Document:

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                                  EXHIBIT 10.2
                                  ------------

                          NONQUALIFIED STOCK OPTION AND
                       STOCK APPRECIATION RIGHTS AGREEMENT

         THIS AGREEMENT, made and executed this 28th day of January, 1991,
between HORIZON BANCORP, an Indiana corporation and registered bank holding
company ("Company") and CRAIG M. DWIGHT, an employee of the Company or one of
its subsidiaries ("Employee").

                                   WITNESSETH:

         WHEREAS, the Board of Directors of the Company ("Board") has authorized
the Compensation Committee of the Board ("Committee") to grant options to
acquire the Company's stock and stock appreciation rights in tandem therewith,
to employees of the Company and its subsidiaries who, on the date of the grant
of such options and rights, are not subject to the provisions of Section
16(b)(3) of the Securities Exchange Act of 1934; and

         WHEREAS, the grant of such options and rights will promote the
interests of the Company and its shareholders by encouraging employees, upon
whose judgment, initiative and industry the Company is largely dependent for the
successful conduct and growth of its business, to continue their association
with the Company by providing additional incentive and opportunity for industry
and efficiency through stock ownership; and

         WHEREAS, it is the view of the Company that this goal may be achieved
by granting nonqualified stock options and stock appreciation rights to
employees from time to time; and

         WHEREAS, the Employee has been designated by the Committee as an
employee to whom a stock option and related stock appreciation rights should be
granted, as determined from the duties performed, the initiative and industry of
the Employee, the nature of his service, and his potential contribution to the
future development, growth and prosperity of the Company;

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained, the Company and the Employee hereby agree as
follows:

         1. GRANT OF OPTION. The Company grants to the Employee the right and
option ("Option") to purchase all or any part of an aggregate of 1,200 shares of
no par value common stock of the Company subject to the terms and conditions of
this Agreement.

         2. OPTION PRICE. The purchase price of the shares of common stock
represented by this Option shall be $13.50 per share.

         3. TERM. The term of the Option shall be ten (10) years from the date
of this Agreement, subject to earlier termination as provided in this Agreement.

         4. NONTRANSFERABILITY. The Option shall not be assignable or
transferable by the Employee except by will or by the laws of descent and
distribution. The Option shall not be pledged or hypothecated in any way, nor
shall it be subject to execution, attachment or similar process. Any attempted
assignment, transfer, pledge or other disposition of the Option in violation of
this provision or the levy of execution, attachment or similar process upon the
Option shall be null and void and without effect, and shall cause the Option to
be terminated.

         5. EXERCISE OF OPTION. The Option may not be exercised in whole or in
part after the expiration of ten (10) years from the date of this Agreement.
Subject to the foregoing, the

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Option may not be exercised during the first year of this Agreement; after the
first year and through the second year, the Option may be exercised as to not
more than twenty percent (20%) of the total option shares; through the third
year as to not more than forty percent (40%) of the total option shares; through
the fourth year as to not more than sixty percent (60%) of the total option
shares; through the fifth year as to not more than eighty percent (80%) of the
total option shares; and during the sixth year and at any time and from time to
time thereafter during the remaining term of the Option as to all or any part of
the option shares. Notwithstanding the preceding sentence, the Option may be
exercised in full in the event of a change in control of the Company or upon the
death of the Employee, as provided in paragraph 7(b), below. For purposes of
this Agreement, a "change in control of the Company" shall be deemed to have
occurred if any person or entity, other than the Company, any person who on the
day hereof is an officer or director of the Company or the Company's
tax-qualified employee stock ownership plan, is or becomes the beneficial owner,
directly or indirectly, of securities of the Company representing twenty-five
percent (25%) or more of the combined voting power of the Company's then
outstanding securities; or, during any period of two (2) consecutive years
during the term of this Agreement, individuals who at the beginning of such
period constitute the Board of Directors of the Company cease for any reason to
constitute at least a majority thereof, unless the election of each director who
was not a director at the beginning of such period has been approved by
directors representing at least a majority of the directors then in office who
were directors at the beginning of the period.

