Document:

exh101.htm

     

    
      

      

    

    EXHIBIT 10.1

     

    
      HOME
FEDERAL BANCORP, INC. OF LOUISIANA

      AMENDED
AND RESTATED 2005 STOCK OPTION PLAN

       

      ARTICLE
I

      ESTABLISHMENT
OF THE PLAN

       

      Home
Federal Bancorp, Inc. of Louisiana (the “Corporation”), hereby amends and
restates its 2005 Stock Option Plan (as amended and restated, the “Plan”) upon
the terms and conditions hereinafter stated, with the amendment and restatement
effective as of November 12, 2008.

       

      ARTICLE
II

      PURPOSE
OF THE PLAN

       

      The
purpose of this Plan is to improve the growth and profitability of the
Corporation and its Subsidiary Companies by providing Employees and Non-Employee
Directors with a proprietary interest in the Corporation as an incentive to
contribute to the success of the Corporation and its Subsidiary Companies, and
rewarding Employees and Non-Employee Directors for outstanding
performance.  All Incentive Stock Options issued under this Plan are
intended to comply with the requirements of Section 422 of the Code and the
regulations thereunder, and all provisions hereunder shall be read, interpreted
and applied with that purpose in mind.  Each recipient of an Option
hereunder is advised to consult with his or her personal tax advisor with
respect to the tax consequences under federal, state, local and other tax laws
of the receipt and/or exercise of an Option hereunder.

       

      ARTICLE
III

      DEFINITIONS

       

      The
following words and phrases when used in this Plan with an initial capital
letter, unless the context clearly indicates otherwise, shall have the meanings
set forth below.  Wherever appropriate, the masculine pronouns shall
include the feminine pronouns and the singular shall include the
plural.

       

      3.01           “Advisory
Director” means a person appointed to serve as an advisory or emeritus director
by the Board of either the Corporation or the Bank or the successors
thereto.

       

      3.02           “Bank”
means Home Federal Savings and Loan Association, the wholly owned subsidiary of
the Corporation.

       

      3.03           “Beneficiary”
means the person or persons designated by an Optionee to receive any benefits
payable under the Plan in the event of such Optionee’s death.  Such
person or persons shall be designated in writing on forms provided for this
purpose by the Committee and may be changed from time to time by similar written
notice to the Committee.  In the absence of a written designation, the
Beneficiary shall be the Optionee’s surviving spouse, if any, or if none, his or
her estate.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      3.04           “Board”
means the Board of Directors of the Corporation.

       

      3.05           “Change
in Control” shall mean a change in the ownership of the Corporation or the Bank,
a change in the effective control of the Corporation or the Bank or a change in
the ownership of a substantial portion of the assets of the Corporation or the
Bank, in each case as provided under Section 409A of the Code and the
regulations thereunder.

       

      3.06           “Code”
means the Internal Revenue Code of 1986, as amended.

       

      3.07           “Committee”
means a committee of two or more directors appointed by the Board pursuant to
Article IV hereof, each of whom shall be a Non-Employee Director (i) as defined
in Rule 16b-3(b)(3)(i) of the Exchange Act or any successor thereto, (ii) within
the meaning of Section 162(m) of the Code or any successor thereto and (iii) who
is independent as defined by the Marketplace Rules of the Nasdaq Stock
Market.

       

      3.08           “Common
Stock” means shares of the common stock, $0.01 par value per share, of the
Corporation.

       

      3.09           “Director”
means a member of the Board of Directors of the Corporation or a Subsidiary
Company or any successors thereto, including Non-Employee Directors as well as
Officers and Employees serving as Directors.

       

      3.10           “Disability”
means in
the case of any Optionee that the Optionee: (i) is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to
last for a continuous period of not less than 12 months, or (ii) is, by reason
of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period
of not less than 12 months, receiving income replacement benefits for a period
of not less than three months under an accident and health plan covering
employees of the Corporation or the Bank (or would have received such benefits
for at least three months if he had been eligible to participate in such
plan).

       

      3.11           “Effective
Date” means the date upon which the Board originally adopted this
Plan.

       

      3.12           “Employee”
means any person who is employed by the Corporation or a Subsidiary Company, or
is an Officer of the Corporation or a Subsidiary Company, but not including
directors who are not also Officers of or otherwise employed by the Corporation
or a Subsidiary Company.

       

      3.13           “Employer
Group” means the Corporation and any Subsidiary Company which, with the consent
of the Board, agrees to participate in the Plan.

       

      3.14           “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

       

      3.15           “Exercise
Price” means the price at which a share of Common Stock may be purchased by an
Optionee pursuant to an Option.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      3.16           “Fair
Market Value” shall be equal to the fair market value per share of the
Corporation’s Common Stock on the date an Option is granted.  For
purposes hereof, the Fair Market Value of a share of Common Stock shall be the
closing sale price of a share of Common Stock on the date in question (or, if
such day is not a trading day in the U.S. markets, on the nearest preceding
trading day), as reported with respect to the principal market (or the composite
of the markets, if more than one) or national quotation system in which such
shares are then traded, or if no such closing prices are reported, the mean
between the high bid and low asked prices that day on the principal market or
national quotation system then in use.  Notwithstanding
the foregoing, if the Common
Stock is not readily tradable on an established securities market for purposes
of Section 409A of the Code, then the Fair Market Value shall be determined by
means of a reasonable valuation method that takes into consideration all
available information material to the value of the Corporation and that
otherwise satisfies the requirements applicable under Section 409A of the
Code and the
regulations thereunder.

       

      3.17           “Incentive
Stock Option” means any Option granted under this Plan which the Board intends
(at the time it is granted) to be an incentive stock option within the meaning
of Section 422 of the Code or any successor thereto.

       

      3.18           “Non-Employee
Director” means a member of the Board (including advisory boards, if any) of the
Corporation or any Subsidiary Company or any successor thereto, including an
Advisory Director of the Board of the Corporation and/or any Subsidiary Company,
or a former Officer or Employee of the Corporation and/or any Subsidiary Company
serving as a Director or Advisory Director, who is not an Officer or Employee of
the Corporation or any Subsidiary Company.

       

      3.19           “Non-Qualified
Option” means any Option granted under this Plan which is not an Incentive Stock
Option.

       

      3.20           “Offering”
means the offering of Common Stock to the public completed in 2005 in connection
with the mutual holding company (the “MHC”) reorganization of the Bank and the
issuance of the capital stock of the Bank to the
Corporation.

       

      3.21           “Officer”
means an Employee whose position in the Corporation or Subsidiary Company is
that of a corporate officer, as determined by the Board.

       

      3.22           “Option”
means a right granted under this Plan to purchase Common
Stock.

       

      3.23           “Optionee”
means an Employee or Non-Employee Director or former Employee or Non-Employee
Director to whom an Option is granted under the Plan.

       

      3.24           “OTS”
means the Office of Thrift Supervision.

       

      3.25           “Retirement”
means:

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      (a)  A
termination of employment which constitutes a “retirement” at the “normal
retirement age” or later under the Home Federal Savings and Loan Association
401(k) Plan or such other qualified pension benefit plan maintained by the
Corporation or a Subsidiary Company as may be designated by the Board or the
Committee, or, if no such plan is applicable, which would constitute
“retirement” under the Home Federal Savings and Loan Association Bank 401(k)
Plan, if such individual were a participant in that plan, provided, however,
that the provisions of this subsection (a) will not apply as long as an Optionee
continues to serve as a Non-Employee Director, including service as an Advisory
Director.

       

      (b)  With
respect to Non-Employee Directors, retirement means retirement from service on
the Board of Directors of the Corporation or a Subsidiary Company or any
successors thereto (including service as an Advisory Director to the Corporation
or any Subsidiary Company) after reaching normal retirement age as established
by the Company.

