event that a Participant’s Award Agreement does not set forth such provisions, the following provisions shall apply:

 (a) Death, Disability and Retirement. In the event that each of the Participant’s employment, service as a Director and consulting
arrangement with the Company and/or any Affiliate or Subsidiary terminates by reason of death, Disability or Retirement, all of his or her Options shall immediately become fully vested and shall remain exercisable until the earlier of (A) the
remainder of the term of the Option, or (B) 12 months after the date of such termination provided that in the case of an ISO such twelve month period shall be reduced to three months. In the case of the Participant’s death, the
Participant’s beneficiary or estate may exercise the Option. 
  

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 (b) Termination for Cause. In the event that each of the Participant’s employment, service as a
Director and consulting arrangement with the Company and/or any Affiliate or Subsidiary terminates for Cause, all Options shall expire immediately and all rights to purchase Shares (vested or nonvested) under the Option shall cease. 
 (c) Other Termination. In the event that each of the Participant’s employment, service as a Director and consulting arrangement with the Company
and/or any Affiliate or Subsidiary terminates for any reason other than death, Disability, Retirement or for Cause, all Options held by the Participant shall expire and all rights to purchase Shares thereunder shall terminate immediately.
Notwithstanding the preceding sentence, all Options as to which the Participant has a vested right to exercise the Option immediately prior to such termination shall remain exercisable until the earlier of (A) the remainder of the term of the
Option, or (B) 90 days from the date of termination. 
 6.7. Restrictions on Share Transferability. The Administrator may impose such
restrictions on any Shares acquired pursuant to the exercise of an Option granted under this Section 6 as it may deem advisable, including, without limitation, restrictions under applicable Federal securities laws, under the requirements of any
stock exchange or market upon which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares. 
 6.8. Nontransferability of Options. 
 (a) Incentive Stock Options. No ISO granted under the Plan may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, all ISOs granted to a Participant under the Plan shall be exercisable during his or her lifetime only by
such Participant. 
 (b) Nonqualified Stock Options. Except as otherwise provided in a Participant’s Award Agreement, or as provided by
the Administrator, no NQSO granted under this Section 6 may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, except as otherwise provided in
a Participant’s Award Agreement, all NQSOs granted to a Participant under this Section 6 shall be exercisable during his or her lifetime only by such Participant. 
 6.9. Prior Option Grants. The terms and conditions of this amended and restated Plan shall supersede, amend and modify the terms and conditions of any
written agreement covering an Option granted to a Participant under the Plan prior to the Effective Date; provided that this 

  

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Section 6.9 shall only apply if the Participant and the Company enter into a written agreement to effect the amendments and/or modifications.
Notwithstanding the preceding sentence, to the extent that an amendment and/or modification would result in adverse tax consequences to the Participant and/or adverse accounting treatment with respect to the Option, such amendment and/or
modification shall not be effective. 
 SECTION 7. 
 Stock Appreciation Rights 
 7.1. Grant of SARs and Award Agreement. 
 (a) SAR Grant. Subject to the terms and conditions of the Plan, SARs may be granted to Participants at any time and from time to time as
shall be determined by the Administrator. The Administrator may grant Non-Tandem SARs, Tandem SARs, or any combination of these forms of SARs. The Administrator shall have complete discretion in determining the number of SARs granted to each
Participant (subject to Section 4 herein) and, consistent with the provisions of the Plan, in determining the terms and conditions pertaining to such SARs. The Administrator shall designate, at the time of grant, the grant price of a Non-Tandem
SAR, which grant price shall be at least equal to the Fair Market Value of a Share on the date of grant of the SAR. The grant price of Tandem SARs shall equal the Option Price of the related Option. Grant prices of SARs shall not subsequently be
changed by the Administrator, except pursuant to Section 4.3 hereof. 
 (b) Award Agreement. The Company and each
Participant to whom an SAR is granted shall execute an Award Agreement that shall specify the grant price, the term of the SAR, and such other provisions as the Administrator shall determine, and which are not inconsistent with the terms and
provisions of the Plan. 
 7.2. Term of SARs. The term of a SAR granted under the Plan shall be determined by the Administrator, in its sole
discretion; provided, however, that unless otherwise designated by the Administrator, such term shall not exceed ten (10) years from the date of grant. 
 7.3. Exercise of Tandem SARs. Tandem SARs may be exercised for all or part of the Shares subject to the related Option upon the surrender of the right to exercise the equivalent portion of the related Option. A Tandem
SAR may be exercised only with respect to the Shares for which its related Option is then exercisable. Notwithstanding any other provision of the Plan to the contrary, with respect to a Tandem SAR granted in connection with an ISO: (i) the
Tandem SAR will expire no later than the expiration of the underlying ISO; (ii) the value of the payout with respect to the Tandem SAR may be for no more than one hundred percent (100%) of the difference between the Option Price of the
underlying ISO and the Fair Market Value of the Shares subject to the underlying ISO at the time the Tandem SAR is exercised; and (iii) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the ISO exceeds the
Option Price of the ISO. 
 7.4. Exercise of Non-Tandem SARs. Non-Tandem SARs may be exercised upon whatever terms and conditions the
Administrator, in its sole discretion, imposes upon them. 
  

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 7.5. Payment of SAR Amount. Upon exercise of a SAR, a Participant shall be entitled to receive payment
from the Company in an amount determined by multiplying: 
 (a) The excess of the Fair Market Value of a Share on the date of exercise over
the grant price; by 
 (b) The number of Shares with respect to which the SAR is exercised. 
 At the sole discretion of the Administrator, the payment upon SAR exercise may be in cash, in Shares of equivalent value, or in some combination thereof.

 7.6. Termination of Employment, Service as a Director, or Consulting Arrangement. The Administrator, in its sole discretion, shall set
forth in the applicable Award Agreement the extent to which a Participant shall have the right to exercise the SAR or SARs following termination of his or her employment, service as a Director, or consulting arrangement with the Company and/or its
Affiliates or Subsidiaries. Such provisions need not be uniform among all SARs issued pursuant to the Plan, and may reflect distinctions based on the reasons for such termination, including, but not limited to, termination for Cause or Good Reason,
or reasons relating to the breach or threatened breach of restrictive covenants. Subject to Section 14, in the event that a Participant’s Award Agreement does not set forth such provisions, the following provisions shall apply: 

(a) Death, Disability and Retirement. In the event that each of the Participant’s employment, service as a Director and consulting arrangement
with the Company and/or any Affiliate or Subsidiary terminates by reason of death, Disability or Retirement, all of his or her SARs shall immediately become fully vested (subject to Section 14) and shall remain exercisable until the earlier of
(A) the remainder of the term of the SAR, or (B) 12 months after the date of such termination. In the case of the Participant’s death, the Participant’s beneficiary or estate may exercise the SAR. 
 (b) Termination for Cause. In the event that each of the Participant’s employment, service as a Director and consulting arrangement with the Company
and/or any Affiliate or Subsidiary terminates for Cause, all SARs shall expire immediately and all rights thereunder shall cease. 
 (c)
Other Termination. In the event that each of the Participant’s employment, service as a Director and consulting arrangement with the Company and/or any Affiliate or Subsidiary terminates for any reason other than death, Disability, Retirement
or for Cause, all SARs held by the Participant shall expire and all rights thereunder shall terminate immediately. Notwithstanding the preceding sentence, all SARs to which the Participant has a vested right to exercise the SAR immediately prior to
such termination shall be exercisable until the earlier of (A) the remainder of the term of the SAR, or (B) 90 days from the date of termination. 
 7.7. Nontransferability of SARs. Except as otherwise provided in a Participant’s Award Agreement, no SAR granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
other than by will or by the laws of descent and distribution. Further, except as otherwise provided in a Participant’s Award Agreement, all SARs granted to a Participant under the Plan shall be exercisable during his or her lifetime only by
such Participant. 
  

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 SECTION 8. 
 Restricted Stock 
 8.1. Grant of Restricted Stock and Award Agreement. 
 (a) Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may
grant Shares of Restricted Stock to Participants in such amounts as the Administrator shall determine. 
 (b) Award Agreement.
The Company and each Participant to whom an award of Restricted Stock is granted shall execute an Award Agreement that shall specify the Period or Periods of Restriction, the number of Shares of Restricted Stock granted, and such other provisions as
the Administrator shall determine pursuant to Section 8.3 or otherwise, and which shall not be inconsistent with the terms and provisions of the Plan. If no Period of Restriction is set forth in the Award Agreement, the Period of Restriction
shall be three years for restrictions lapsing due to the passage of time and one year for restrictions lapsing due to the achievement of performance goals. 
 8.2. Transferability. Except as provided in this Section 8, the Shares of Restricted Stock granted herein may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, voluntarily or
involuntarily, until the end of the applicable Period of Restriction established by the Administrator and specified in the Restricted Stock Award Agreement, or upon earlier satisfaction of any other conditions, as specified by the Administrator in
its sole discretion and set forth in the Restricted Stock Award Agreement. All rights with respect to the Restricted Stock granted to a Participant under the Plan shall be available during his or her lifetime only to such Participant. 
 8.3. Other Restrictions. Subject to Section 10 herein, the Administrator may impose such other conditions and/or restrictions on any Shares of
Restricted Stock granted pursuant to the Plan as it may deem advisable including without limitation, a requirement that Participants pay a stipulated purchase price for each Share of Restricted Stock, restrictions based upon the achievement of
specific performance goals (Company-wide, Subsidiary-wide, divisional, and/or individual), time-based restrictions on vesting, which may or may not be following the attainment of the performance goals, sales restrictions under applicable stockholder
agreements or similar agreements, and/or restrictions under applicable Federal or state securities laws. The Company shall retain the Shares of Restricted Stock in the Company’s possession until such time as all conditions and/or restrictions
applicable to such Shares have been satisfied. Except as otherwise provided in this Section 8 or in any Award Agreement, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan shall become freely transferable by
the Participant after the last day of the applicable Period of Restriction. 
 8.4. Voting Rights. Unless otherwise designated by the
Administrator at the time of grant, Participants to whom Shares of Restricted Stock have been granted hereunder may exercise full voting rights with respect to those Shares during the Period of Restriction. 
  

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 8.5. Dividends and Other Distributions. Unless otherwise designated by the Administrator at the time of
grant, Participants holding Shares of Restricted Stock granted hereunder shall be credited with regular cash dividends paid with respect to the underlying Shares while they are so held during the Period of Restriction. The Administrator may apply
any restrictions to the dividends that the Administrator deems appropriate. Without limiting the generality of the preceding sentence, if the grant or vesting of Shares of Restricted Stock granted to a Named Executive Officer is designed to comply
with the requirements of the Performance-Based Exception, the Administrator may apply any restrictions it deems appropriate to the payment of dividends declared with respect to such Shares of Restricted Stock, such that the dividends and/or the
Shares of Restricted Stock maintain eligibility for the Performance-Based Exception. In the event that any dividend constitutes a derivative security or an equity security pursuant to the rules under Section 16 of the Exchange Act, such
dividend shall be subject to a vesting period equal to the remaining vesting period of the Shares of Restricted Stock with respect to which the dividend is paid. 
 8.6. Termination of Employment, Service as a Director, or Consulting Arrangement. The Administrator, in its sole discretion, shall set forth in the applicable Award Agreement the extent to which the Participant shall
have the right to receive unvested Shares of Restricted Stock following termination of the Participant’s employment, service as a Director, or consulting arrangement with the Company and/or its Affiliates or Subsidiaries. Such provisions need
not be uniform among all Shares of Restricted Stock issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of employment including; but not limited to, termination of employment for Cause or Good Reason, or
reasons relating to the breach or threatened breach of restrictive covenants; provided, however that, except in the cases of terminations connected with a Change of Control and terminations by reason of death or Disability, the vesting of Shares of
Restricted Stock that qualify for the Performance-Based Exception and that are held by Named Executive Officers shall not occur prior to the time they otherwise would have, but for the employment termination. Subject to Section 14, in the event
that a Participant’s Award Agreement does not set forth such termination provisions, the following termination provisions shall apply: 
 (a) Death, Disability and Retirement. Unless the Award qualifies for the Performance-Based Exception, in the event that each of a Participant’s employment, service as a Director, and consulting arrangement with the Company and/or its
Affiliates or Subsidiaries is terminated due to death, Disability or Retirement, all Shares of Restricted Stock of such Participant shall immediately become fully vested on the date of termination and the restrictions shall lapse. 
 (b) Other Termination. In the event that each of a Participant’s employment, service as a Director, and consulting arrangement with the Company
and/or its Affiliates or Subsidiaries is terminated for any reason other than death, Disability or Retirement, all Shares of Restricted Stock that are unvested at the date of termination shall be forfeited to the Company. 
  