         The Option may be exercised during the lifetime of the Employee only by
the Employee.

         Full payment for the shares purchased shall be made at the time of
exercising the Option in whole or in part. Such payment may be made either (a)
in cash, or (b) in the discretion of the Committee, by delivering shares of
stock to the Company (the "Delivered Stock"), or a combination of cash and
Delivered Stock. Delivered Stock shall be valued at its fair market value
determined as of the date of the exercise of the option. No shares shall be
issued until full payment for them has been made.

         6. RESTRICTIVE LEGEND. The Employee hereby declares that it is his
intention to hold all shares acquired as a result of this Option for investment
and not with a view to resale or distribution to the public and agrees that all
certificates for such shares shall bear the following legend:

         "The shares represented by this certificate have been acquired for
         investment and have not been registered under the Securities Exchange
         Act of 1933. The shares may not be sold or transferred in the absence
         of such registration or an exemption therefrom under said Act."

or such other terms as shall be approved by the Committee in conjunction with
counsel to the Company.

         7. EARLY TERMINATION OF OPTION.

                  (a) All rights to exercise the exercisable portion of this
         Option shall terminate thirty (30) days after the Employee's employment
         with the Company or its subsidiaries terminates for any reason other
         than death. A substantial reduction in duties and responsibilities of
         the optionee from those held at the time of this grant may be
         considered as termination by the Board of Directors. An optionee's
         rights to exercise options may be terminated prior to the expiration of
         the thirty (30) day period, or at any time during the period of this
         Plan only with the written consent of the optionee. For

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         purpose of this Agreement, the term "subsidiary" shall mean any banking
         institution or other corporation more than fifty percent (50%) of whose
         total combined voting stock of all classes is held by the Company or by
         another corporation which qualifies as a subsidiary within this
         definition. Transfer from the Company to a subsidiary or vice versa, or
         from one subsidiary to another, shall not be deemed termination of
         employment.

                  (b) If the Employee dies while employed by the Company or its
         subsidiaries, the Option shall be exercisable in full within one (1)
         year after the date of his death at which time the Option or any
         portion thereof remaining unexercised shall terminate. During the one
         (1) year period immediately following the death of the Employee, the
         Option may be exercised in full, subject to the limitations of this
         Option, by the personal representatives of his estate or by his
         legatees or heirs; provided, however, this Option shall not be
         exercised after the expiration of ten (10) years from the date of this
         Agreement.

         8. STOCK APPRECIATION RIGHTS

                  (a) A stock appreciation right ("SAR") as to shares of the
         Company's stock is hereby granted to the Employee in conjunction with
         the Option. The SAR granted hereby shall (i) expire when the Option
         expires, (ii) become transferable only when the Option is transferable
         and under the same conditions, and (iii) become exercisable only when
         and to the extent that the Option is eligible to be exercised. The
         "economic value" of the SAR (as defined in subparagraph (c) hereof) may
         not exceed one hundred percent (100%) of the difference between the
         exercise price of the number of shares covered by the Option and the
         fair market value of such shares determined as of the date the SAR is
         exercised, and the SAR may only be exercised when such fair market
         value exceeds such exercise price.

                  (b) The SAR may be exercised by the Employee by surrendering
         the Option or applicable portion thereof. As provided in subparagraph
         (a) above, the SAR shall be exercisable at such time or times and only
         the extent that the Option is exercisable. If the Employee is an
         officer or director of the Company, the SAR may be exercised, and
         elections to receive cash in settlement thereof may be made, only
         during such periods of time as may be allowed under Rule 16b-3 of the
         Securities Exchange Act of 1934, as amended. The Option shall no longer
         be exercisable to the extent that it is surrendered upon exercise of
         the SAR.