       

      3.26           “Stock
Option Agreement” means the written agreement setting forth the number of shares
subject to the Option, the exercise price thereof, designating the Option as an
Incentive Stock Option or a Non-Qualified Option and such other terms of the
Option as the Committee shall deem appropriate.

       

      3.27           “Subsidiary
Companies” means those subsidiaries of the Corporation, including the Bank,
which meet the definition of “subsidiary corporations” set forth in Section
424(f) of the Code, at the time of granting of the Option in
question.

       

      ARTICLE
IV

      ADMINISTRATION
OF THE PLAN

       

      4.01           Duties
of the Committee.  The Plan shall be administered and
interpreted by the Committee, as appointed from time to time by the Board
pursuant to Section 4.02.  The Committee shall have the authority to
adopt, amend and rescind such rules, regulations and procedures as, in its
opinion, may be advisable in the administration of the Plan, including, without
limitation, rules, regulations and procedures which (i) address matters
regarding the satisfaction of an Optionee’s tax withholding obligation pursuant
to Section 12.02 hereof, (ii) to the extent permissible by applicable law and
regulation, include arrangements to facilitate the Optionee’s ability to borrow
funds for payment of the exercise or purchase price of an Option, if applicable,
from securities brokers and dealers, and (iii) subject to any legal or
regulatory restrictions or limitations,  include arrangements which
provide for the payment of some or all of such exercise or purchase price by
delivery of previously owned shares of Common Stock or other property and/or by
withholding some of the shares of Common Stock which are being
acquired.  The interpretation and construction by the Committee of any
provisions of the Plan, any rule, regulation or procedure adopted by it pursuant
thereto or of any Option shall be final and binding in the absence of action by
the Board.

       

      4.02           Appointment
and Operation of the Committee.  The members of the Committee
shall be appointed by, and will serve at the pleasure of, the
Board.  The Board from time to time may remove members from, or add
members to, the Committee, provided the Committee shall continue to consist of
two or more members of the Board, each of whom shall be a Non-Employee Director,
as defined in Rule 16b-3(b)(3)(i) of the Exchange Act or any successor
thereto.  In addition, each member of the Committee shall be an (i)
“outside director” within the meaning of Section 162(m) of the Code and
regulations thereunder at such times as is required under such regulations and
(ii) an “independent director” as such term is defined in Rule 4200(a)(15) of
the Marketplace Rules of the Nasdaq Stock Market.  The Committee shall
act by vote or written consent of a majority of its members.  Subject
to the express provisions and limitations of the Plan, the Committee may adopt
such rules, regulations and procedures as it deems appropriate for the conduct
of its affairs.  It may appoint one of its members to be chairman and
any person, whether or not a member, to be its secretary or
agent.  The Committee shall report its actions and decisions to the
Board at appropriate times but in no event less than one time per calendar
year.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      4.03           Revocation
for Misconduct.  The Board or the Committee may by resolution
immediately revoke, rescind and terminate any Option, or portion thereof, to the
extent not yet vested, previously granted or awarded under this Plan to an
Employee who is discharged from the employ of the Corporation or a Subsidiary
Company for cause, which, for purposes hereof, shall mean termination because of
the Employee’s personal dishonesty, incompetence, willful misconduct, breach of
fiduciary duty involving personal profit, intentional failure to perform stated
duties, willful violation of any law, rule, or regulation (other than traffic
violations or similar offenses) or final cease-and-desist
order.  Options granted to a Non-Employee Director who is removed for
cause pursuant to the Corporation’s Articles of Incorporation or Bylaws or the
Bank’s Charter and Bylaws or the constituent documents of such other Subsidiary
Company on whose board he serves shall terminate as of the effective date of
such removal.

       

      4.04           Limitation
on Liability.  Neither the members of the Board nor any member
of the Committee shall be liable for any action or determination made in good
faith with respect to the Plan, any rule, regulation or procedure adopted by it
pursuant thereto or any Options granted under it.  If a member of the
Board or the Committee is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of anything done or not
done by him in such capacity under or with respect to the Plan, the Corporation
shall, subject to the requirements of applicable laws and regulations, indemnify
such member against all liabilities and expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred
by him in connection with such action, suit or proceeding if he acted in good
faith and in a manner he reasonably believed to be in the best interests of the
Corporation and its Subsidiary Companies and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his conduct was
unlawful.

       

      4.05           Compliance
with Laws and Regulations.  All Options granted hereunder shall
be subject to all applicable federal and state laws, rules and regulations and
to such approvals by any government or regulatory agency as may be
required.  The Corporation shall not be required to issue or deliver
any certificates for shares of Common Stock prior to the completion of any
registration or qualification of or obtaining of consents or approvals with
respect to such shares under any federal or state law or any rule or regulation
of any government body, which the Corporation shall, in its sole discretion,
determine to be necessary or advisable.  Moreover, no Option may be
exercised if such exercise would be contrary to applicable laws and
regulations.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      4.06           Restrictions
on Transfer.  The Corporation may place a legend upon any
certificate representing shares acquired pursuant to an Option granted hereunder
noting that the transfer of such shares may be restricted by applicable laws and
regulations.

       

      4.07           No Deferral of Compensation Under Section
409A of the Code.  All
Options granted under this Plan are designed to
not constitute a deferral of compensation for purposes of Section 409A of the
Code.  Notwithstanding any other provision in this Plan to the
contrary, all of the terms and conditions of any Options granted under this Plan
shall be designed to satisfy the exemption for stock options set forth in the
regulations issued under Section 409A of the Code.  Both this Plan and
the terms of all Options granted hereunder shall be interpreted in a manner that
requires compliance with all of the requirements of the exemption for stock
options set forth in the regulations issued under Section 409A of the
Code.  No Optionee shall be permitted to defer the recognition of
income beyond the exercise date of a Non-Qualified Option or beyond the date
that the Common Stock received upon the exercise of an Incentive Stock Option is
sold.

       

      ARTICLE
V

      ELIGIBILITY

       

      Options
may be granted to such Employees or Non-Employee Directors of the Corporation
and its Subsidiary Companies as may be designated from time to time by the Board
or the Committee.  Options may not be granted to individuals who are
not Employees or Non-Employee Directors of either the Corporation or its
Subsidiary Companies.  Non-Employee Directors shall be eligible to
receive only Non-Qualified Options.

       

      ARTICLE
VI

      COMMON
STOCK COVERED BY THE PLAN

       

      6.01           Option
Shares.  The aggregate number of shares of Common Stock which
may be issued pursuant to this Plan, subject to adjustment as provided in
Article IX, shall be 174,389.  None of such shares shall be the
subject of more than one Option at any time, but if an Option as to any shares
is surrendered before exercise, or expires or terminates for any reason without
having been exercised in full, or for any other reason ceases to be exercisable,
the number of shares covered thereby shall again become available for grant
under the Plan as if no Options had been previously granted with respect to such
shares.  During the time this Plan remains in effect, the aggregate
grants of Options to each Employee and each Non-Employee Director shall not
exceed 25% and 5% of the shares of Common Stock initially available under the
Plan, respectively.  Options granted to
Non-Employee  Directors in the aggregate may not exceed 30% of the
number of shares initially available under this Plan.

       

      6.02           Source
of Shares.  The shares of Common Stock issued under the Plan
may be authorized but unissued shares, treasury shares or shares purchased by
the Corporation on the open market or from private sources for use under the
Plan.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      ARTICLE
VII

      DETERMINATION
OF

      OPTIONS,
NUMBER OF SHARES, ETC.