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 SECTION 9. 
 Performance Units and Performance Shares 
 9.1. Grant of Performance Units/Shares and Award Agreement.

 (a) Grant of Performance Unit/Shares. Subject to the terms of the Plan, Performance Units and/or Performance Shares may be
granted to Participants in such amounts and upon such terms, and at any time and from time to time, as shall be determined by the Administrator, which shall not be inconsistent with the terms and provisions of the Plan and shall be set forth in an
Award Agreement. 
 (b) Award Agreement. The Company and each Participant to whom Performance Units and/or Performance Shares
is granted shall execute an Award Agreement that shall specify the initial value of the Award, the performance goals and the Performance Period, as the Administrator shall determine, and which are not inconsistent with the terms and provisions of
the Plan. 
 9.2. Value of Performance Units/Shares. Each Performance Unit shall have an initial value that is established by the
Administrator at the time of grant. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the date of grant. The Administrator shall set performance goals in its sole discretion which, depending on the
extent to which they are met will determine the number and/or value of Performance Units and/or Performance Shares that will be paid out to the Participant. For purposes of this Section 9, the time period during which the performance goals must
be met shall be called a Performance Period. 
 9.3. Earning of Performance Units/Shares. Subject to the terms of the Plan, after the
applicable Performance Period has ended, the holder of Performance Units and/or Performance Shares shall be entitled to receive payout on the number and value of Performance Units and/or Performance Shares earned by the Participant over the
Performance Period, to be determined as a function of the extent to which the corresponding performance goals have been achieved, as established by the Administrator. 
 9.4. Form and Timing of Payment of Performance Units/Shares. 
 (a) Except as provided below, payment of
earned Performance Units and/or Performance Shares shall be made in a single lump sum as soon as reasonably practicable following the close of the applicable Performance Period. Subject to the terms of the Plan, the Administrator, in its sole
discretion, may pay earned Performance Units and/or Performance Shares in the form of cash or in Shares (or in a combination thereof) which have an aggregate Fair Market Value equal to the value of the earned Performance Units and/or Performance
Shares at the close of the applicable Performance Period. Such Shares may be granted subject to any restrictions deemed appropriate by the Administrator. 
 (b) At the time of grant or shortly thereafter, the Administrator, at its sole discretion and in accordance with terms designated by the Administrator, may provide for a voluntary and/or mandatory deferral of all or
any part of an otherwise earned Performance Unit and/or Performance Share Award. 
  

 16 

 (c) At the sole discretion of the Administrator, Participants may be entitled to receive any dividends
declared with respect to Shares which have been earned in connection with grants of Performance Units and/or Performance Shares which have been earned, but not yet distributed to Participants (such dividends shall be subject to the same accrual,
forfeiture, and payout restrictions as apply to dividends earned with respect to Shares of Restricted Stock, as set forth in Section 8.6 herein). In addition, Participants may, at the sole discretion of the Administrator, be entitled to
exercise their voting rights with respect to such Shares. 
 9.5. Termination of Employment, Service as a Director, or Consulting
Arrangement. The Administrator, in its sole discretion, shall set forth in the applicable Award Agreement the extent to which the Participant shall have the right to receive payment for Performance Units and/or Performance Shares following
termination of the Participant’s employment, service as a Director, or consulting arrangement with the Company and/or its Affiliates or Subsidiaries. Such provisions need not be uniform among all Performance Units and/or Performance Shares
granted pursuant to the Plan, and may reflect distinctions based on the reasons for such termination including; but not limited to, termination for Cause or Good Reason, or reasons relating to the breach or threatened breach of restrictive
covenants. Subject to Section 14, in the event that a Participant’s Award Agreement does not set forth such termination provisions, the following termination provisions shall apply: 
 (a) Death, Disability and Retirement. Subject to Section 14, in the event that each of a Participant’s employment, service as a
Director, and consulting arrangement with the Company and/or its Affiliates or Subsidiaries is terminated during a Performance Period due to death, Disability or Retirement, the Participant shall receive a prorated payout of the Performance Units
and/or Performance Shares, unless the Administrator determines otherwise. The prorated payout shall be determined by the Administrator, shall be based upon the length of time that the Participant held the Performance Units and/or Performance Shares
during the Performance Period, and shall further be adjusted based on the achievement of the pre-established performance goals. Subject to Section 14, unless the Administrator determines otherwise in the event of a termination due to death,
Disability or Retirement payment of earned Performance Units and/or Performance Shares shall be made at the same time as payments are made to Participants who did not terminate employment during the applicable Performance Period. 
 (b) Other Termination. Subject to Section 14, in the event that each of a Participant’s employment, service as a Director, and
consulting arrangement with the Company and/or its Affiliates or Subsidiaries is terminated during a Performance Period for any reason other than death, Disability or Retirement, all Performance Units and/or Performance Shares shall be forfeited by
the Participant to the Company. 
 9.6. Nontransferability. Except as otherwise provided in a Participant’s Award Agreement, Performance
Units and/or Performance Shares may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, except as otherwise provided in a Participant’s
Award Agreement, a Participant’s rights under the Plan shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s legal representative. 
  

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 SECTION 10. 
 Performance Measures 
 10.1. Unless and until the Administrator proposes for stockholder vote and
stockholders approve a change in the general performance measures set forth in this Section 10, the attainment of which may determine the degree of payout and/or vesting with respect to Awards to Named Executive Officers that are designed to
qualify for the Performance-Based Exception, the performance goals to be used for purposes of such grants shall be established by the Administrator in writing and stated in terms of the attainment of specified levels of or percentage changes in any
one or more of the following measurements: revenue; primary or fully-diluted earnings per Share; earnings before interest, taxes, depreciation, and/or amortization; pretax income; cash flow from operations; total cash flow; return on equity; return
on capital; return on assets; net operating profits after taxes; economic value added; total stockholder return or return on sales; or any individual performance objective which is measured solely in terms of quantitative targets related to the
Company or the Company’s business; or any combination thereof. In addition, such performance goals may be based in whole or in part upon the performance of the Company, a Subsidiary, division and/or other operational unit under one or more of
such measures. 
 10.2. The degree of payout and/or vesting of such Awards designed to qualify for the Performance-Based Exception shall be
determined based upon the written certification of the Administrator as to the extent to which the performance goals and any other material terms and conditions precedent to such payment and/or vesting have been satisfied. The Administrator shall
have the sole discretion to adjust the determinations of the degree of attainment of the pre-established performance goals; provided, however, that the performance goals applicable to Awards which are designed to qualify for the Performance- Based
Exception, and which are held by Named Executive Officers, may not be adjusted so as to increase the payment under the Award (the Administrator shall retain the sole discretion to adjust such performance goals upward, or to otherwise reduce the
amount of the payment and/or vesting of the Award relative to the pre-established performance goals). 
 10.3. In the event that applicable
tax and/or securities laws change to permit Administrator sole discretion to alter the governing performance measures without obtaining stockholder approval of such changes, the Administrator shall have sole discretion to make such changes without
obtaining stockholder approval. In addition, in the event that the Administrator determines that it is advisable to grant Awards which shall not qualify for the Performance-Based Exception, the Administrator may make such grants without satisfying
the requirements of Code Section 162(m) and, thus, which use performance measures other than those specified above. 
  

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 SECTION 11. 
 Award Forfeitures 
 11.1. Forfeiture of Options and Other Awards and Gains Realized Upon Prior Option
Exercises or Award Settlements. Unless otherwise determined by the Administrator, each Award granted hereunder shall be subject to the following additional forfeiture conditions, to which the Participant, by accepting an Award hereunder, agrees. If
any of the events specified in Section 11.2 occurs (a “Forfeiture Event”), all of the following forfeitures will result: 
 (a) The unexercised portion of any Option, whether or not vested, and any other Award not then settled (except for an Award that has not been settled solely due to an elective deferral pursuant to Section 12 by
the Participant and otherwise is not forfeitable in the event of any termination of service of the Participant) will be immediately forfeited and canceled upon the occurrence of the Forfeiture Event; and 
 (b) The Participant will be obligated to repay to the Company, in cash, within five business days after demand is made therefor by the
Company, the total amount of Award Gain (as defined herein) realized by the Participant upon each exercise of an Option or settlement of an Award (regardless of any elective deferral pursuant to Section 12) that occurred on or after
(i) the date that is six months prior to the occurrence of the Forfeiture Event, if the Forfeiture Event occurred while the Participant was employed by the Company or an Affiliate or Subsidiary, or (ii) the date that is six months prior to
the date the Participant’s employment by, service as a Director with, or consulting arrangement with the Company or an Affiliate or Subsidiary terminated, if the Forfeiture Event occurred after the Participant ceased to be so employed.

 For purposes of this Section, the term “Award Gain” shall mean (i) in respect of a given Option exercise, the product of
(X) the Fair Market Value per Share at the date of such exercise (without regard to any subsequent change in the market price of shares) minus the Option Price times (Y) the number of shares as to which the Option was exercised at that
date, and (ii) in respect of any other settlement of an Award granted to the Participant, the Fair Market Value of the cash or Shares paid or payable to Participant (regardless of any elective deferral pursuant to Section 12) less any cash
or the Fair Market Value of any shares or property (other than an Award or award that would have itself then been forfeitable hereunder and excluding any payment of tax withholding) paid by the Participant to the Company as a condition of or in
connection such settlement. 
 11.2. Events Triggering Forfeiture. The forfeitures specified in Section 11.1 will be triggered upon the
occurrence of any one of the following Forfeiture Events at any time during the Participant’s employment by, service as a Director with, or consulting arrangement with the Company or an Affiliate or Subsidiary during the one-year period
following termination of such employment, service or consulting arrangement: 
 (a) Non-Solicitation. The Participant, for his
or her own benefit or for the benefit of any other person, company or entity, directly or indirectly, (i) induces or attempts to induce or hires or otherwise counsels, induces or attempts to induce or hire or 

  

 19 

 
otherwise counsel, advise, encourage or solicit any person to leave the employment of or the service for the Company or any Affiliate or Subsidiary,
(ii) hires or in any manner employs or retains the services of any individual employed by or providing services to the Company or any Affiliate or Subsidiary as of the date of his or her termination of employment, or employed by or providing
services to the Company or any Affiliate or Subsidiary subsequent to such termination, (iii) solicits, pursues, calls upon or takes away, any of the customers of the Company or any Affiliate or Subsidiary, (iv) solicits, pursues, calls
upon or takes away, any potential customer of the Company or any Affiliate or Subsidiary that has been the subject of a bid, offer or proposal by the Company or any Affiliate or Subsidiary, or of substantial preparation with a view to making such a
bid, proposal or offer, within six (6) months prior to such Participant’s termination of employment with the Company or any Affiliate or Subsidiary, or (v) otherwise interferes with the business or accounts of the Company or any
Affiliate or Subsidiary. 
 (b) Non-Competition. The Participant engages in “competition” (as defined below in this
subparagraph (b)) with the Company or any Affiliate or Subsidiary in any locality or region of the United States in which the Company or any Affiliate or Subsidiary had operations at the time of, or within six (6) months prior to, the
termination of the Participant’s employment with the Company or any Affiliate or Subsidiary, or in which, during the six (6) months period prior to the termination of the Participant’s employment with the Company or any Affiliate or
Subsidiary, the Company or any Affiliate or Subsidiary had made substantial plans with the intention of establishing operations in such locality or region; provided that, it shall not be a violation of this provision for the Participant to become
the registered or beneficial owner of up to five percent (5%) of any class of the capital stock of a competing corporation registered under the Exchange Act provided that the Participant does not actively participate in the business of such
corporation until the one-year period following the Participant’s termination ends. For purposes of the Plan, “competition” means the Participant engages in, or otherwise directly or indirectly is employed by or acts as a consultant
or lender to, or is a director, officer, employee, principal, agent, stockholder, member, owner or partner of, or permits the Participant’s name to be used in connection with, the activities of any other business or organization anywhere in the
United States that directly or indirectly designs, develops, operates, builds or manufactures in-building communications transmission networks, or any other business of the Company or any Affiliate or Subsidiary at any time during or following the
Participant’s employment with the Company or any Affiliate or Subsidiary. 
 (c) Confidential Information. The
Participant discloses to any person or entity or makes use of any “confidential or proprietary information” (as defined below in this subparagraph (c)) for his or her own purpose or for the benefit of any person or entity, except as may be
necessary in the ordinary course of employment with or other service to the Company or any Affiliate or Subsidiary. Such “confidential or proprietary information” of the Company or any Affiliate or Subsidiary, includes, but is not limited
to, the design, development, operation, building or manufacturing of in-building communications transmission networks, the identity of the Company’s or any Affiliate’s or Subsidiary’s customers, the identity of representatives of
customers with whom the 