                  (c) Upon exercise of the SAR and surrender of the
         corresponding Option, the Employee shall become entitled to receive the
         economic value of the SAR. Such economic value shall be equal to the
         excess of the fair market value (determined on the date of exercise of
         the SAR) of one (1) share of stock over the option price per share
         specified in paragraph 2 of this Agreement, multiplied by the number of
         shares with respect to which the SAR shall have been exercised.

                  (d) Upon exercise of the SAR, the Employee shall receive the
         economic value thereof in cash, in shares of Company stock, or any
         combination thereof. The Committee shall have the sole discretion
         either to determine the form in which such payment of economic value is
         to be made or to consent to or disapprove of the election of the
         Employee to receive cash in full or partial payment of such value.

                  (e) Upon exercise of the Option or applicable portion thereof,
         the SAR or applicable portion thereof shall be deemed to have been
         exercised and shall expire.

                                       3
<PAGE>

         9. CHANGE IN STOCK. In the event of any change in the common stock of
the Company through stock dividends, split-ups, recapitalizations,
reclassifications, or otherwise, or in the event that other stock shall be
substituted for the present common stock of the Company as the result of any
merger, consolidation or reorganization, then the Company shall make appropriate
adjustment or substitution in the number, kind and determination in this respect
shall be final and conclusive upon all parties.

         IN WITNESS WHEREOF, the Company and the Employee have caused this
Nonqualified Stock Option and Stock Appreciation Rights Agreement to be executed
on the day and year first above written, which is the date on which the Option
is granted.

                                              HORIZON BANCORP

ATTEST:

                                              By: /s/ Robert C. Dabagia
By: /s/ Thomas P. McCormick
Secretary

                                              EMPLOYEE

                                              By: /s/ Craig M. Dwight

                                       4<PAGE>
                                  EXHIBIT 10.3
                                  ------------

                                 HORIZON BANCORP
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                   Amended and Restated as of January 1, 1997

<PAGE>

             HORIZON BANCORP SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                TABLE OF CONTENTS
                                -----------------

ARTICLE                                                                PAGE
-------                                                                ----

         INTRODUCTION                                                     1

I.       DEFINITIONS                                                      1

         1.1      Adjustment                                              1
         1.2      Adjustment Factor                                       2
         1.3      Board                                                   2
         1.4      Code                                                    2
         1.5      Committee                                               2
         1.6      Company                                                 2
         1.7      Compensation                                            2
         1.8      Effective Date                                          2
         1.9      Employee                                                2
         1.10     Excess Matching Contributions                           3
         1.11     Excess Matching Contributions Account                   3
         1.12     Employer Supplemental Contributions                     3
         1.13     Employer Supplemental Contributions
                    Account                                               3
         1.14     Excess Salary Redirection Contributions                 3
         1.15     Excess Salary Redirection Contributions
                    Account                                               3
         1.16     Individual Account                                      3
         1.17     Matching Contributions                                  3
         1.18     Matching Contributions Account                          4
         1.19     Participant                                             4
         1.20     Plan                                                    4
         1.21     Plan Year                                               4
         1.22     Salary Redirection Contributions                        4
         1.23     Salary Redirection Contributions Account                4
         1.24     Thrift Plan                                             4
         1.25     Total and Permanent Disability                          4

II.      ELIGIBILITY AND PARTICIPATION                                    4

                                        i

<PAGE>

III.     CONTRIBUTIONS AND ALLOCATIONS                                    5

         3.1      Excess Salary Redirection Contributions                 5
         3.2      Excess Matching Contributions                           7
         3.3      Employer Supplemental Contributions                     7
         3.4      Allocation of Adjustments                               8
         3.5      Allocation of Forfeitures                               9

IV.      FUNDING OF BENEFITS                                              9

         4.1      Unsecured Contractual Rights                            9
         4.2      Trust                                                   9
         4.3      Change in Control                                      10