       

      The Board
or the Committee shall, in its discretion, determine from time to time which
Employees or Non-Employee Directors will be granted Options under the Plan, the
number of shares of Common Stock subject to each Option, and whether each Option
will be an Incentive Stock Option or a Non-Qualified Stock Option.  In
making all such determinations there shall be taken into account the duties,
responsibilities and performance of each respective Employee and Non-Employee
Director, his or her present and potential contributions to the growth and
success of the Corporation, his or her salary or other compensation and such
other factors as the Board or the Committee shall deem relevant to accomplishing
the purposes of the Plan.  The Board or the Committee may but shall
not be required to request the written recommendation of the Chief Executive
Officer of the Corporation other than with respect to Options to be granted to
him or her.

       

      ARTICLE
VIII

      OPTIONS

       

      Each
Option granted hereunder shall be on the following terms and
conditions:

       

      
             8.01        Stock Option
Agreement.  The proper Officers on behalf of the
Corporation and each Optionee shall execute a Stock Option Agreement which shall
set forth the total number of shares of Common Stock to which it pertains, the
exercise price, whether it is a Non-Qualified Option or an Incentive Stock
Option, and such other terms, conditions, restrictions and privileges as the
Board or the Committee in each instance shall deem appropriate, provided they
are not inconsistent with the terms, conditions and provisions of this
Plan.  Each Optionee shall receive a copy of his executed Stock Option
Agreement.  Any Option granted with the intention that it will be an
Incentive Stock Option but which fails to satisfy a requirement for Incentive
Stock Options shall continue to be valid and shall be treated as a Non-Qualified
Option.

      

       

      8.02        Option
Exercise Price.

       

      (a)           Incentive
Stock Options.  The per share price at which the subject Common
Stock may be purchased upon exercise of an Incentive Stock Option shall be no
less than one hundred percent (100%) of the Fair Market Value of a share of
Common Stock at the time such Incentive Stock Option is granted, except as
provided in Section 8.09(b).

       

      (b)           Non-Qualified
Options.  The per share price at which the subject Common Stock
may be purchased upon exercise of a Non-Qualified Option shall be no less than
one hundred percent (100%) of the Fair Market Value of a share of Common Stock
at the time such Non-Qualified Option is granted.

       

      8.03        Vesting
and Exercise of Options.

       

      (a)           General
Rules.  Incentive Stock Options and Non-Qualified Options shall
become vested and exercisable at a rate no more rapid than 20% per year,
commencing one year from the date of grant as shall be determined by the
Committee and the right to exercise shall be
cumulative.  Notwithstanding the foregoing, except as provided in
Section 8.03(b) hereof, no vesting shall occur on or after an Employee’s
employment and/or service as a Non-Employee Director (which, for purposes
hereof, shall include service as an Advisory Director) with the Corporation or
any of the Subsidiary Companies is terminated.  In determining the
number of shares of Common Stock with respect to which Options are vested and/or
exercisable, fractional shares will be rounded down to the nearest whole number,
provided that such fractional shares shall be aggregated and deemed vested on
the final date of vesting.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      (b)           Accelerated
Vesting.  Unless the Board or the Committee shall specifically
state otherwise at the time an Option is granted, all Options granted under this
Plan shall become vested and exercisable in full on the date an Optionee
terminates his employment with the Corporation or a Subsidiary Company or
service as a Non-Employee Director (including for purposes hereof service as an
Advisory Director) because of his death or Disability (provided, however, no
such accelerated vesting shall occur if an Optionee remains employed by or
continues to serve as a Director (including for purposes hereof service as an
Advisory Director) of at least one member of the Employer
Group).  Furthermore, notwithstanding the general rule contained in
Section 8.03(a), all Options granted under this Plan shall become vested and
exercisable in full as of the effective date of a Change in
Control.

       

      8.04        Duration
of Options.

       

      (a)           General
Rule.  Except as provided in Sections 8.04(b) and 8.09, each
Option or portion thereof granted to Employees and Non-Employee Directors shall
be exercisable at any time on or after it vests and becomes exercisable until
the earlier of (i) ten (10) years after its date of grant or (ii) six (6) months
after the date on which the Optionee ceases to be employed (or in the service of
the Board of Directors) by the Corporation and all Subsidiary Companies, unless
the Board of Directors or the Committee in its discretion decides at the time of
grant to extend such period of exercise to a period not exceeding three (3)
years.  In the event an Incentive Stock Option is not exercised within
90 days of the effective date of termination of the Optionee’s status as an
Employee, the tax treatment accorded Incentive Stock Options by the Code may not
be available.  In addition, the accelerated vesting of Incentive Stock
Options provided by Section 8.03(b) may result in all or a portion of such
Incentive Stock Options no longer qualifying as Incentive Stock
Options.  Notwithstanding anything herein to the contrary, all
executive officers and directors of the Corporation must either exercise or
forfeit any Options granted hereunder in the event that the Bank becomes
critically undercapitalized (as defined in 12 C.F.R. § 565.4 or any successor
thereto), is subject to OTS enforcement action or receives a capital directive
from the OTS under 12 C.F.R. § 565.7.

       

      (b)           Exception
for Termination Due to Disability, Retirement, Change in Control or
Death.  Unless the Board or the Committee shall specifically
state otherwise at the time an Option is granted: (i) if an Employee terminates
his employment with the Corporation or a Subsidiary Company as a result of
Disability or Retirement without having fully exercised his Options, the
Employee shall have the right, during the three (3) year period following his
termination due to Disability or Retirement, to exercise such Options, and (ii)
if a Non-Employee Director terminates his service as a director (including
service as an Advisory Director) with the Corporation or a Subsidiary Company as
a result of Disability or Retirement without having fully exercised his Options,
the Non-Employee Director shall have the right, during the three (3) year period
following his termination due to Disability or Retirement, to exercise such
Options.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      Subject
to the provisions of Article IX hereof, unless the Board or the Committee shall
specifically state otherwise at the time an Option is granted, if an Employee or
Non-Employee Director terminates his employment or service with the Corporation
or a Subsidiary Company following a Change in Control without having fully
exercised his Options, the Optionee shall have the right to exercise such
Options during the remainder of the original ten (10) year term (or five (5)
year term for Options subject to Section 8.09(b) hereof) of the Option from the
date of grant.

       

      If an
Optionee dies while in the employ or service of the Corporation or a Subsidiary
Company or terminates employment or service with the Corporation or a Subsidiary
Company as a result of Disability or Retirement and dies without having fully
exercised his Options, the executors, administrators, legatees or distributees
of his estate shall have the right, during the one (1) year period following his
death, to exercise such Options.

       

      In no
event, however, shall any Option be exercisable more than ten (10) years (five
(5) years for Options subject to Section 8.09(b) hereof) from the date it was
granted.

       

      8.05           Nonassignability.  Options
shall not be transferable by an Optionee except by will or the laws of descent
or distribution, and during an Optionee’s lifetime shall be exercisable only by
such Optionee or the Optionee’s guardian or legal
representative.  Notwithstanding the foregoing, or any other provision
of this Plan, an Optionee who holds Non-Qualified Options may transfer such
Options to his immediate family or to a duly established trust for the benefit
of one or more of these individuals.   For purposes hereof,
“immediate family” includes but is not necessarily limited to the Participant’s
spouse, children (including step children), parents, grandchildren and great
grandchildren.  Options so transferred may thereafter be transferred
only to the Optionee who originally received the grant or to an individual or
trust to whom the Optionee could have initially transferred the Option pursuant
to this Section 8.05.  Options which are transferred pursuant to this
Section 8.05 shall be exercisable by the transferee according to the same terms
and conditions as applied to the Optionee.

       

      8.06           Manner
of Exercise.  Options may be exercised in part or in whole and
at one time or from time to time.  The procedures for exercise shall
be set forth in the written Stock Option Agreement provided for in Section 8.01
above.