  

 20 

 
Company or any Affiliate or Subsidiary has dealt, the kinds of services provided by the Company or any Affiliate or Subsidiary to customers and offered to be
performed for potential customers, the manner in which such services are performed or offered to be performed, the service needs of actual or prospective customers, pricing information, information concerning the creation, acquisition or disposition
of products and services, customer maintenance listings, computer software and hardware applications and other programs, personnel information, information identifying, relating to or concerning investors in the Company or any Affiliate or
Subsidiary, joint venture partners of the Company or any Affiliate or Subsidiary, business partners of the Company or any Affiliate or Subsidiary or other entities providing financing to the Company or any Affiliate or Subsidiary, real estate and
leasing opportunities, communications and telecommunications operations and processes, zoning and licensing matters, relationships with, or matters involving, landlords and/or property owners, and other trade secrets. 
 11.3. Agreement Does Not Prohibit Competition or Other Participant Activities. Although the conditions set forth in this Section 11 shall be deemed
to be incorporated into an Award, the Plan does not thereby prohibit the Participant from engaging in any activity, including but not limited to competition with the Company and its Affiliates and Subsidiaries. Rather, the non-occurrence of the
Forfeiture Events set forth in Section 11.2 is a condition to the Participant’s right to realize and retain value from his or her compensatory Awards, and the consequence under the Plan if the Participant engages in an activity giving rise
to any such Forfeiture Event are the forfeitures specified herein. This provision shall not preclude the Company and the Participant from entering into other written agreements concerning the subject matter of Sections 11.1 and 11.2 and, to the
extent any terms of this Section 11 are inconsistent with any express terms of such agreement, this Section 11 shall not be deemed to modify or amend such terms. 
 11.4. Administrator Discretion. The Administrator may, in its sole discretion, waive in whole or in part the Company’s right to forfeiture under
this Section, but no such waiver shall be effective unless evidenced by a writing signed by a duly authorized officer of the Company. In addition, the Administrator may impose additional conditions on Awards, by inclusion of appropriate provisions
in the document evidencing or governing any such Award. 
 SECTION 12. 
 Deferrals 
 The Administrator may permit a Participant to defer such Participant’s
receipt of the payment of cash or the delivery of Shares that would otherwise be due to such Participant upon the exercise of any Option or by virtue of the lapse or waiver of restrictions with respect to Restricted Stock, or the satisfaction of any
requirements or goals with respect to Performance Units/Shares. If any such deferral election is required or permitted, the Administrator shall, in its sole discretion, establish rules and procedures for such payment deferrals. 
  

 21 

 SECTION 13. 
 Rights and Obligations of Parties 
 13.1. No Guarantee of Employment or Service Rights. Nothing in the Plan
shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment or consulting arrangement at any time, nor confer upon any Participant any right to continue in the employ of or consulting arrangement
with the Company or any Affiliate or Subsidiary. For purposes of the Plan, temporary absence from employment because of illness, vacation, approved leaves of absence, and transfers of employment among the Company and its Affiliates and Subsidiaries,
shall not be considered to terminate employment or to interrupt continuous employment. Temporary cessation of the provision of consulting services because of illness, vacation or any other reason approved in advance by the Company shall not be
considered a termination of the consulting arrangement or an interruption of the continuity thereof. Conversion of a Participant’s employment relationship to a consulting arrangement shall not result in termination of previously granted Awards.

 13.2. Participation. No employee, Director or consultant shall have the right to be selected to receive an Award under the Plan, or,
having been so selected, to be selected to receive a future Award. 
 13.3. Right of Setoff. The Company or any Affiliate or Subsidiary may,
to the extent permitted by applicable law, deduct from and set off against any amounts the Company or Affiliate or Subsidiary may owe to the Participant from time to time, including amounts payable in connection with any Award, owed as wages, fringe
benefits, or other compensation owed to the Participant, such amounts as may be owed by the Participant to the Company or any Affiliate or Subsidiary, although the Participant shall remain liable for any part of the Participant’s payment
obligation not satisfied through such deduction and setoff. By accepting any Award granted hereunder, the Participant agrees to any deduction or setoff under this Section 13. 
 13.4. Section 83(b) Election. No election under Section 83(b) of the Code (to include in gross income in the year of transfer the amounts
specified in Code Section 83(b)) or under a similar provision of the laws of a jurisdiction outside the United States may be made, unless expressly permitted by the terms of the Award Agreement or by action of the Administrator in writing prior
to the making of such election. In any case in which a Participant is permitted to make such an election in connection with an Award, the Participant shall notify the Company of such election within ten days of filing notice of the election with the
Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to regulations issued under Code Section 83(b) or other applicable provision. 
 13.5. Disqualifying Disposition Notification. If any Participant shall make any disposition of Shares delivered pursuant to the exercise of an ISO under
the circumstances described in Code Section 421(b) (relating to certain disqualifying dispositions), such Participant shall notify the Company of such disposition within (10) ten days thereof. A Disqualifying Disposition is defined in
Section 424(c) of the Code and includes any disposition (including any sale or gift) of such shares before the later of (a) two years after the date the Employee was granted the ISO, or (b) one year after the date the Employee
acquired Shares by exercising the 

  

 22 

 
ISO, except as otherwise provided in Section 424(c) of the Code. If the Employee has died before such stock is sold, these holding period requirements
do not apply and no Disqualifying Disposition can occur thereafter. 
 SECTION 14. 
 Change of Control 
 14.1. Upon the occurrence
of a Change of Control, unless otherwise specifically prohibited under applicable laws, or by the rules and regulations of any governing governmental agencies or national securities exchanges: 
 (a) Any and all Options and SARs granted hereunder shall become immediately exercisable, and shall remain exercisable in accordance with
this Plan and the Participant’s Award Agreement; 
 (b) Any Period of Restriction and other restrictions imposed on
Restricted Shares shall lapse; and 
 (c) Unless otherwise specified in a Participant’s Award Agreement at time of grant,
the maximum payout opportunities attainable under all outstanding Awards of Performance Units and Performance Shares shall be deemed to have been fully earned for the entire Performance Period(s) as of the effective date of the Change of Control.
The vesting of all such Awards shall be accelerated as of the effective date of the Change of Control, and in full settlement of such Awards, there shall be paid out in cash to Participants within thirty (30) days following the effective date
of the Change of Control the maximum of payout opportunities associated with such outstanding Awards. 
 14.2. The foregoing provisions of
this Section 14 notwithstanding, the Board and the Continuing Directors may determine that no Change in Control shall be deemed to have occurred or that some or all of the enhancements to the rights of Participants under outstanding Awards upon
a Change in Control, as provided under this Section 14 or the Award Agreement, shall not apply to specified Awards if, prior to the later of occurrence of the specified event that would otherwise constitute a Change in Control (the
“Event”) or the expiration of seven days after the Company has obtained actual notice that such Event has occurred, the following conditions have been met: 
 (a) The Board and the Continuing Directors of the Company then in office, each by a majority vote thereof, determine that the occurrence
of such Event shall not be deemed to be a Change in Control hereunder, shall not be deemed to be a Change in Control with respect to one or more specified Participants, or shall not result in specified enhancements to the rights of one or more
Participants that would otherwise be triggered by the occurrence of a Change in Control; and 
 (b) The Participant holding an
Award affected by action of the Board and Continuing Directors under this Section 14 shall be protected by legally binding obligations of the Company as follows: 
 (i) Such Award either shall remain outstanding following consummation of all transactions involved in or contemplated by such Change in
Control or shall be assumed and adjusted by the surviving entity resulting from such transactions, and the Continuing Directors determine, in either case, that changes in the terms of the Award resulting from such transactions will not materially
impair its value to the Participant or his or her opportunity for future appreciation in respect of such Award; and 
  

 23 

 (ii) If, within two years following the Event, the Participant’s employment by the
Company or the surviving entity that has assumed the obligations under the Award (or by an affiliate) is terminated by such employer without Cause, or is terminated by the Participant for Good Reason, such Participant’s rights in respect of
such Award shall be no less favorable than would be the case if a Change in Control had occurred (without any limitation on the enhancement of the Participant’s rights) immediately prior to the Participant’s termination of employment.

 SECTION 15. 
 Dissolution and Corporate Transactions 
 15.1. Dissolution and Liquidation. Upon the dissolution or liquidation of the Company, all
Awards granted under this Plan which as of such date shall not have been exercised or accepted, as the case may be, will terminate and become null and void; provided, however, that if the rights of a Participant have not otherwise terminated and
expired, the Participant will have the right immediately prior to such dissolution or liquidation to exercise or accept any Award to the extent that the Award is exercisable or subject to acceptance as of the date immediately prior to such
dissolution or liquidation. 
 15.2. Effect of Corporate Transaction on Options. If the Company is to be consolidated with or acquired by
another entity in a merger, sale of all or substantially all of the Company’s assets other than a transaction to merely change the state of incorporation (a “Corporate Transaction”), the Administrator or the board of directors of any
entity assuming the obligations of the Company hereunder (the “Successor Board”), shall, as to outstanding Options, either (i) make appropriate provision for the continuation of such Options by substituting on an equitable basis for
the Shares then subject to such Options either the consideration payable with respect to the outstanding shares of Common Stock in connection with the Corporate Transaction or securities of any successor or acquiring entity; or (ii) upon
written notice to the Participants, provide that all Options must be exercised (either to the extent then exercisable or, at the discretion of the Administrator, or, upon a Change of Control of the Company, all Options being made fully exercisable
for purposes of this Subparagraph), within a specified number of days of the date of such notice, at the end of which period the Options shall terminate; or (iii) terminate all Options in exchange for a cash payment equal to the excess of the
Fair Market Value of the Shares subject to such Options (either to the extent then exercisable or, at the discretion of the Administrator, all Options being made fully exercisable for purposes of this Subparagraph) over the exercise price thereof.

  

 24 

 15.3. Effect of Corporate Transaction on other Awards other than Options. Upon the happening of any of
the events described in Section 15.2 above, Stock Appreciation Rights Restricted Stock, Performance Shares and Performance Units shall be appropriately adjusted to reflect the events described in Section 15.2. The Administrator or the
Successor Board shall determine the specific adjustments to be made under this Section 15.3, and its determination shall be conclusive. 
 15.4. Change of Control. In the event any provision of this Section 15 conflicts with Section 14, the provisions of Section 14 shall govern. 
 SECTION 16. 
 Amendment, Modification, and Termination 
 16.1. Amendment, Modification, and Termination. The Board may amend, suspend or terminate the Plan or the Administrator’s authority to grant Awards
under the Plan without the consent of stockholders or Participants; provided, however, that any amendment to the Plan shall be submitted to the Company’s stockholders for approval not later than the earliest annual meeting for which the record
date is after the date of such Board action if such stockholder approval is required by any federal or state law or regulation or the rules of any stock exchange or automated quotation system on which the Shares may then be listed or quoted and the
Board may otherwise, in its sole discretion, determine to submit other amendments to the Plan to stockholders for approval; and provided further, that, without the consent of an affected Participant, no such Board action may materially and adversely
affect the rights of such Participant under any outstanding Award. The Administrator shall have no authority to waive or modify any other Award term after the Award has been granted to the extent that the waived or modified term was mandatory under
the Plan. 
 16.2. Awards Previously Granted. No termination, amendment, or modification of the Plan shall adversely affect in any material
way any Award previously granted under the Plan, without the written consent of the Participant holding such Award. 
 SECTION 17.