       

      8.07           Payment
for Shares.  Payment in full of the purchase price for shares
of Common Stock purchased pursuant to the exercise of any Option shall be made
to the Corporation upon exercise of the Option.  All shares sold under
the Plan shall be fully paid and nonassessable.  Payment for shares
may be made by the Optionee (i) in cash or by check, (ii) by delivery of a
properly executed exercise notice, together with irrevocable instructions to a
broker to sell the shares and then to properly deliver to the Corporation the
amount of sale proceeds to pay the exercise price, all in accordance with
applicable laws and regulations, or (iii) at the discretion of the Board or the
Committee, by delivering shares of Common Stock (including shares acquired
pursuant to the previous exercise of an Option) equal in fair market value to
the purchase price of the shares to be acquired pursuant to the Option, by
withholding some of the shares of Common Stock which are being purchased upon
exercise of an Option, or any combination of the foregoing.  With
respect to subclause (iii) hereof, the shares of Common Stock delivered to pay
the purchase price must have either been (x) purchased in open market
transactions or (y) issued by the Corporation pursuant to a plan thereof more
than six months prior to the exercise date of the Option.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      8.08           Voting
and Dividend Rights.  No Optionee shall have any voting or
dividend rights or other rights of a shareholder in respect of any shares of
Common Stock covered by an Option prior to the time that his name is recorded on
the Corporation’s shareholder ledger as the holder of record of such shares
acquired pursuant to an exercise of an Option.

       

      8.09           Additional
Terms Applicable to Incentive Stock Options.  All Options
issued under the Plan which are designated as Incentive Stock Options will be
subject, in addition to the terms detailed in Sections 8.01 to 8.08 above, to
those contained in this Section 8.09.

       

      (a)           Amount
Limitation.  Notwithstanding any contrary provisions contained
elsewhere in this Plan and as long as required by Section 422 of the Code, the
aggregate Fair Market Value, determined as of the time an Incentive Stock Option
is granted, of the Common Stock with respect to which Incentive Stock Options
are exercisable for the first time by the Optionee during any calendar year,
under this Plan and stock options that satisfy the requirements of Section 422
of the Code under any other stock option plans maintained by the Corporation (or
any parent or Subsidiary Company), shall not exceed $100,000.

       

      (b)           Limitation
on Ten Percent Shareholders.  The price at which shares of
Common Stock may be purchased upon exercise of an Incentive Stock Option granted
to an individual who, at the time such Incentive Stock Option is granted, owns,
directly or indirectly, more than ten percent (10%) of the total combined voting
power of all classes of stock issued to shareholders of the Corporation or any
Subsidiary Company, shall be no less than one hundred and ten percent (110%) of
the Fair Market Value of a share of the Common Stock of the Corporation at the
time of grant, and such Incentive Stock Option shall by its terms not be
exercisable after the earlier of the date determined under Section 8.04 or the
expiration of five (5) years from the date such Incentive Stock Option is
granted.

       

      (c)           Notice
of Disposition; Withholding; Escrow.  An Optionee shall
immediately notify the Corporation in writing of any sale, transfer, assignment
or other disposition (or action constituting a disqualifying disposition within
the meaning of Section 421 of the Code) of any shares of Common Stock acquired
through exercise of an Incentive Stock Option, within two (2) years after the
grant of such Incentive Stock Option or within one (1) year after the
acquisition of such shares, setting forth the date and manner of disposition,
the number of shares disposed of and the price at which such shares were
disposed of.  The Corporation shall be entitled to withhold from any
compensation or other payments then or thereafter due to the Optionee such
amounts as may be necessary to satisfy any minimum withholding requirements of
federal or state law or regulation and, further, to collect from the Optionee
any additional amounts which may be required for such purpose.  The
Committee may, in its discretion, require shares of Common Stock acquired by an
Optionee upon exercise of an Incentive Stock Option to be held in an escrow
arrangement for the purpose of enabling compliance with the provisions of this
Section 8.09(c).

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      ARTICLE
IX

      ADJUSTMENTS
FOR CAPITAL CHANGES

       

      9.01           General
Adjustments.  The aggregate number of shares of Common Stock
available for issuance under this Plan, the number of shares to which any Option
relates, the maximum number of shares that can be covered by Options to each
Employee, each Non-Employee Director and Non-Employee Directors as a group and
the Exercise Price per share of Common Stock under any Option shall be
proportionately adjusted for any increase or decrease in the total number of
outstanding shares of Common Stock issued subsequent to the Effective Date of
this Plan resulting from a split, subdivision or consolidation of shares or any
other capital adjustment, the payment of a stock dividend, or other increase or
decrease in such shares effected without receipt or payment of consideration by
the Corporation.

       

      9.02           Adjustments
for Mergers and Other Corporate Transactions. If, upon a merger,
consolidation, reorganization, liquidation, recapitalization or the like of the
Corporation, the shares of the Corporation’s Common Stock shall be exchanged for
other securities of the Corporation or of another corporation, each Option shall
be converted, subject to the conditions herein stated, into the right to
purchase or acquire such number of shares of Common Stock or amount of other
securities of the Corporation or such other corporation as were exchangeable for
the number of shares of Common Stock of the Corporation which such Optionee
would have been entitled to purchase or acquire except for such action, and
appropriate adjustments shall be made to the per share exercise price of
outstanding Options, provided that
in each case the number of shares or other securities subject to the substituted
or assumed stock options and the exercise price thereof shall be determined in a
manner that satisfies the requirements of Treasury Regulation §1.424-1 and the
regulations issued under Section 409A of the Code so that the substituted or
assumed option is not deemed to be a modification of the outstanding
Options. Notwithstanding
any provision to the contrary herein, the term of any Option granted hereunder
and the property which the Optionee shall receive upon the exercise or
termination thereof shall be subject to and be governed by the provisions
regarding the treatment of any such Options set forth in a definitive agreement
with respect to any of the aforementioned transactions entered into by the
Corporation to the extent any such Option remains outstanding and unexercised
upon consummation of the transactions contemplated by such definitive
agreement.

       

      ARTICLE
X

      AMENDMENT
AND TERMINATION OF THE PLAN

       

      The Board
may, by resolution, at any time terminate or amend the Plan with respect to any
shares of Common Stock as to which Options have not been granted, subject to
regulations of the OTS and any required shareholder approval or any shareholder
approval which the Board may deem to be advisable for any reason, such as for
the purpose of obtaining or retaining any statutory or regulatory benefits under
tax, securities or other laws or satisfying any applicable stock exchange
listing requirements.  The Board may not, without the consent of the
holder of an Option, alter or impair any Option previously granted or awarded
under this Plan except as provided by Article IX hereof or except as
specifically authorized herein.

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      Notwithstanding
anything to the contrary herein, in no event shall the Board of Directors
without shareholder approval amend the Plan nor shall the Board of Directors or
the Committee amend an Option in any manner that effectively allows the
repricing of any Option previously granted under the Plan either through a
reduction in the Exercise Price or through the cancellation and regrant of a new
Option in exchange for the cancelled Option (except as permitted pursuant to
Article IX in connection with a change in the Corporation’s
capitalization).

       

      ARTICLE
XI

      EMPLOYMENT
RIGHTS

       

      Neither
the Plan nor the grant of any Options hereunder nor any action taken by the
Committee or the Board in connection with the Plan shall create any right on the
part of any Employee or Non-Employee Director of the Corporation or a Subsidiary
Company to continue in such capacity.