 Withholding 
 17.1. Tax
Withholding. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy Federal, state, and local taxes, domestic or foreign, required by law or regulation
to be withheld with respect to any taxable event arising as a result of the Plan. 
 17.2. Share Withholding. With respect to withholding
required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock, or upon any other taxable event arising as a result of Awards granted hereunder, Participants may elect, subject to the approval of the Administrator,
to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax which would be imposed on the transaction.

  

 25 

 
All such elections shall be irrevocable, made in writing, signed by the Participant, and shall be subject to any restrictions or limitations that the
Administrator, in its sole discretion, deems appropriate. 
 SECTION 18. 
 Successors 
 All obligations of the Company under the Plan with respect to Awards
granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect merger, consolidation, purchase of all or substantially all of the business and/or assets of the
Company or otherwise. 
 SECTION 19. 
 Miscellaneous 
 19.1. Unfunded Plan. The Plan is intended to constitute an “unfunded” plan for
incentive and deferred compensation. With respect to any payments not yet made to a Participant or obligation to deliver Shares pursuant to an Award, nothing contained in the Plan or any Award shall give any such Participant any rights that are
greater than those of a general creditor of the Company; provided that the Administrator may authorize the creation of trusts and deposit therein cash, Shares, other Awards or other property, or make other arrangements to meet the Company’s
obligations under the Plan. Such trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Administrator otherwise determines with the consent of each affected Participant. 
 19.2. Forfeitures; Fractional Shares. Unless otherwise determined by the Administrator, in the event of a forfeiture of an Award with respect to which a
Participant paid cash consideration, the Participant shall be repaid the amount of such cash consideration. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award. The Administrator shall determine whether cash, other
Awards or other property shall be issued or paid in lieu of such fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. 
 19.3. Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural
shall include the singular and the singular shall include the plural. 
 19.4. Severability. In the event any provision of the Plan shall be
held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
 19.5. Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable laws, rules, and
regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 19.6. Securities Law
Compliance. With respect to Insiders, transactions under the Plan 

  

 26 

 
are intended to comply with all applicable conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent any provision of the Plan or
action by the Administrator fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable by the Administrator. 
 19.7. Governing Law. To the extent not preempted by Federal law, the Plan, and all agreements hereunder, shall be construed in accordance with and governed by the laws of the State of Delaware. 
  

 27Exhibit 10.1

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this “Agreement”) is made effective as of
___________________ (the “Effective Date”), by and between The LaPorte Savings Bank, an Indiana chartered stock savings bank with its principal office in LaPorte, Indiana (the “Bank”) and Lee A. Brady
(“Executive”). For purposes of this agreement, any reference to the “Company” shall mean LaPorte Bancorp, Inc., the stock holding company of the Bank. The Company is a signatory to this Agreement for the purpose of guaranteeing
the Bank’s performance hereunder. 
 WHEREAS, Executive is serving as President and Chief Executive Officer of the Bank and the
Bank wishes to assure itself of the services of Executive as an officer of the Bank for the period provided in this Agreement; and 
 WHEREAS, in order to induce Executive to remain in the employ of the Bank and to provide further incentive for Executive to achieve the financial and performance objectives of the Bank, the parties desire to enter into this
Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained, and upon the terms and conditions hereinafter
provided, the parties hereby agree as follows: 
  

	1.	POSITION AND RESPONSIBILITIES. 

 During the term of
this Agreement, Executive shall serve as President and Chief Executive Officer of the Bank. Executive shall be responsible for the overall management of the Bank, and shall be responsible for establishing the business objectives, policies and
strategic plan of the Bank, in conjunction with the Board of Directors of the Bank (the “Board”). Executive also shall be responsible for providing leadership and direction to all departments or divisions of the Bank, and shall be the
primary contact between the Board and the staff. As Chief Executive Officer, Executive shall directly report to the Board. Executive also shall be nominated as a member of the Board, subject to election by members or shareholders of the Bank, as the
case may be. Executive also agrees to serve, if elected, as an officer and director of any affiliate of the Bank. 
  

	2.	TERM AND DUTIES. 

 (a) Three Year Contract;
Annual Renewal. The term of Executive’s employment under this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement
(the “Anniversary Date”) and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is three (3) years, unless written notice of
non-renewal (a “Non-Renewal Notice”) is provided to Executive at least thirty (30) days and not more than sixty (60) days prior to such Anniversary Date, in which case the term of this Agreement shall become fixed and shall end
three (3) years following such Anniversary Date. The disinterested members of the Board of Directors (the “Board”) of the Bank will conduct a performance evaluation and review of Executive annually for purposes of determining whether
to give notice not to extend the term of this Agreement, and the results thereof shall be included in the minutes of the Board’s meeting. 

 (b) Termination of Agreement. Notwithstanding anything contained in this Agreement to the
contrary, either Executive or the Bank may terminate Executive’s employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. 
 (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive’s
employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. 
 (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall
devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however,
that, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, which, in the Board’s judgment, will not present any conflict of
interest with the Bank, or materially affect the performance of Executive’s duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a
director or officer. 
  

	3.	COMPENSATION, BENEFITS AND REIMBURSEMENT. 

 (a)
Base Salary. In consideration of Executive’s performance of the duties set forth in Section 2, the Bank shall provide Executive the compensation specified in this Agreement. The Bank shall pay Executive a salary of $184,347.00 per
year (“Base Salary”). The Base Salary shall be payable biweekly, or with such other frequency as officers of the Bank are generally paid. During the term of this Agreement, the Base Salary shall be reviewed at least annually by the Board
or by a committee designated by the Board, and the Bank may increase, but not decrease (except for a decrease that is generally applicable to all employees) Executive’s Base Salary. Any increase in Base Salary shall become “Base
Salary” for purposes of this Agreement. 
 (b) Bonus and Incentive Compensation. Executive shall be entitled to equitable
participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of
other compensation to which Executive is entitled under this Agreement. 
 (c) Employee Benefits. The Bank shall provide Executive
with employee benefit plans, arrangements and perquisites substantially equivalent to those in which Executive was participating or from which he was deriving benefit immediately prior to the commencement of the term of this Agreement, and the Bank
shall not, without Executive’s prior written consent, make any changes in such plans, arrangements or perquisites that would adversely affect 

  

 2 

 
Executive’s rights or benefits thereunder, except as to any changes that are applicable to all participating employees. Without limiting the generality
of the foregoing provisions of this Section 3(c), Executive will be entitled to participate in and receive benefits under any employee benefit plans including, but not limited to, retirement plans, supplemental retirement plans, pension plans,
profit-sharing plans, health-and-accident insurance plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank and/or the Company in the future to its senior executives, including any stock benefit plans,
subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. 
 (d) Paid
Time Off. Executive shall be entitled to paid vacation time each year during the term of this Agreement (measured on a fiscal or calendar year basis, in accordance with the Bank’s usual practices), as well as sick leave, holidays and other
paid absences in accordance with the Bank’s policies and procedures for senior executives. Any unused paid time off during an annual period shall be treated in accordance with the Bank’s personnel policies as in effect from time to time.

 (e) Expense Reimbursements. During the term of this Agreement, the Bank shall pay or reimburse Executive for the full cost of the
use of an automobile that is mutually agreeable to the Bank and Executive. The Bank shall also pay or reimburse Executive for all reasonable travel, entertainment and other reasonable expenses incurred by Executive during the course of performing
his obligations under this Agreement, including, without limitation, fees for memberships in such clubs and organizations as Executive and the Board shall mutually agree are necessary and appropriate in connection with the performance of his duties
under this Agreement, upon presentation to the Bank of an itemized account of such expenses in such form as the Bank may reasonably require. 
  

	4.	PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. 

 (a) Upon the occurrence of an Event of Termination (as herein defined) during the term of this Agreement, the provisions of this Section 4 shall apply; provided, however, that in the event such Event of Termination occurs within 18
months or less following a Change in Control (as defined in Section 5 hereof), Section 5 shall apply instead. As used in this Agreement, an “Event of Termination” shall mean and include any one or more of the following:

 (i) the involuntary termination of Executive’s employment hereunder by the Bank for any reason other than termination
governed by Section 5 (in connection with or following a Change in Control), Section 6 (due to Disability), Section 7 (due to Retirement), or Section 8 (for Just Cause), provided that such termination constitutes a
“Separation from Service” within the meaning of Section 409A of the Internal Revenue Code (“Code”); or 
 (ii) Executive’s resignation from the Bank’s employ upon any of the following, unless consented to by Executive: 
 (A) failure to appoint Executive to the position set forth in Section 1, or a material change in Executive’s function, duties, or responsibilities, which change would cause Executive’s position to become one of lesser
responsibility, importance, or scope from the 

  

 3 

 
position and responsibilities described in Section 1, to which Executive has not agreed in writing (and any such material change shall be deemed a
continuing breach of this Agreement by the Bank); 
 (B) a relocation of Executive’s principal place of employment to a
location that is more than 20 miles from the location of the Bank’s principal executive offices as of the date of this Agreement; 
 (C) a material reduction in the benefits and perquisites, including Base Salary, to Executive from those being provided as of the Effective Date (except for any reduction that is part of a reduction in pay or benefits
that is generally applicable to officers or employees of the Bank); 
 (D) a liquidation or dissolution of the Bank; or

 (E) a material breach of this Agreement by the Bank. 
 Upon the occurrence of any event described in clause (ii) above, Executive shall have the right to elect to terminate his employment under this Agreement by resignation upon not less than 30 days prior written
notice given within a reasonable period of time (not to exceed 90 days) after the event giving rise to the right to elect, which termination by Executive shall be an Event of Termination. The Bank shall have 30 days to cure the condition giving rise
to the Event of Termination, provided, that the Bank may elect to waive said 30 day period. 
 (b) Upon the occurrence of an Event of
Termination, the Bank shall pay Executive, or, in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay or liquidated damages, or both, the Base Salary and bonuses that Executive
would be entitled to for the remaining unexpired term of the Agreement. For purposes of determining the bonus(es) payable hereunder, the bonus(es) will be deemed to be (i) equal to the highest bonus paid at any time during the prior three
years, and (ii) otherwise paid at such time as such bonus would have been paid absent an Event of Termination. Such payments shall be paid within 60 days of the Executive’s termination of employment and shall not be reduced in the event
Executive obtains other employment following the Event of Termination. 
 (c) Upon the occurrence of an Event of Termination, the Bank shall
pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a lump sum cash payment reasonably estimated to be equal to the present value of the contributions that would have been made
on the Executive’s behalf under the Bank’s defined contribution plans (e.g., 401(k) Plan, ESOP, and any other defined contribution plan maintained by the Bank), as if Executive had continued working for the Bank for the remaining unexpired
term of the Agreement following such Event of Termination, earning the salary that would have been achieved during such period. The amount payable hereunder shall be paid as soon as reasonably practicable following the occurrence of the Event of
Termination but in no event shall be paid later than two and one-half months following the end of the calendar year in which the Event of Termination occurs. 
 (d) Upon the occurrence of an Event of Termination, the Bank shall provide at the Bank’s expense for the remaining unexpired term of the Agreement, nontaxable medical and 

  

 4 

 
dental coverage and life insurance coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to
the Event of Termination, except to the extent such coverage may be changed in its application to all Bank employees. 
 (e) For purposes of
this Agreement, a “Separation from Service” shall have occurred if the Bank and Executive reasonably anticipate that either no further services will be performed by the Executive after the date of the Event of Termination (whether as an
employee or as an independent contractor) or the level of further services performed will not exceed 49% of the average level of bona fide services in the 12 months immediately preceding the Event of Termination. For all purposes hereunder, the
definition of Separation from Service shall be interpreted consistent with Treasury Regulation Section 1.409A-1(h)(ii). If Executive is a Specified Employee, as defined in Code Section 409A and any payment to be made under sub-paragraph
(b) or (c) of this Section 4 shall be determined to be subject to Code Section 409A, then if required by Code Section 409A, such payment or a portion of such payment (to the minimum extent possible) shall be delayed and
shall be paid on the first day of the seventh month following Executive’s Separation from Service. 
  