       

      ARTICLE
XII

      WITHHOLDING

       

      12.01        Tax
Withholding.  The Corporation may withhold from any cash
payment made under this Plan sufficient amounts to cover any applicable
withholding and employment taxes, and if the amount of such cash payment is
insufficient, the Corporation may require the Optionee to pay to the Corporation
the amount required to be withheld as a condition to delivering the shares
acquired pursuant to an Option.  The Corporation also may withhold or
collect amounts with respect to a disqualifying disposition of shares of Common
Stock acquired pursuant to exercise of an Incentive Stock Option, as provided in
Section 8.09(c).

       

      12.02        Methods
of Tax Withholding.  The Board or the Committee is authorized
to adopt rules, regulations or procedures which provide for the satisfaction of
an Optionee’s tax withholding obligation by the retention of shares of Common
Stock to which the Employee would otherwise be entitled pursuant to an Option
and/or by the Optionee’s delivery of previously owned shares of Common Stock or
other property.

       

      ARTICLE
XIII

      EFFECTIVE
DATE OF THE PLAN; TERM

       

      13.01        Effective
Date of the Plan.  This Plan as originally adopted became
effective on the Effective Date, and Options may be granted hereunder no earlier
than the date this Plan was approved by shareholders and no later than the
termination of the Plan.  The shareholders of the Corporation approved
this Plan as originally adopted pursuant to Article XIV hereof.  The
amendment and restatement of the Plan was adopted effective as of November 12,
2008.

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      13.02       Term
of Plan.  Unless sooner terminated, this Plan shall remain in
effect for a period of ten (10) years ending on the tenth anniversary of the
Effective Date.  Termination of the Plan shall not affect any Options
previously granted and such Options shall remain valid and in effect until they
have been fully exercised or earned, are surrendered or by their terms or the
terms hereof expire or are forfeited.

       

      ARTICLE
XIV

      SHAREHOLDER
APPROVAL

       

      The
shareholders of the Corporation approved this Plan as originally adopted at a
meeting of shareholders of the Corporation held within twelve (12) months
following the Effective Date in order to meet the requirements of (i) Section
422 of the Code and regulations thereunder and (ii) Section 162(m) of the Code
and regulations thereunder.  This Plan as originally adopted was also
approved by a majority of the total votes eligible to be cast by shareholders
other than the MHC.

       

      ARTICLE
XV

      MISCELLANEOUS

       

      15.01      Governing
Law.  To the extent not governed by federal law, this Plan
shall be construed under the laws of the State of Louisiana.

       

      
        
          
          

        

        
          13exh102.htm

     

    
      

      

    

    EXHIBIT 10.2

     

    
      HOME
FEDERAL BANCORP, INC. OF LOUISIANA

       

      AMENDED
AND RESTATED

      2005
RECOGNITION AND RETENTION PLAN AND TRUST AGREEMENT

       

       

      ARTICLE
I

      ESTABLISHMENT
OF THE PLAN AND TRUST

       

      1.01           Home
Federal Bancorp, Inc. of Louisiana (the “Corporation”) hereby amends and
restates its 2005 Recognition and Retention Plan (as amended and restated, the
“Plan”) and Trust (the “Trust”) upon the terms and conditions hereinafter stated
in this Amended and Restated 2005 Recognition and Retention Plan and Trust
Agreement (the “Agreement”), with the amendment and restatement effective as of
November 12, 2008.  The Plan is being amended and restated in order to
comply with Section 409A of the Code, as defined herein.

       

      1.02           The
Trustee hereby accepts this Trust and agrees to hold the Trust assets existing
on the date of this Agreement and all additions and accretions thereto upon the
terms and conditions hereinafter stated.

       

      ARTICLE
II

      PURPOSE
OF THE PLAN

       

      The
purpose of the Plan is to retain personnel of experience and ability in key
positions by providing Employees and Non-Employee Directors with a proprietary
interest in the Corporation and its Subsidiary Companies as compensation for
their contributions to the Corporation and the Subsidiary Companies and as an
incentive to make such contributions in the future.   Each
Recipient of a Plan Share Award hereunder is advised to consult with his or her
personal tax advisor with respect to the tax consequences under federal, state,
local and other tax laws of the receipt of a Plan Share Award
hereunder.

       

      ARTICLE
III

      DEFINITIONS

       

      The
following words and phrases when used in this Agreement with an initial capital
letter, unless the context clearly indicates otherwise, shall have the meanings
set forth below.  Wherever appropriate, the masculine pronouns shall
include the feminine pronouns and the singular shall include the
plural.

       

      3.01           “Advisory
Director” means a person appointed to serve as an advisory or emeritus director
by the Board of either the Corporation or the Bank or the successors
thereto.

       

      3.02           “Bank”
means Home Federal Savings and Loan Association, the wholly owned subsidiary of
the Corporation.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      3.03           “Beneficiary”
means the person or persons designated by a Recipient to receive any benefits
payable under the Plan in the event of such Recipient’s death.  Such
person or persons shall be designated in writing on forms provided for this
purpose by the Committee and may be changed from time to time by similar written
notice to the Committee.  In the absence of a written designation, the
Beneficiary shall be the Recipient’s surviving spouse, if any, or if none, his
or her estate.

       

      3.04           “Board”
means the Board of Directors of the Corporation.

       

      3.05           “Change
in Control” shall mean a change in the ownership of the Corporation or the Bank,
a change in the effective control of the Corporation or the Bank or a change in
the ownership of a substantial portion of the assets of the Corporation or the
Bank, in each case as provided under Section 409A of the Code and the
regulations thereunder.

       

      3.06           “Code”
means the Internal Revenue Code of 1986, as amended.

       

      3.07           “Committee”
means the committee appointed by the Board pursuant to Article IV
hereof.

       

      3.08           “Common
Stock” means shares of the common stock, $0.01 par value per share, of the
Corporation.

       

      3.09           “Director”
means a member of the Board of Directors of the Corporation or a Subsidiary
Company or any successors thereto, including Non-Employee Directors as well as
Officers and Employees serving as Directors.

       

      3.10           “Disability”
means the Recipient (i) is unable to engage in any substantial gainful activity
by reason of any medically determinable physical or mental impairment which can
be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, or (ii) is, by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continuous period of not less than 12
months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of the
Corporation or the Bank (or would have received such benefits for at least three
months if he had been eligible to participate in such plan).

       

      3.11           “Effective
Date” means the day upon which the Board originally adopted this
Plan.

       

      3.12           “Employee”
means any person who is employed by the Corporation or a Subsidiary Company or
is an Officer of the Corporation or a Subsidiary Company, but not including
directors who are not also Officers of or otherwise employed by the Corporation
or a Subsidiary Company.

       

      3.13           “Employer
Group” means the Corporation and any Subsidiary Company which, with the consent
of the Board, agrees to participate in the Plan.

       

      3.14           “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      3.15           “Non-Employee
Director” means a member of the Board (including advisory boards, if any) of the
Corporation or any Subsidiary Company or any successor thereto, including an
Advisory Director of the Board of the Corporation and/or any Subsidiary Company
or a former Officer or Employee of the Corporation and/or any Subsidiary Company
serving as a Director or Advisory Director who is not an Officer or Employee of
the Corporation or any Subsidiary Company.

       

      3.16           “Offering”
means the offering of Common Stock to the public completed in 2005 in connection
with the mutual holding company (the “MHC”) reorganization of the Bank and the
issuance of the capital stock of the Bank to the
Corporation.

       

      3.17           “Officer”
means an Employee whose position in the Corporation or a Subsidiary Company is
that of a corporate officer, as determined by the Board.

       

      3.18           “OTS”
means the Office of Thrift Supervision.

       

      3.19           “Performance
Share Award” means a Plan Share Award granted to a Recipient pursuant to Section
7.05 of the Plan.

       

      3.20           “Performance
Goal” means an objective for the Corporation or any Subsidiary Company or any
unit thereof or any Employee of the foregoing that may be established by the
Committee for a Performance Share Award to become vested, earned or
exercisable.  The establishment of Performance Goals are intended to
make the applicable Performance Share Awards “performance-based” compensation
within the meaning of Section 162(m) of the Code, and the Performance Goals
shall be based on one or more of the following criteria:

       

      (i)           net
income, as adjusted for non-recurring items;

      (ii)          cash
earnings;

      (iii)         earnings
per share;

      (iv)        
cash earnings per share;

      (v)          return
on average equity;

      (vi)         return
on average assets;

      (vii)        assets;

      (viii)       stock
price;

      (ix)         total
shareholder return;

      (x)          capital;

      (xi)         net
interest income;

      (xii)        market
share;

      (xiii)       cost
control or efficiency ratio; and

      (xiv)       asset
growth.

       

      3.21           “Plan
Shares” or “Shares” means shares of Common Stock which may be distributed to a
Recipient pursuant to the Plan.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      3.22           “Plan
Share Award” or “Award” means a right granted under this Plan to receive a
distribution of Plan Shares upon completion of the service requirements
described in Article VII hereof, and includes Performance Share
Awards.

       

      3.23           “Recipient”
means an Employee or Non-Employee Director or former Employee or Non-Employee
Director who receives a Plan Share Award or Performance Share Award under the
Plan.

       

      3.24           “Subsidiary
Companies” means those subsidiaries of the Corporation, including the Bank,
which meet the definition of “subsidiary corporations” set forth in Section
424(f) of the Code, at the time of the granting of the Plan Share Award in
question.

       

      3.25           “Trustee”
means such firm, entity or persons approved by the Board to hold legal title to
the Plan and the Plan assets for the purposes set forth
herein.

       

      ARTICLE
IV

      ADMINISTRATION
OF THE PLAN

       

      4.01           Duties
of the Committee.  The Plan shall be administered and
interpreted by the Committee, which shall consist of two or more members of the
Board, each of whom shall be a Non-Employee Director, as defined in Rule
16b-3(b)(3)(i) of the Exchange Act.  In addition, each member of the
Committee shall be an (i) “outside director” within the meaning of Section
162(m) of the Code and the regulations thereunder at such times as is required
under such regulations and (ii) an “independent director” as such term is
defined in Rule 4200(a)(15) of the Marketplace Rules of the Nasdaq Stock
Market.  The Committee shall have all of the powers allocated to it in
this and other Sections of the Plan.  The interpretation and
construction by the Committee of any provisions of the Plan or of any Plan Share
Award granted hereunder shall be final and binding in the absence of action by
the Board.  The Committee shall act by vote or written consent of a
majority of its members.  Subject to the express provisions and
limitations of the Plan, the Committee may adopt such rules, regulations and
procedures as it deems appropriate for the conduct of its
affairs.  The Committee shall report its actions and decisions with
respect to the Plan to the Board at appropriate times, but in no event less than
once per calendar year.

       

      4.02           Role
of the Board.  The members of the Committee and the Trustee
shall be appointed or approved by, and will serve at the pleasure of, the
Board.  The Board may in its discretion from time to time remove
members from, or add members to, the Committee, and may remove or replace the
Trustee, provided that any directors who are selected as members of the
Committee shall be Non-Employee Directors.

       

      4.03           Revocation
for Misconduct.  Notwithstanding anything to the contrary
herein, the Board or the Committee may by resolution immediately revoke, rescind
and terminate any Plan Share Award, or portion thereof, to the extent not yet
vested, previously granted or awarded under this Plan to an Employee who is
discharged from the employ of the Corporation or a Subsidiary Company for cause,
which, for purposes hereof, shall mean termination because of the Employee’s
personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty
involving personal profit, intentional failure to perform stated duties, willful
violation of any law, rule, or regulation (other than traffic violations or
similar offenses) or final cease-and-desist order.  Unvested Plan
Share Awards to a Non-Employee Director who is removed for cause pursuant to the
Corporation’s Articles of Incorporation or Bylaws or the Bank’s Charter and
Bylaws or the constituent documents of such other Subsidiary Company on whose
board he or she serves shall terminate as of the effective date of such
removal.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      4.04           Limitation
on Liability.  No member of the Board or the Committee shall be
liable for any determination made in good faith with respect to the Plan or any
Plan Shares or Plan Share Awards granted under it.  If a member of the
Board or the Committee is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of anything done or not
done by him in such capacity under or with respect to the Plan, the Corporation
shall, subject to the requirements of applicable laws and regulations, indemnify
such member against all liabilities and expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred
by him in connection with such action, suit or proceeding if he or she acted in
good faith and in a manner he reasonably believed to be in the best interests
of  the Corporation and any Subsidiary Companies and, with respect to
any criminal action or proceeding, had no reasonable cause to believe his or her
conduct was unlawful.

       

      4.05           Compliance
with Laws and Regulations.  All Awards granted hereunder shall
be subject to all applicable federal and state laws, rules and regulations and
to such approvals by any government or regulatory agency or shareholders as may
be required.   The Corporation shall not be required to issue or
deliver any certificates for shares of Common Stock prior to the completion of
any registration or qualification of or obtaining of consents or approvals with
respect to such shares under any federal or state law or any rule or regulation
of any government body, which the Corporation shall, in its sole discretion,
determine to be necessary or advisable.

       

      4.06           Restrictions
on Transfer.  The Corporation may place a legend upon any
certificate representing shares issued pursuant to a Plan Share Award noting
that such shares may be restricted by applicable laws and
regulations.

       

      4.07           No
Deferral of Compensation Under Section 409A of the Code.  All
Awards granted under the Plan are designed to not constitute a deferral of
compensation for purposes of Section 409A of the Code.  No Recipient
shall be permitted to defer the recognition of income beyond the date an Award
shall be deemed earned pursuant to Article VII of this Plan.

       

      ARTICLE
V

      CONTRIBUTIONS

       

      5.01           Amount
and Timing of Contributions.  The Board shall determine the
amount (or the method of computing the amount) and timing of any contributions
by the Corporation and any Subsidiary Companies to the Trust established under
this Plan.  Such amounts may be paid in cash or in shares of Common
Stock and shall be paid to the Trust at the designated time of
contribution.  No contributions by Employees or Non-Employee Directors
shall be permitted.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      5.02           Investment
of Trust Assets; Number of Plan Shares.  Subject to Section
8.02 hereof, the Trustee shall invest all of the Trust’s assets primarily in
Common Stock.  The aggregate number of Plan Shares available for
distribution pursuant to this Plan shall be 69,756 shares of Common Stock,
subject to adjustment as provided in Section 9.01 hereof, which shares shall be
purchased (from the Corporation and/or, if permitted by applicable regulations,
from shareholders thereof) by the Trust with funds contributed by the
Corporation.  During the time this Plan remains in effect, Awards to
each Employee and each Non-Employee Director shall not exceed 25% and 5% of the
shares of Common Stock available under the Plan, respectively.  Plan
Share Awards to Non-Employee Directors in the aggregate shall not exceed 30% of
the number of shares available under this Plan.

       

      ARTICLE
VI

      ELIGIBILITY;
ALLOCATIONS

       

      6.01           Awards.  Plan
Share Awards and Performance Share Awards may be made to such Employees and
Non-Employee Directors as may be selected by the Board or the
Committee.  In selecting those Employees to whom Plan Share Awards
and/or Performance Share Awards may be granted and the number of Shares covered
by such Awards, the Board or the Committee shall consider the duties,
responsibilities and performance of each respective Employee and Non-Employee
Director, his or her present and potential contributions to the growth and
success of the Corporation, his or her salary or other compensation and such
other factors as deemed relevant to accomplishing the purposes of the
Plan.  The Board or the Committee may but shall not be required to
request the written recommendation of the Chief Executive Officer of the
Corporation other than with respect to Plan Share Awards and/or Performance
Share Awards to be granted to him or her.