	5.	CHANGE IN CONTROL. 

 (a) Any payments made to
Executive pursuant to this Section 5 are in lieu of any payments that may otherwise be owed to Executive pursuant to this Agreement under Section 4, such that Executive shall either receive payments pursuant to Section 4 or pursuant
to Section 5, but not pursuant to both Sections. 
 (b) For purposes of this Agreement, the term “Change in Control” shall
mean: 
 (i) a change in control of a nature that would be required to be reported in response to Item 5.01(a) of the
current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”); or 
 (ii) a change in control of the Bank within the meaning of the Home Owner’s Loan Act, as amended (“HOLA”), and applicable
rules and regulations promulgated thereunder, as in effect at the time of the Change in Control; or 
 (iii) any of the
following events, upon which a Change in Control shall be deemed to have occurred: 
 (A) any “person” (as the term
is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Bank or the Company representing 25% or more of
the combined voting power of such outstanding securities, except for any securities purchased by any employee stock ownership plan or trust established by the Bank or the Company; or 
 (B) individuals who constitute the Board on the Effective Date (the “Incumbent Board”) cease for any reason to constitute at
least a majority thereof, provided that 

  

 5 

 
any person becoming a director subsequent to the Effective Date whose election was approved by a vote of at least three-quarters of the directors comprising
the Incumbent Board, or whose nomination for election by stockholders of the Bank or the Company was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this subsection (B), considered as though they
were members of the Incumbent Board; or 
 (C) a sale of all or substantially all the assets of the Bank or the Company, or a
plan of reorganization, merger, consolidation, or similar transaction occurs in which the security holders of the Bank or the Company immediately prior to the consummation of the transaction do not own at least 50.1% of the securities of the
surviving entity to be outstanding upon consummation of the transaction; or 
 (D) a proxy statement is issued soliciting
proxies from stockholders of the Bank or the Company by someone other than the current management of the Bank or the Company of the Bank, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Bank or the Company,
or similar transaction with one or more corporations as a result of which the outstanding shares of the class of securities then subject to the plan are to be exchanged for or converted into cash or property or securities not issued by the Bank or
the Company; or 
 (E) a tender offer is made for 25% or more of the voting securities of the Bank or the Company, and
stockholders owning beneficially or of record 25% or more of the outstanding securities of the Bank or the Company have tendered or offered to sell their shares pursuant to such tender offer and such tendered shares have been accepted by the tender
offeror. 
 (F) Notwithstanding anything herein to the contrary, a Change in Control shall not be deemed to have occurred in
connection with the initial reorganization and conversion of the Bank to a stock Bank as the subsidiary of the Company, or upon any subsequent second-step conversion of the Company to stock form. 
 (c) Upon the occurrence of a Change in Control followed within 18 months by an Event of Termination (as defined in Section 4 hereof), Executive,
shall receive as severance pay or liquidated damages, or both, a lump sum cash payment equal to three times the sum of (i) Executive’s highest annual rate of Base Salary paid to Executive at any time under this Agreement, plus
(ii) the highest bonus paid to Executive with respect to the three completed fiscal years prior to the Change in Control. Such payment shall be made in a lump sum within 60 days of the Event of Termination. 
 (d) Upon the occurrence of a Change in Control followed within 18 months by an Event of Termination (as defined in Section 4 hereof), the Bank shall
pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a lump sum cash payment reasonably estimated to be equal to the present value of the contributions that would have been made
on Executive’s behalf under the Bank’s defined contribution plans (e.g., 401(k) Plan, ESOP, and any other defined contribution plan maintained by the Bank), as if Executive had continued working for the Bank for thirty-six (36) months
after the effective date of such termination of employment, earning the salary that would have been achieved during such period. Such payment shall be made to Executive no later than two and 

  

 6 

 
one half months after the end of the calendar year in which the Event of Termination occurred. If Executive is a Specified Employee, as defined in Code
Section 409A and any payment to be made under this sub-paragraph (c) or (d) of this Section 5 shall be determined to be subject to Code Section 409A, then if required by Code Section 409A, such payment or a portion of
such payment (to the minimum extent possible) shall be delayed and shall be paid on the first day of the seventh month following Executive’s Separation from Service. 
 (e) Upon the occurrence of a Change in Control followed within 18 months by an Event of Termination (as defined in Section 4 hereof), the Bank (or its successor) shall provide at the Bank’s (or its
successor’s) expense, nontaxable medical and dental coverage and life insurance coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to his termination, except to the extent such
coverage may be changed in its application to all Bank employees and then the coverage provided to Executive shall be commensurate with such changed coverage. Such coverage shall cease thirty-six (36) months following the termination of
Executive’s employment. 
 (f) Notwithstanding the preceding paragraphs of this Section 5, in the event that the aggregate payments
or benefits to be made or afforded to Executive in the event of a Change in Control would be deemed to include an “excess parachute payment” under Section 280G of the Internal Revenue Code or any successor thereto, then at the
election of Executive, (i) such payments or benefits shall be payable or provided to Executive over the minimum period necessary to reduce the present value of such payments or benefits to an amount that is one dollar ($1.00) less than three
times Executive’s “base amount” under such Section 280G, or (ii) the payments or benefits to be provided under this Section 5 shall be reduced to the extent necessary to avoid treatment as an excess parachute payment,
with the allocation of the reduction among such payments and benefits to be determined by Executive. 
  

	6.	TERMINATION FOR DISABILITY OR DEATH. 

 (a)
Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable
physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and
health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the
Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. 
 (b) Executive shall be entitled to receive benefits under any short- or long-term disability plan maintained by the Bank. To the extent such benefits are
less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits and the amount of Executive’s full Base Salary for five (5) years following the termination of his
employment due to Disability. 
  

 7 

 (c) The Bank shall cause to be continued life insurance coverage (other than any split dollar life
insurance coverage that terminates upon termination of employment) and medical and dental coverage substantially comparable, as reasonable available, to the coverage maintained by the Bank for Executive prior to the termination of his employment
based on Disability, except to the extent such coverage may be changed in its application to all Bank employees or not available on an individual basis to an employee terminated based on Disability. This coverage shall cease upon the earlier of
(i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) Executive attaining the age of 65; or (iv) Executive’s death. 
 (d) In the event of Executive’s death during the term of this Agreement, his estate, legal representatives or named beneficiaries (as directed by
Executive in writing) shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death for a period of two (2) years from the date of Executive’s death, and the Bank shall continue to provide medical,
dental and other insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for thirty-six (36) months after Executive’s death. Such payments are in addition to any other life
insurance benefits that Executive’s beneficiaries may be entitled to receive under any employee benefit plan maintained by the Bank for the benefit of Executive, including, but not limited to, the Bank’s tax-qualified retirement plans and
The LaPorte Savings Bank Supplemental Executive Retirement Plan (SERP). 
  

	7.	TERMINATION UPON RETIREMENT. 

 Termination of
Executive’s employment based on “Retirement” shall mean termination of Executive’s employment at any time after Executive reaches age 65 or in accordance with any retirement policy established by the Board with Executive’s
consent with respect to him. Upon termination of Executive based on Retirement, no amounts or benefits shall be due Executive under this Agreement, and Executive shall be entitled to all benefits under any retirement plan of the Bank and other plans
to which Executive is a party. 
  

	8.	TERMINATION FOR JUST CAUSE. 

 (a) The Bank may
terminate Executive’s employment at any time, but any termination other than termination for “Just Cause,” as defined herein, shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive
shall have no right to receive compensation or other benefits for any period after termination for “Just Cause.” The phrase “Just Cause” as used herein, shall exist when there has been a good faith determination by the Board that
there shall have occurred one or more of the following events with respect to the Executive: (i) the conviction of the Executive of a felony or of any lesser criminal offense involving moral turpitude; (ii) the willful commission by the
Executive of a criminal or other act that, in the judgment of the Board will likely cause substantial economic damage to the Company or the Bank or substantial injury to the business reputation of the Company or the Bank; (iii) the commission
by the Executive of an act of fraud in the performance of his duties on behalf of the Company or the Bank; (iv) the continuing willful 

  

 8 

 
failure of the Executive to perform his duties to the Company or the Bank (other than any such failure resulting from the Executive’s incapacity due to
physical or mental illness) after written notice thereof (specifying the particulars thereof in reasonable detail) and a reasonable opportunity to be heard and cure such failure are given to the Executive by the Board; or (v) an order of a
federal or state regulatory agency or a court of competent jurisdiction requiring the termination of the Executive’s employment by the Company. Notwithstanding the foregoing, Just Cause shall not be deemed to exist unless there shall have been
delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting of the Board called and held for the purpose (after reasonable notice to the
Executive and an opportunity for the Executive to be heard before the Board), finding that in the good faith opinion of the Board the Executive was guilty of conduct described above and specifying the particulars thereof. Prior to holding a meeting
at which the Board is to make a final determination whether Just Cause exists, if the Board determines in good faith at a meeting of the Board, by not less than a majority of its entire membership, that there is probable cause for it to find that
the Executive was guilty of conduct constituting Just Cause as described above, the Board may suspend the Executive from his duties hereunder for a reasonable period of time not to exceed fourteen (14) days pending a further meeting at which
the Executive shall be given the opportunity to be heard before the Board. Upon a finding of Just Cause, the Board shall deliver to the Executive a Notice of Termination, as more fully described in Section 10 below. 
 (b) For purposes of this Section 8, no act or failure to act, on the part of Executive, shall be considered “willful” unless it is done,
or omitted to be done, by Executive in bad faith or without reasonable belief that Executive’s action or omission was in the best interests of the Bank. Any act, or failure to act, based upon the direction of the Board or based upon the advice
of counsel for the Bank shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Bank. 
  

	9.	RESIGNATION FROM BOARDS OF DIRECTORS 

 In the event
of Executive’s termination of employment due to an Event of Termination, Executive’s service as a director of the Bank, the Company, and any affiliate of the Bank or the Company shall immediately terminate. This Section 9 shall
constitute a resignation notice for such purposes. 
  

	10.	NOTICE. 

 (a) Any purported termination by the Bank
for Just Cause shall be communicated by Notice of Termination to Executive. If, within thirty (30) days after any Notice of Termination for Just Cause is given, Executive notifies the Bank that a dispute exists concerning the termination, the
parties shall promptly proceed to arbitration, as provided in Section 20. Notwithstanding the pendency of any such dispute, the Bank shall discontinue paying Executive’s compensation until the dispute is finally resolved in accordance with
this Agreement. If it is determined that Executive is entitled to compensation and benefits under Section 4 or 5, the payment of such compensation and benefits by the Bank shall commence immediately following the date of resolution by
arbitration, with interest due Executive on the cash amount that would have been paid pending arbitration (at the prime rate as published in The Wall Street Journal from time to time). 
  

 9 

 (b) Any other purported termination by the Bank or by Executive shall be communicated by a “Notice
of Termination” (as defined in Section 10(c)) to the other party. If, within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists
concerning the termination, the parties shall promptly proceed to arbitration as provided in Section 20. Notwithstanding the pendency of any such dispute, the Bank shall continue to pay Executive his Base Salary, and other compensation and
benefits in effect when the notice giving rise to the dispute was given (except as to termination of Executive for Just Cause); provided, however, that such payments and benefits shall not continue beyond the date that is 36 months from the date the
Notice of Termination is given. In the event the voluntary termination by Executive of his employment is disputed by the Bank, and if it is determined in arbitration that Executive is not entitled to termination benefits pursuant to this Agreement,
he shall return all cash payments made to him pending resolution by arbitration, with interest thereon at the prime rate as published in The Wall Street Journal from time to time, if it is determined in arbitration that Executive’s
voluntary termination of employment was not taken in good faith and not in the reasonable belief that grounds existed for his voluntary termination. If it is determined that Executive is entitled to receive severance benefits under this Agreement,
then any continuation of Base Salary and other compensation and benefits made to Executive under this Section 10 shall offset the amount of any severance benefits that are due to Executive under this Agreement. 
 (c) For purposes of this Agreement, a “Notice of Termination” shall mean a written notice that shall indicate the specific termination
provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. 
  

	11.	POST-TERMINATION OBLIGATIONS. 

 (a) Executive hereby
covenants and agrees that, for a period of one year following his termination of employment with the Bank, he shall not, without the written consent of the Bank, either directly or indirectly: 
 (i) solicit, offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would
expect) to have the effect of causing any officer or employee of the Bank or the Company, or any of their respective subsidiaries or affiliates, to terminate his or her employment and accept employment or become affiliated with, or provide services
for compensation in any capacity whatsoever to, any business whatsoever that competes with the business of the Bank or the Company, or any of their direct or indirect subsidiaries or affiliates or has headquarters or offices within 20 miles of the
locations in which the Bank or the Company has business operations or has filed an application for regulatory approval to establish an office; 
 (ii) become an officer, employee, consultant, director, independent contractor, agent, sole proprietor, joint venturer, greater than 5% equity owner or stockholder, partner or trustee of any savings bank, savings and
loan association, savings and loan holding company, 

  

 10 

 
credit union, bank or bank holding company, insurance company or agency, any mortgage or loan broker or any other entity competing with the Bank or its
affiliates in the same geographic locations where the Bank or its affiliates has material business interests; provided, however, that this restriction shall not apply if Executive’s employment is terminated following a Change in Control or if
Executive does not have any right to or waives (or returns to the Bank) any payments under Section 4 hereof; or 
 (iii)
solicit, provide any information, advice or recommendation or take any other action intended (or that a reasonable person acting in like circumstances would expect) to have the effect of causing any customer of the Bank to terminate an existing
business or commercial relationship with the Bank. 
 (b) Executive shall, upon reasonable notice, furnish such information and assistance to
the Bank as may reasonably be required by the Bank, in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party; provided, however, that Executive shall not be required to provide information or
assistance with respect to any litigation between the Executive and the Bank or any of its subsidiaries or affiliates. 
 (c) All payments
and benefits to Executive under this Agreement shall be subject to Executive’s compliance with this Section 11. The parties hereto, recognizing that irreparable injury will result to the Bank, its business and property in the event of
Executive’s breach of this Section 11, agree that, in the event of any such breach by Executive, the Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by
Executive and all persons acting for or with Executive. Executive represents and admits that Executive’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature
than the Bank, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Bank or the Company from pursuing any other remedies available to them
for such breach or threatened breach, including the recovery of damages from Executive. 
  

	12.	SOURCE OF PAYMENTS. 

 All payments provided in this
Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company may accede to this Agreement but only for the purposed of guaranteeing payment and provision of all amounts and benefits due hereunder to Executive.

  

	13.	EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS. 

 This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or any predecessor of the Bank and Executive, except that this Agreement shall not affect or operate
to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without reference
to this Agreement. 
  

 11 

	14.	NO ATTACHMENT; BINDING ON SUCCESSORS. 

 (a) Except
as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process
or assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void, and of no effect. 
 (b) This Agreement shall be binding upon, and inure to the benefit of, Executive and the Bank and their respective successors and assigns. 
  

	15.	MODIFICATION AND WAIVER. 

 (a) This Agreement may
not be modified or amended except by an instrument in writing signed by the parties hereto. 
 (b) No term or condition of this Agreement
shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a
continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that
specifically waived. 
  

	16.	REQUIRED PROVISIONS. 

 (a) The Bank may terminate
Executive’s employment at any time, but any termination by the Board other than termination for Just Cause shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive shall have no right to
receive compensation or other benefits for any period after termination for Just Cause. 
 (b) If Executive is suspended from office and/or
temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) [12 USC §1818(e)(3)] or 8(g)(1) [12 USC §1818(g)(1)] of the Federal Deposit Insurance Act, the
Bank’s obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay Executive all or part of the
compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. 
 (c) If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) [12 USC §1818(e)(4)] or 8(g)(1) [12 USC
§1818(g)(1)] of the Federal Deposit Insurance Act, all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. 
 (d) If the Bank is in default as defined in Section 3(x)(1) [12 USC §1813(x)(1)] of the Federal Deposit Insurance Act, all obligations of the
Bank under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. 
  

 12 

 (e) All obligations under this Agreement shall be terminated, except to the extent determined that
continuation of the contract is necessary for the continued operation of the Bank, (i) by the Director of the OTS or his or her designee, at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the
authority contained in Section 13(c) [12 USC §1823(c)] of the Federal Deposit Insurance Act; or (ii) by the Director or his or her designee at the time the Director or his or her designee approves a supervisory merger to resolve
problems related to operation of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 
 (f) Notwithstanding anything herein contained to the contrary, any payments to Executive by the Bank or the Company, whether pursuant to this Agreement
or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359. 
  

	17.	SEVERABILITY. 

 If, for any reason, any provision of
this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full
extent consistent with law continue in full force and effect. 
  

	18.	HEADINGS FOR REFERENCE ONLY. 

 The headings of
sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. 
  

	19.	GOVERNING LAW. 

 This Agreement shall be governed by
the laws of the State of Indiana except to the extent superseded by federal law. 
  

	20.	ARBITRATION. 

 Any dispute or controversy arising
under or in connection with this Agreement shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a panel of three arbitrators sitting in a
location selected by Executive within fifty (50) miles from the main office of the Bank, in accordance with the rules of the American Arbitration Association’s National Rules for the Resolution of Employment Disputes (“National
Rules”) then in effect. One arbitrator shall be selected by Executive, one arbitrator shall be selected by the Bank and the third arbitrator shall be selected by the arbitrators selected by the parties. If the arbitrators are unable to agree
within fifteen (15) days upon a third arbitrator, the arbitrator shall be appointed for them from a panel of arbitrators selected in accordance with the National Rules. Judgment may be entered on the arbitrator’s award in any court having
jurisdiction. 
  

 13 

	21.	INDEMNIFICATION. 

 (a) Executive shall be provided
with coverage under a standard directors’ and officers’ liability insurance policy, and shall be indemnified for the term of this Agreement and for a period of six years thereafter to the fullest extent permitted under applicable law
against all expenses and liabilities reasonably incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer of the Bank or any affiliate (whether
or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys’ fees and the cost of reasonable
settlements (such settlements must be approved by the Board), provided, however, Executive shall not be indemnified or reimbursed for legal expenses or liabilities incurred in connection with an action, suit or proceeding arising from any illegal or
fraudulent act committed by Executive. Any such indemnification shall be made consistent with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(K), and the regulations issued thereunder in 12 C.F.R. Part 359. 

(b) Any indemnification by the Bank shall be subject to compliance with any applicable regulations of the Federal Deposit Insurance Corporation and
the Indiana Department of Financial Institutions. 
  

	22.	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:	  	 The LaPorte Savings Bank
 710 Indiana
Avenue
 LaPorte, Indiana
 Telephone: (219) 362-7511
 Fax: (219) 324-2269

		
	To Executive:	  	 Lee A. Brady
 710 Indiana Avenue
 LaPorte, Indiana
 Telephone: (219) 362-7511
 Fax: (219) 324-2269

  

 14 

 SIGNATURES 
 IN WITNESS WHEREOF, the Bank and the Company have caused this Agreement to be executed by their duly authorized representatives, and Executive has signed this Agreement, on the date first above written.

  

									
		 		 	THE LAPORTE SAVINGS BANK
				
	  	 		 	By:	 	  
	Date	 		 		 	Chairman of the Board
			
		 		 	LAPORTE BANCORP, INC.
				
	  	 		 	By:	 	  
	Date	 		 		 	Chairman of the Board
			
		 		 	EXECUTIVE:
			
	  	 		 	  
	Date	 		 	Lee A. Brady

  

 15 

 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this “Agreement”) is made effective as of ___________________ (the “Effective Date”), by and between The LaPorte Savings Bank, an Indiana chartered stock savings bank
with its principal office in LaPorte, Indiana (the “Bank”) and Michele M. Thompson (“Executive”). For purposes of this agreement, any reference to the “Company” shall mean LaPorte Bancorp, Inc., the stock holding
company of the Bank. The Company is a signatory to this Agreement for the purpose of guaranteeing the Bank’s performance hereunder. 
 WHEREAS, Executive is serving as Vice President and Chief Financial Officer of the Bank and the Bank wishes to assure itself of the services of Executive as an officer of the Bank for the period provided in this Agreement; and

 WHEREAS, in order to induce Executive to remain in the employ of the Bank and to provide further incentive for Executive to achieve
the financial and performance objectives of the Bank, the parties desire to enter into this Agreement. 
 NOW, THEREFORE, in
consideration of the mutual covenants herein contained, and upon the terms and conditions hereinafter provided, the parties hereby agree as follows: 
  

	1.	POSITION AND RESPONSIBILITIES. 

 During the term of
this Agreement, Executive shall serve as Vice President and Chief Financial Officer of the Bank. Executive shall be responsible for all the powers and duties of the offices of Vice President and Chief Financial Officer and in general shall have
overall supervision of the general and financial operations of the Bank. As Vice President, Executive shall be responsible for organizing and controlling all retail operations and internet technology of the Bank and shall collaborate with the
President and Chief Executive Officer in the overall administration of the Bank. As the Chief Financial Officer, Executive shall be responsible for overseeing all Bank accounting practices, including the accounting department, and overseeing the
preparation of the budget, financial reports, tax and audit functions. The Executive shall, when requested, perform such other duties as the Board may from time to time determine, consistent with the responsibilities of the offices of Vice President
and Chief Financial Officer. The Executive shall report directly to the Chief Executive Officer. Executive also agrees to serve, if elected, as an officer of any affiliate of the Bank. 
  

	2.	TERM AND DUTIES. 

 (a) Three Year Contract;
Annual Renewal. The term of Executive’s employment under this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement
(the “Anniversary Date”) and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is three (3) years, unless written notice of
non-renewal (a “Non-Renewal Notice”) is provided to Executive at least thirty (30) days and not more than sixty (60) days prior to such Anniversary Date, in which case the term of this Agreement shall become fixed and shall end
three (3) years 

 
following such Anniversary Date. The disinterested members of the Board of Directors (the “Board”) of the Bank will conduct a performance
evaluation and review of Executive annually for purposes of determining whether to give notice not to extend the term of this Agreement, and the results thereof shall be included in the minutes of the Board’s meeting. 
 (b) Termination of Agreement. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank may terminate
Executive’s employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. 
 (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive’s employment following the expiration of the term of this Agreement, upon such terms and
conditions as the Bank and Executive may mutually agree. 
 (d) Duties; Membership on Other Boards. During the term of this Agreement,
except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of her business time, attention, skill, and efforts to the faithful
performance of her duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, or continue to serve, on the boards of directors of, and hold any
other offices or positions in, business companies or business or civic organizations, which, in the Board’s judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive’s duties
pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer. 
  

	3.	COMPENSATION, BENEFITS AND REIMBURSEMENT. 

 (a)
Base Salary. In consideration of Executive’s performance of the duties set forth in Section 2, the Bank shall provide Executive the compensation specified in this Agreement. The Bank shall pay Executive a salary of $100,962.00 per
year (“Base Salary”). The Base Salary shall be payable biweekly, or with such other frequency as officers of the Bank are generally paid. During the term of this Agreement, the Base Salary shall be reviewed at least annually by the Board
or by a committee designated by the Board, and the Bank may increase, but not decrease (except for a decrease that is generally applicable to all employees) Executive’s Base Salary. Any increase in Base Salary shall become “Base
Salary” for purposes of this Agreement. 
 (b) Bonus and Incentive Compensation. Executive shall be entitled to equitable
participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of
other compensation to which Executive is entitled under this Agreement. 
 (c) Employee Benefits. The Bank shall provide Executive
with employee benefit plans, arrangements and perquisites substantially equivalent to those in which Executive was participating or from which she was deriving benefit immediately prior to the commencement of 

  

 2 

 
the term of this Agreement, and the Bank shall not, without Executive’s prior written consent, make any changes in such plans, arrangements or
perquisites that would adversely affect Executive’s rights or benefits thereunder, except as to any changes that are applicable to all participating employees. Without limiting the generality of the foregoing provisions of this
Section 3(c), Executive will be entitled to participate in and receive benefits under any employee benefit plans including, but not limited to, retirement plans, supplemental retirement plans, pension plans, profit-sharing plans,
health-and-accident insurance plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank and/or the Company in the future to its senior executives, including any stock benefit plans, subject to and on a
basis consistent with the terms, conditions and overall administration of such plans and arrangements. 
 (d) Paid Time Off. Executive
shall be entitled to paid vacation time each year during the term of this Agreement (measured on a fiscal or calendar year basis, in accordance with the Bank’s usual practices), as well as sick leave, holidays and other paid absences in
accordance with the Bank’s policies and procedures for senior executives. Any unused paid time off during an annual period shall be treated in accordance with the Bank’s personnel policies as in effect from time to time. 
 (e) Expense Reimbursements. During the term of this Agreement, the Bank shall pay or reimburse Executive for all reasonable travel, entertainment
and other reasonable expenses incurred by Executive during the course of performing her obligations under this Agreement, including, without limitation, fees for memberships in such clubs and organizations as Executive and the Board shall mutually
agree are necessary and appropriate in connection with the performance of her duties under this Agreement, upon presentation to the Bank of an itemized account of such expenses in such form as the Bank may reasonably require. 
  