       

      6.02           Form
of Allocation.  As promptly as practicable after an allocation
pursuant to Section 6.01 that a Plan Share Award or a Performance Share Award is
to be issued, the Board or the Committee shall notify the Recipient in writing
of the grant of the Award, the number of Plan Shares covered by the Award, and
the terms upon which the Plan Shares subject to the Award shall be distributed
to the Recipient.  The Board or the Committee shall maintain records
as to all grants of Plan Share Awards  or Performance Share Awards
under the Plan.

       

      6.03           Allocations
Not Required to any Specific Employee or Non-Employee
Director.  No Employee or Non-Employee Director shall have any
right or entitlement to receive a Plan Share Award hereunder, with such Awards
being at the total discretion of the Board or the Committee.

       

      ARTICLE
VII

      EARNING
AND DISTRIBUTION OF PLAN SHARES; VOTING RIGHTS

       

      7.01           Earning
Plan Shares; Forfeitures.

       

      (a)           General
Rules.  Subject to the terms hereof, Plan Share Awards shall be
earned by a Recipient at a rate no more rapid than twenty percent (20%) of the
aggregate number of Shares covered by the Award as of each annual anniversary of
the date of grant of the Award, with such vesting rate to be determined by the
Committee.  If the employment of an Employee or service as a
Non-Employee Director (including for purposes hereof service as an Advisory
Director) is terminated before the Plan Share Award has been completely earned
for any reason (except as specifically provided in subsection (b) below), the
Recipient shall forfeit the right to any Shares subject to the Award which have
not theretofore been earned.  In the event of a forfeiture of the
right to any Shares subject to an Award, such forfeited Shares shall become
available for allocation pursuant to Section 6.01 hereof as if no Award had been
previously granted with respect to such Shares.  No fractional shares
shall be distributed pursuant to this Plan.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

           
(b)           Exception
for Terminations Due to Death, Disability or Change in
Control.  Notwithstanding the general rule contained in Section
7.01(a), all Plan Shares subject to a Plan Share Award held by a Recipient whose
employment with the Corporation or any Subsidiary Company or service as a
Non-Employee Director (including for purposes hereof service as an Advisory
Director) terminates due to death or Disability shall be deemed earned as of the
Recipient’s last day of employment with or service to the Corporation or any
Subsidiary Company (provided, however, no such accelerated vesting shall occur
if a Recipient remains employed by or continues to serve as a Director
(including for purposes hereof service as an Advisory Director) of at least one
member of the Employer Group) and shall be distributed as soon as practicable
thereafter.  Furthermore, notwithstanding the general rule contained
in Section 7.01(a), all Plan Shares subject to a Plan Share Award held by a
Recipient shall be deemed earned as of the effective date of a Change in
Control.

       

      7.02           Distribution
of Dividends.  Any cash dividends, stock dividends or returns
of capital declared in respect of each unvested Plan Share Award will be held by
the Trust for the benefit of the Recipient on whose behalf such Plan Share Award
is then held by the Trust, and such dividends or returns of capital, including
any interest thereon, will be paid out proportionately by the Trust to the
Recipient thereof as soon as practicable after the Plan Share Award becomes
earned.

       

      7.03           Distribution
of Plan Shares.

       

          
(a)           Timing
of Distributions:  General Rule.  Subject to the
provisions of Section 7.05 hereof, Plan Shares shall be distributed to the
Recipient or his or her Beneficiary, as the case may be, as soon as practicable
after they have been earned.

       

          
(b)           Form
of Distributions.  All Plan Shares, together with any Shares
representing stock dividends, shall be distributed in the form of Common
Stock.  One share of Common Stock shall be given for each Plan Share
earned and distributable.  Payments representing cash dividends shall
be made in cash.

       

          
(c)           Withholding.  The
Trustee may withhold from any cash payment or Common Stock distribution made
under this Plan sufficient amounts to cover any applicable withholding and
employment taxes, and if the amount of a cash payment is insufficient, the
Trustee may require the Recipient or Beneficiary to pay to the Trustee the
amount required to be withheld as a condition of delivering the Plan
Shares.  The Trustee shall pay over to the Corporation or any
Subsidiary Company which employs or employed such Recipient any such amount
withheld from or paid by the Recipient or Beneficiary.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

          
(d)           Restrictions
on Selling of Plan Shares.  Plan Share Awards may not be sold,
assigned, pledged or otherwise disposed of prior to the time that they are
earned and distributed pursuant to the terms of this Plan.  Upon
distribution, the Board or the Committee may require the Recipient or his or her
Beneficiary, as the case may be, to agree not to sell or otherwise dispose of
his distributed Plan Shares except in accordance with all then applicable
federal and state securities laws, and the Board or the Committee may cause a
legend to be placed on the stock certificate(s) representing the distributed
Plan Shares in order to restrict the transfer of the distributed Plan Shares for
such period of time or under such circumstances as the Board or the Committee,
upon the advice of counsel, may deem appropriate.

       

      7.04          Voting
of Plan Shares.  All shares of Common Stock held by the Trust
shall be voted by the Trustees in their discretion.  Recipients of
Plan Share Awards shall have no voting rights until the Common Stock is earned
and distributed pursuant to the terms of the Plan Share
Award.

       

      7.05           Performance
Awards.

       

           (a)           Designation
of Performance Share Awards.  The Committee may determine to
make any Plan Share Award a Performance Share Award by making such Plan Share
Award contingent upon the achievement of a Performance Goal or any combination
of Performance Goals.  Each Performance Share Award shall be evidenced
by a written agreement (“Performance Award Agreement”), which shall set forth
the Performance Goals applicable to the Performance Share Award, the maximum
amounts payable and such other terms and conditions as are applicable to the
Performance Share Award.  Each Performance Share Award shall be
granted and administered to comply with the requirements of Section 162(m) of
the Code or any successor thereto.

       

          
(b)           Timing
of Grants.  Any Performance Share Award shall be made not later
than 90 days after the start of the period for which the Performance Share Award
relates and shall be made prior to the completion of 25% of such
period.  All determinations regarding the achievement of any
Performance Goals will be made by the Committee.  The Committee may
not increase during a year the amount of a Performance Share Award that would
otherwise be payable upon achievement of the Performance Goals but may reduce or
eliminate the payments as provided for in the Performance Award
Agreement.

       

          
(c)           Restrictions
on Grants.  Nothing contained in the Plan will be deemed in any
way to limit or restrict the Committee from making any Award or payment to any
person under any other plan, arrangement or understanding, whether now existing
or hereafter in effect.

       

         
(d)           Rights
of Recipients.  A Participant who receives a Performance Share
Award payable in Common Stock shall have no rights as a shareholder until the
Common Stock is issued pursuant to the terms of the Performance Award
Agreement.

       

         
(e)           Distribution.  No
Performance Share Award or portion thereof that is subject to the attainment or
satisfaction of a condition of a Performance Goal shall be distributed or
considered to be earned or vested until the Committee certifies in writing that
the conditions or Performance Goal to which the distribution, earning or vesting
of such Award is subject have been achieved.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      7.06           Nontransferable.  Plan
Share Awards and Performance Share Awards and rights to Plan Shares shall not be
transferable by a Recipient, and during the lifetime of the Recipient, Plan
Shares may only be earned by and paid to a Recipient who was notified in writing
of an Award by the Committee pursuant to Section 6.02 and/or 7.05(a), as the
case may be.  No Recipient or Beneficiary shall have any right in or
claim to any assets of the Plan or Trust, nor shall the Corporation or any
Subsidiary Company be subject to any claim for benefits
hereunder.