	4.	PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. 

 (a) Upon the occurrence of an Event of Termination (as herein defined) during the term of this Agreement, the provisions of this Section 4 shall apply; provided, however, that in the event such Event of Termination occurs within 18
months or less following a Change in Control (as defined in Section 5 hereof), Section 5 shall apply instead. As used in this Agreement, an “Event of Termination” shall mean and include any one or more of the following:

 (i) the involuntary termination of Executive’s employment hereunder by the Bank for any reason other than termination
governed by Section 5 (in connection with or following a Change in Control), Section 6 (due to Disability), Section 7 (due to Retirement), or Section 8 (for Just Cause), provided that such termination constitutes a
“Separation from Service” within the meaning of Section 409A of the Internal Revenue Code (“Code”); or 
 (ii) Executive’s resignation from the Bank’s employ upon any of the following, unless consented to by Executive: 
 (A) failure to appoint Executive to the position set forth in Section 1, or a material change in Executive’s function, duties, or responsibilities, which change would cause Executive’s position to become one of lesser
responsibility, importance, or scope from the 

  

 3 

 
position and responsibilities described in Section 1, to which Executive has not agreed in writing (and any such material change shall be deemed a
continuing breach of this Agreement by the Bank); 
 (B) a relocation of Executive’s principal place of employment to a
location that is more than 20 miles from the location of the Bank’s principal executive offices as of the date of this Agreement; 
 (C) a material reduction in the benefits and perquisites, including Base Salary, to Executive from those being provided as of the Effective Date (except for any reduction that is part of a reduction in pay or benefits
that is generally applicable to officers or employees of the Bank); 
 (D) a liquidation or dissolution of the Bank; or

 (E) a material breach of this Agreement by the Bank. 
 Upon the occurrence of any event described in clause (ii) above, Executive shall have the right to elect to terminate her employment under this Agreement by resignation upon not less than 30 days prior written
notice given within a reasonable period of time (not to exceed 90 days) after the event giving rise to the right to elect, which termination by Executive shall be an Event of Termination. The Bank shall have 30 days to cure the condition giving rise
to the Event of Termination, provided, that the Bank may elect to waive said 30 day period. 
 (b) Upon the occurrence of an Event of
Termination, the Bank shall pay Executive, or, in the event of her subsequent death, her beneficiary or beneficiaries, or her estate, as the case may be, as severance pay or liquidated damages, or both, the Base Salary and bonuses that Executive
would be entitled to for the remaining unexpired term of the Agreement. For purposes of determining the bonus(es) payable hereunder, the bonus(es) will be deemed to be (i) equal to the highest bonus paid at any time during the prior three
years, and (ii) otherwise paid at such time as such bonus would have been paid absent an Event of Termination. Such payments shall be paid within 60 days of the Executive’s termination of employment and shall not be reduced in the event
Executive obtains other employment following the Event of Termination. 
 (c) Upon the occurrence of an Event of Termination, the Bank shall
pay Executive, or in the event of her subsequent death, her beneficiary or beneficiaries, or her estate, as the case may be, a lump sum cash payment reasonably estimated to be equal to the present value of the contributions that would have been made
on the Executive’s behalf under the Bank’s defined contribution plans (e.g., 401(k) Plan, ESOP, and any other defined contribution plan maintained by the Bank), as if Executive had continued working for the Bank for the remaining unexpired
term of the Agreement following such Event of Termination, earning the salary that would have been achieved during such period. The amount payable hereunder shall be paid as soon as reasonably practicable following the occurrence of the Event of
Termination but in no event shall be paid later than two and one-half months following the end of the calendar year in which the Event of Termination occurs. 
 (d) Upon the occurrence of an Event of Termination, the Bank shall provide at the Bank’s expense for the remaining unexpired term of the Agreement, nontaxable medical and 

  

 4 

 
dental coverage and life insurance coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to
the Event of Termination, except to the extent such coverage may be changed in its application to all Bank employees. 
 (e) For purposes of
this Agreement, a “Separation from Service” shall have occurred if the Bank and Executive reasonably anticipate that either no further services will be performed by the Executive after the date of the Event of Termination (whether as an
employee or as an independent contractor) or the level of further services performed will not exceed 49% of the average level of bona fide services in the 12 months immediately preceding the Event of Termination. For all purposes hereunder, the
definition of Separation from Service shall be interpreted consistent with Treasury Regulation Section 1.409A-1(h)(ii). If Executive is a Specified Employee, as defined in Code Section 409A and any payment to be made under sub-paragraph
(b) or (c) of this Section 4 shall be determined to be subject to Code Section 409A, then if required by Code Section 409A, such payment or a portion of such payment (to the minimum extent possible) shall be delayed and
shall be paid on the first day of the seventh month following Executive’s Separation from Service. 
  

	5.	CHANGE IN CONTROL. 

 (a) Any payments made to
Executive pursuant to this Section 5 are in lieu of any payments that may otherwise be owed to Executive pursuant to this Agreement under Section 4, such that Executive shall either receive payments pursuant to Section 4 or pursuant
to Section 5, but not pursuant to both Sections. 
 (b) For purposes of this Agreement, the term “Change in Control” shall
mean: 
 (i) a change in control of a nature that would be required to be reported in response to Item 5.01(a) of the
current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”); or 
 (ii) a change in control of the Bank within the meaning of the Home Owner’s Loan Act, as amended (“HOLA”), and applicable
rules and regulations promulgated thereunder, as in effect at the time of the Change in Control; or 
 (iii) any of the
following events, upon which a Change in Control shall be deemed to have occurred: 
 (A) any “person” (as the term
is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Bank or the Company representing 25% or more of
the combined voting power of such outstanding securities, except for any securities purchased by any employee stock ownership plan or trust established by the Bank or the Company; or 
 (B) individuals who constitute the Board on the Effective Date (the “Incumbent Board”) cease for any reason to constitute at
least a majority thereof, provided that 

  

 5 

 
any person becoming a director subsequent to the Effective Date whose election was approved by a vote of at least three-quarters of the directors comprising
the Incumbent Board, or whose nomination for election by stockholders of the Bank or the Company was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this subsection (B), considered as though they
were members of the Incumbent Board; or 
 (C) a sale of all or substantially all the assets of the Bank or the Company, or a
plan of reorganization, merger, consolidation, or similar transaction occurs in which the security holders of the Bank or the Company immediately prior to the consummation of the transaction do not own at least 50.1% of the securities of the
surviving entity to be outstanding upon consummation of the transaction; or 
 (D) a proxy statement is issued soliciting
proxies from stockholders of the Bank or the Company by someone other than the current management of the Bank or the Company of the Bank, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Bank or the Company,
or similar transaction with one or more corporations as a result of which the outstanding shares of the class of securities then subject to the plan are to be exchanged for or converted into cash or property or securities not issued by the Bank or
the Company; or 
 (E) a tender offer is made for 25% or more of the voting securities of the Bank or the Company, and
stockholders owning beneficially or of record 25% or more of the outstanding securities of the Bank or the Company have tendered or offered to sell their shares pursuant to such tender offer and such tendered shares have been accepted by the tender
offeror. 
 (F) Notwithstanding anything herein to the contrary, a Change in Control shall not be deemed to have occurred in
connection with the initial reorganization and conversion of the Bank to a stock Bank as the subsidiary of the Company, or upon any subsequent second-step conversion of the Company to stock form. 
 (c) Upon the occurrence of a Change in Control followed within 18 months by an Event of Termination (as defined in Section 4 hereof), Executive,
shall receive as severance pay or liquidated damages, or both, a lump sum cash payment equal to three times the sum of (i) Executive’s highest annual rate of Base Salary paid to Executive at any time under this Agreement, plus
(ii) the highest bonus paid to Executive with respect to the three completed fiscal years prior to the Change in Control. Such payment shall be made in a lump sum within 60 days of the Event of Termination. 
 (d) Upon the occurrence of a Change in Control followed within 18 months by an Event of Termination (as defined in Section 4 hereof), the Bank shall
pay Executive, or in the event of her subsequent death, her beneficiary or beneficiaries, or her estate, as the case may be, a lump sum cash payment reasonably estimated to be equal to the present value of the contributions that would have been made
on Executive’s behalf under the Bank’s defined contribution plans (e.g., 401(k) Plan, ESOP, and any other defined contribution plan maintained by the Bank), as if Executive had continued working for the Bank for thirty-six (36) months
after the effective date of such termination of employment, earning the salary that would have been achieved during such period. Such payment shall be made to Executive no later than two and 

  

 6 

 
one half months after the end of the calendar year in which the Event of Termination occurred. If Executive is a Specified Employee, as defined in Code
Section 409A and any payment to be made under this sub-paragraph (c) or (d) of this Section 5 shall be determined to be subject to Code Section 409A, then if required by Code Section 409A, such payment or a portion of
such payment (to the minimum extent possible) shall be delayed and shall be paid on the first day of the seventh month following Executive’s Separation from Service. 
 (e) Upon the occurrence of a Change in Control followed within 18 months by an Event of Termination (as defined in Section 4 hereof), the Bank (or its successor) shall provide at the Bank’s (or its
successor’s) expense, nontaxable medical and dental coverage and life insurance coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to her termination, except to the extent such
coverage may be changed in its application to all Bank employees and then the coverage provided to Executive shall be commensurate with such changed coverage. Such coverage shall cease thirty-six (36) months following the termination of
Executive’s employment. 
 (f) Notwithstanding the preceding paragraphs of this Section 5, in the event that the aggregate payments
or benefits to be made or afforded to Executive in the event of a Change in Control would be deemed to include an “excess parachute payment” under Section 280G of the Internal Revenue Code or any successor thereto, then at the
election of Executive, (i) such payments or benefits shall be payable or provided to Executive over the minimum period necessary to reduce the present value of such payments or benefits to an amount that is one dollar ($1.00) less than three
times Executive’s “base amount” under such Section 280G, or (ii) the payments or benefits to be provided under this Section 5 shall be reduced to the extent necessary to avoid treatment as an excess parachute payment,
with the allocation of the reduction among such payments and benefits to be determined by Executive. 
  

	6.	TERMINATION FOR DISABILITY OR DEATH. 

 (a)
Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable
physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and
health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the
Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. 
 (b) Executive shall be entitled to receive benefits under any short- or long-term disability plan maintained by the Bank. To the extent such benefits are
less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits and the amount of Executive’s full Base Salary for five (5) years following the termination of her
employment due to Disability, and 75% of Executive’s Base Salary thereafter until Executive reaches age 65. 
  

 7 

 (c) The Bank shall cause to be continued life insurance coverage (other than any split dollar life
insurance coverage that terminates upon termination of employment) and medical and dental coverage substantially comparable, as reasonable available, to the coverage maintained by the Bank for Executive prior to the termination of her employment
based on Disability, except to the extent such coverage may be changed in its application to all Bank employees or not available on an individual basis to an employee terminated based on Disability. This coverage shall cease upon the earlier of
(i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) Executive attaining the age of 65; or (iv) Executive’s death. 
 (d) In the event of Executive’s death during the term of this Agreement, her estate, legal representatives or named beneficiaries (as directed by
Executive in writing) shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death for a period of two (2) years from the date of Executive’s death, and the Bank shall continue to provide medical,
dental and other insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for thirty-six (36) months after Executive’s death. Such payments are in addition to any other life
insurance benefits that Executive’s beneficiaries may be entitled to receive under any employee benefit plan maintained by the Bank for the benefit of Executive, including, but not limited to, the Bank’s tax-qualified retirement plans and
The LaPorte Savings Bank Supplemental Executive Retirement Plan (SERP). 
  

	7.	TERMINATION UPON RETIREMENT. 

 Termination of
Executive’s employment based on “Retirement” shall mean termination of Executive’s employment at any time after Executive reaches age 65 or in accordance with any retirement policy established by the Board with Executive’s
consent with respect to her. Upon termination of Executive based on Retirement, no amounts or benefits shall be due Executive under this Agreement, and Executive shall be entitled to all benefits under any retirement plan of the Bank and other plans
to which Executive is a party. 
  

	8.	TERMINATION FOR JUST CAUSE. 

 (a) The Bank may
terminate Executive’s employment at any time, but any termination other than termination for “Just Cause,” as defined herein, shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive
shall have no right to receive compensation or other benefits for any period after termination for “Just Cause.” The phrase “Just Cause” as used herein, shall exist when there has been a good faith determination by the Board that
there shall have occurred one or more of the following events with respect to the Executive: (i) the conviction of the Executive of a felony or of any lesser criminal offense involving moral turpitude; (ii) the willful commission by the
Executive of a criminal or other act that, in the judgment of the Board will likely cause substantial economic damage to the Company or the Bank or substantial injury to the business reputation of the Company or the Bank; (iii) the commission
by the Executive of an act of fraud in the performance of her duties on behalf of the Company or the Bank; (iv) the continuing willful 

  

 8 

 
failure of the Executive to perform her duties to the Company or the Bank (other than any such failure resulting from the Executive’s incapacity due to
physical or mental illness) after written notice thereof (specifying the particulars thereof in reasonable detail) and a reasonable opportunity to be heard and cure such failure are given to the Executive by the Board; or (v) an order of a
federal or state regulatory agency or a court of competent jurisdiction requiring the termination of the Executive’s employment by the Company. Notwithstanding the foregoing, Just Cause shall not be deemed to exist unless there shall have been
delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting of the Board called and held for the purpose (after reasonable notice to the
Executive and an opportunity for the Executive to be heard before the Board), finding that in the good faith opinion of the Board the Executive was guilty of conduct described above and specifying the particulars thereof. Prior to holding a meeting
at which the Board is to make a final determination whether Just Cause exists, if the Board determines in good faith at a meeting of the Board, by not less than a majority of its entire membership, that there is probable cause for it to find that
the Executive was guilty of conduct constituting Just Cause as described above, the Board may suspend the Executive from her duties hereunder for a reasonable period of time not to exceed fourteen (14) days pending a further meeting at which
the Executive shall be given the opportunity to be heard before the Board. Upon a finding of Just Cause, the Board shall deliver to the Executive a Notice of Termination, as more fully described in Section 9 below. 
 (b) For purposes of this Section 8, no act or failure to act, on the part of Executive, shall be considered “willful” unless it is done,
or omitted to be done, by Executive in bad faith or without reasonable belief that Executive’s action or omission was in the best interests of the Bank. Any act, or failure to act, based upon the direction of the Board or based upon the advice
of counsel for the Bank shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Bank. 
  

	9.	NOTICE. 

 (a) Any purported termination by the Bank
for Just Cause shall be communicated by Notice of Termination to Executive. If, within thirty (30) days after any Notice of Termination for Just Cause is given, Executive notifies the Bank that a dispute exists concerning the termination, the
parties shall promptly proceed to arbitration, as provided in Section 19. Notwithstanding the pendency of any such dispute, the Bank shall discontinue paying Executive’s compensation until the dispute is finally resolved in accordance with
this Agreement. If it is determined that Executive is entitled to compensation and benefits under Section 4 or 5, the payment of such compensation and benefits by the Bank shall commence immediately following the date of resolution by
arbitration, with interest due Executive on the cash amount that would have been paid pending arbitration (at the prime rate as published in The Wall Street Journal from time to time). 
 (b) Any other purported termination by the Bank or by Executive shall be communicated by a “Notice of Termination” (as defined in
Section 9(c)) to the other party. If, within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, the parties
shall promptly proceed to arbitration as provided in Section 19. Notwithstanding the 

  

 9 

 
pendency of any such dispute, the Bank shall continue to pay Executive her Base Salary, and other compensation and benefits in effect when the notice giving
rise to the dispute was given (except as to termination of Executive for Just Cause); provided, however, that such payments and benefits shall not continue beyond the date that is 36 months from the date the Notice of Termination is given. In the
event the voluntary termination by Executive of her employment is disputed by the Bank, and if it is determined in arbitration that Executive is not entitled to termination benefits pursuant to this Agreement, she shall return all cash payments made
to her pending resolution by arbitration, with interest thereon at the prime rate as published in The Wall Street Journal from time to time, if it is determined in arbitration that Executive’s voluntary termination of employment was not
taken in good faith and not in the reasonable belief that grounds existed for her voluntary termination. If it is determined that Executive is entitled to receive severance benefits under this Agreement, then any continuation of Base Salary and
other compensation and benefits made to Executive under this Section 9 shall offset the amount of any severance benefits that are due to Executive under this Agreement. 
 (c) For purposes of this Agreement, a “Notice of Termination” shall mean a written notice that shall indicate the specific termination
provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. 
  

	10.	POST-TERMINATION OBLIGATIONS. 

 (a) Executive hereby
covenants and agrees that, for a period of one year following her termination of employment with the Bank, she shall not, without the written consent of the Bank, either directly or indirectly: 
 (i) solicit, offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would
expect) to have the effect of causing any officer or employee of the Bank or the Company, or any of their respective subsidiaries or affiliates, to terminate her employment and accept employment or become affiliated with, or provide services for
compensation in any capacity whatsoever to, any business whatsoever that competes with the business of the Bank or the Company, or any of their direct or indirect subsidiaries or affiliates or has headquarters or offices within 20 miles of the
locations in which the Bank or the Company has business operations or has filed an application for regulatory approval to establish an office; 
 (ii) become an officer, employee, consultant, director, independent contractor, agent, sole proprietor, joint venturer, greater than 5% equity owner or stockholder, partner or trustee of any savings bank, savings and
loan association, savings and loan holding company, credit union, bank or bank holding company, insurance company or agency, any mortgage or loan broker or any other entity competing with the Bank or its affiliates in the same geographic locations
where the Bank or its affiliates has material business interests; provided, however, that this restriction shall not apply if Executive’s employment is terminated following a Change in Control or if Executive does not have any right to or
waives (or returns to the Bank) any payments under Section 4 hereof; or 
 (iii) solicit, provide any information, advice
or recommendation or take any other action intended (or that a reasonable person acting in like circumstances would expect) to have the effect of causing any customer of the Bank to terminate an existing business or commercial relationship with the
Bank. 
  

 10 

 (b) Executive shall, upon reasonable notice, furnish such information and assistance to the Bank as may
reasonably be required by the Bank, in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party; provided, however, that Executive shall not be required to provide information or assistance with
respect to any litigation between the Executive and the Bank or any of its subsidiaries or affiliates. 
 (c) All payments and benefits to
Executive under this Agreement shall be subject to Executive’s compliance with this Section 10. The parties hereto, recognizing that irreparable injury will result to the Bank, its business and property in the event of Executive’s
breach of this Section 10, agree that, in the event of any such breach by Executive, the Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive and all
persons acting for or with Executive. Executive represents and admits that Executive’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Bank,
and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Bank or the Company from pursuing any other remedies available to them for such
breach or threatened breach, including the recovery of damages from Executive. 
  

	11.	SOURCE OF PAYMENTS. 

 All payments provided in this
Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company may accede to this Agreement but only for the purposed of guaranteeing payment and provision of all amounts and benefits due hereunder to Executive.

  

	12.	EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS. 

 This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or any predecessor of the Bank and Executive, except that this Agreement shall not affect or operate
to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to her without reference
to this Agreement. 
  

	13.	NO ATTACHMENT; BINDING ON SUCCESSORS. 

 (a) Except
as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process
or assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void, and of no effect. 
  

 11 

 (b) This Agreement shall be binding upon, and inure to the benefit of, Executive and the Bank and their
respective successors and assigns. 
  

	14.	MODIFICATION AND WAIVER. 

 (a) This Agreement may
not be modified or amended except by an instrument in writing signed by the parties hereto. 
 (b) No term or condition of this Agreement
shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a
continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that
specifically waived. 
  

	15.	REQUIRED PROVISIONS. 

 (a) The Bank may terminate
Executive’s employment at any time, but any termination by the Board other than termination for Just Cause shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive shall have no right to
receive compensation or other benefits for any period after termination for Just Cause. 
 (b) If Executive is suspended from office and/or
temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) [12 USC §1818(e)(3)] or 8(g)(1) [12 USC §1818(g)(1)] of the Federal Deposit Insurance Act, the
Bank’s obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay Executive all or part of the
compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. 
 (c) If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) [12 USC §1818(e)(4)] or 8(g)(1) [12 USC
§1818(g)(1)] of the Federal Deposit Insurance Act, all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. 
 (d) If the Bank is in default as defined in Section 3(x)(1) [12 USC §1813(x)(1)] of the Federal Deposit Insurance Act, all obligations of the
Bank under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. 
 (e) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the contract is necessary for the continued operation of the Bank, (i) by the Director of the OTS
or his or her designee, at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) [12 USC §1823(c)] of the Federal Deposit Insurance Act; or (ii) by
the Director or his or her designee at the time the Director or his or her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound
condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 
  

 12 

 (f) Notwithstanding anything herein contained to the contrary, any payments to Executive by the Bank or
the Company, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated
thereunder in 12 C.F.R. Part 359. 
  

	16.	SEVERABILITY. 

 If, for any reason, any provision of
this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full
extent consistent with law continue in full force and effect. 
  

	17.	HEADINGS FOR REFERENCE ONLY. 

 The headings of
sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. 
  

	18.	GOVERNING LAW. 

 This Agreement shall be governed by
the laws of the State of Indiana except to the extent superseded by federal law. 
  

	19.	ARBITRATION. 

 Any dispute or controversy arising
under or in connection with this Agreement shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a panel of three arbitrators sitting in a
location selected by Executive within fifty (50) miles from the main office of the Bank, in accordance with the rules of the American Arbitration Association’s National Rules for the Resolution of Employment Disputes (“National
Rules”) then in effect. One arbitrator shall be selected by Executive, one arbitrator shall be selected by the Bank and the third arbitrator shall be selected by the arbitrators selected by the parties. If the arbitrators are unable to agree
within fifteen (15) days upon a third arbitrator, the arbitrator shall be appointed for them from a panel of arbitrators selected in accordance with the National Rules. Judgment may be entered on the arbitrator’s award in any court having
jurisdiction. 
  

	20.	INDEMNIFICATION. 

 (a) Executive shall be provided
with coverage under a standard directors’ and officers’ liability insurance policy, and shall be indemnified for the term of this Agreement and for a period of six years thereafter to the fullest extent permitted under applicable law
against all expenses and liabilities reasonably incurred by her in connection with or arising out of any 

  

 13 

 
action, suit or proceeding in which she may be involved by reason of her having been a director or officer of the Bank or any affiliate (whether or not she
continues to be an officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys’ fees and the cost of reasonable settlements (such
settlements must be approved by the Board), provided, however, Executive shall not be indemnified or reimbursed for legal expenses or liabilities incurred in connection with an action, suit or proceeding arising from any illegal or fraudulent act
committed by Executive. Any such indemnification shall be made consistent with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(K), and the regulations issued thereunder in 12 C.F.R. Part 359. 
 (b) Any indemnification by the Bank shall be subject to compliance with any applicable regulations of the Federal Deposit Insurance Corporation and the
Indiana Department of Financial Institutions. 
  

	21.	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:	  	 The LaPorte Savings Bank
 710 Indiana
Avenue
 LaPorte, Indiana
 Telephone: (219) 362-7511
 Fax: (219) 324-2269

		
	To Executive:	  	 Michele M. Thompson
 710 Indiana Avenue
 LaPorte, Indiana
 Telephone: (219) 362-7511
 Fax: (219) 324-2269

  

 14 

 SIGNATURES 
 IN WITNESS WHEREOF, the Bank and the Company have caused this Agreement to be executed by their duly authorized representatives, and Executive has signed this Agreement, on the date first above written.

  

									
		 		 	THE LAPORTE SAVINGS BANK
				
	  	 		 	By:	 	  
	Date	 		 		 	Chairman of the Board
			
		 		 	LAPORTE BANCORP, INC.
				
	  	 		 	By:	 	  
	Date	 		 		 	Chairman of the Board
			
		 		 	EXECUTIVE:
			
	  	 		 	  
	Date	 		 	Michele M. Thompson

  

 15

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