       

       

      ARTICLE VIII

      TRUST

       

      8.01           Trust.  The
Trustees shall receive, hold, administer, invest and make distributions and
disbursements from the Trust in accordance with the provisions of the Plan and
Trust and the applicable directions, rules, regulations, procedures and policies
established by the Committee pursuant to the Plan.

       

      8.02           Management
of Trust.  It is the intent of this Plan and Trust that the
Trustees shall have complete authority and discretion with respect to the
arrangement, control and investment of the Trust, and that the Trustees shall
invest all assets of the Trust in Common Stock to the fullest extent
practicable, except to the extent that the Trustees determine that the holding
of monies in cash or cash equivalents is appropriate to meet the obligations of
the Trust.  In performing their duties, the Trustees shall have the
power to do all things and execute such instruments as may be deemed necessary
or proper, including the following powers:

       

      (a)           To
invest up to one hundred percent (100%) of all Trust assets in Common Stock
without regard to any law now or hereafter in force limiting investments for
trustees or other fiduciaries.  The investment authorized herein may
constitute the only investment of the Trust, and in making such investment, the
Trustees are authorized to purchase Common Stock from the Corporation or from
any other source, and such Common Stock so purchased may be outstanding, newly
issued, or treasury shares.

       

      (b)           To
invest any Trust assets not otherwise invested in accordance with (a) above, in
such deposit accounts, and certificates of deposit, obligations of the United
States Government or its agencies or such other investments as shall be
considered the equivalent of cash.

       

      (c)           To
cause stocks, bonds or other securities to be registered in the name of a
nominee, without the addition of words indicating that such security is an asset
of the Trust (but accurate records shall be maintained showing that such
security is an asset of the Trust).

       

      (d)           To
hold cash without interest in such amounts as may in the opinion of the Trustees
be reasonable for the proper operation of the Plan and Trust.

       

      (e)           To
employ brokers, agents, custodians, consultants and accountants.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

           
(f)           To hire
counsel to render advice with respect to their rights, duties and obligations
hereunder, and such other legal services or representation as they may deem
desirable.

       

          
(g)           To hold
funds and securities representing the amounts to be distributed to a Recipient
or his Beneficiary as a consequence of a dispute as to the disposition thereof,
whether in a segregated account or held in common with other assets of the
Trust.

       

      Notwithstanding
anything herein contained to the contrary, the Trustees shall not be required to
make any inventory, appraisal or settlement or report to any court, or to secure
any order of a court for the exercise of any power herein contained, or give
bond.

       

      8.03           Records
and Accounts.  The Trustees shall maintain accurate and
detailed records and accounts of all transactions of the Trust, which shall be
available at all reasonable times for inspection by any legally entitled person
or entity to the extent required by applicable law, or any other person
determined by the Board or the Committee.

       

      8.04           Expenses.  All
costs and expenses incurred in the operation and administration of this Plan
shall be borne by the Corporation or, in the discretion of the Corporation, the
Trust.

       

      8.05           Indemnification.  Subject
to the requirements of applicable laws and regulations, the Corporation shall
indemnify, defend and hold the Trustees harmless against all claims, expenses
and liabilities arising out of or related to the exercise of the Trustees’
powers and the discharge of their duties hereunder, unless the same shall be due
to their gross negligence or willful misconduct.

       

      ARTICLE
IX

      MISCELLANEOUS

       

      9.01           Adjustments
for Capital Changes.  The aggregate number of Plan Shares
available for distribution pursuant to the Plan Share Awards and the number of
Shares to which any unvested Plan Share Award relates shall be proportionately
adjusted for any increase or decrease in the total number of outstanding shares
of Common Stock issued subsequent to the Effective Date of the Plan resulting
from any split, subdivision or consolidation of shares or other capital
adjustment, the payment of a stock dividend or other increase or decrease in
such shares effected without receipt or payment of consideration by the
Corporation.  If, upon a merger, consolidation, reorganization,
liquidation, recapitalization or the like of the Corporation or of another
corporation, the shares of the Corporation’s Common Stock shall be exchanged for
other securities of the Corporation or of another corporation, each Recipient of
a Plan Share Award shall be entitled, subject to the conditions herein stated,
to receive such number of shares of Common Stock or amount of other securities
of the Corporation or such other corporation as were exchangeable for the number
of shares of Common Stock of the Corporation which such Recipients would have
been entitled to receive except for such action.

       

      9.02           Amendment
and Termination of Plan.  The Board may, by resolution, at any
time amend or terminate the Plan, subject to any required shareholder approval
or any shareholder approval which the Board may deem to be advisable for any
reason, such as for the purpose of obtaining or retaining any statutory or
regulatory benefits under tax, securities or other laws or satisfying any
applicable stock exchange listing requirements.  The Board may not,
without the consent of the Recipient, alter or impair his or her Plan Share
Award except as specifically authorized herein.  Notwithstanding any
other provision of the Plan, this Plan may not be terminated prior to such time
as all outstanding Plan Share Awards granted to recipients have been earned or
forfeited in accordance with the Plan.

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      9.03           Employment
or Service Rights.  Neither the Plan nor any grant of a Plan
Share Award, Performance Share Award or Plan Shares hereunder nor any action
taken by the Trustees, the Committee or the Board in connection with the Plan
shall create any right on the part of any Employee or Non-Employee Director to
continue in such capacity.

       

      9.04           Voting
and Dividend Rights.  No Recipient shall have any voting or
dividend rights or other rights of a shareholder in respect of any Plan Shares
covered by a Plan Share Award or Performance Share Award, except as expressly
provided in Sections 7.02, 7.04 and 7.05 above, prior to the time said Plan
Shares are actually earned and distributed to him.

       

      9.05           Governing
Law.  To the extent not governed by federal law, the Plan and
Trust shall be governed by the laws of the State of
Louisiana.

       

      9.06           Effective
Date.  This Plan as originally adopted shall be effective as of
the Effective Date, and Awards may be granted hereunder no earlier than the date
this Plan was approved by the shareholders of the Corporation and prior to the
termination of the Plan.  The Plan as originally adopted was approved
by a majority of the total votes eligible to be cast by the Corporation’s
shareholders and a majority of the total votes eligible to be cast by the
Corporation’s shareholders other than the MHC.

       

      9.07           Term
of Plan.  This Plan shall remain in effect until the earlier of
(i) ten (10) years from the Effective Date, (ii) termination by the Board, or
(iii) the distribution to Recipients and Beneficiaries of all the assets of the
Trust.

       

      9.08           Tax
Status of Trust.  It is intended that the Trust established
hereby be treated as a Grantor Trust of the Corporation under the provisions of
Section 671 et seq. of the Code, as the same may be amended from time to
time.

       

       

       

      [Remainder
of Page Intentionally Left Blank]

       

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      IN WITNESS
WHEREOF, the Corporation has caused this amended and restated Agreement
to be executed by its duly authorized officers and the Trustees of the Trust
established pursuant hereto have duly and validly executed this Agreement, all
on this 12th day of November, 2008.

       

       

      
        	
                HOME
      FEDERAL BANCORP, INC. OF LOUISIANA

              	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                TRUSTEES:

              
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/Daniel
      R. Herndon                   

              	
                /s/Henry
      M. Hearne                    

              
	 
      	 
      	
                Daniel
      R. Herndon

              	
                Henry
      M. Hearne

              
	 
      	 
      	
                President
      and Chief Executive Officer

              	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                /s/Woodus
      K. Humphrey                 

              
	 
      	 
      	 
      	
                Woodus
      K. Humphrey

              

      

      

      
        
          
          

        

        
          12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}]]