V.       DISTRIBUTIONS                                                   10

         5.1      Forfeitures on Termination of Service                  10
         5.2      Year of Service                                        11
         5.3      Time of Payment of Benefits                            11
         5.4      Method of Payment                                      11
         5.5      Death of the Participant and Beneficiary
                    Designation                                          11
         5.6      Payment Form Elections                                 12

VI.      PLAN ADMINISTRATION                                             12

         6.1      Company                                                12
         6.2      Benefits Committee                                     13
         6.3      Claims Procedure                                       13
         6.4      Records                                                15
         6.5      No Liability                                           15
         6.6      Indemnity of Committee Members                         15
         6.7      Discretionary Powers and Authority of the
                    Company and Committee                                15

VII.     AMENDMENT AND TERMINATION OF THE PLAN                           15

         7.1      Amendment of the Plan                                  15
         7.2      Termination of the Plan                                15

VIII.    MISCELLANEOUS                                                   16

         8.1      Governing Law                                          16
         8.2      Headings and Gender                                    16

                                       ii

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         8.3      Administration Expenses                                16
         8.4      Participant's Rights; Acquittance                      16
         8.5      Spendthrift Clause                                     16
         8.6      Counterparts                                           16
         8.7      No Enlargement of Employment Rights                    16
         8.8      Limitations on Liability                               16
         8.9      Incapacity of Participant or Beneficiary               17
         8.10     Corporate Successors                                   17

         SIGNATURES                                                      17

                                       iii

<PAGE>

                                  INTRODUCTION
                                  ------------

         Effective January 1, 1997, Horizon Bancorp (the "Company") adopts the
Horizon Bancorp Supplemental Executive Retirement Plan (the "Plan") as set forth
herein. This Plan constitutes a complete amendment and restatement of the Plan
which was originally effective January 1, 1993. The provisions of this amended
and restated Plan shall be effective for Plan Years commencing on and after
January 1, 1997, unless otherwise specified herein or required by applicable
law. The rights and benefits, if any, of individuals who were employed by the
Company prior to the Effective Date shall be determined in accordance with the
provisions of the Plan, if any, in effect on the date their employment
terminated.

         The purpose of this Plan is to permit a select group of management or
highly compensated employees of the Company or its subsidiaries who participate
in the Horizon Bancorp Employees' Thrift Plan (the "Thrift Plan") to elect to
defer compensation from the Company or receive contributions from the Company
without regard to the limitations imposed by the Internal Revenue Code of 1986,
as amended (the "Code") on the benefits which may accrue to such employees under
the Thrift Plan. It is the intention of the Company that the Plan shall
constitute an unfunded arrangement maintained for the purpose of providing
deferred compensation for a select group of management or highly compensated
employees for federal income tax purposes and for purposes of Title I of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA").

                                    ARTICLE I
                                   DEFINITIONS
                                   -----------

         Whenever the initial letter of a word or phrase is capitalized herein,
the following words and phrases shall have the meanings stated below unless a
different meaning is plainly required by the context:

         1.1 "Adjustment" means the amounts of earnings or losses credited to a
Participant's Individual Account pursuant to Section 3.4 for each Plan Year. The
amount of interest credited shall be determined based on the investment earnings
under the funding method(s) used by the Company pursuant to Section 4.2.
However, if no such method is used, interest shall be credited to a
Participant's Individual Account at a rate equal to the average twenty-six (26)
week U.S. Treasury Bill rate published in the WALL STREET JOURNAL as in effect
as of the first business day of each calendar month. Effective January 1, 1997,
Adjustments made to each Participant's Individual Account shall be determined as
if the amounts credited to such Individual Account were invested in hypothetical
investments designated by the Committee to be used to measure increases or
decreases in the Individual Account over time.

         1.2 "Adjustment Factor" means the cost of living adjustment factor
prescribed by the Secretary of the Treasury under Section 415(d) of the Code, as
applied to such items and in such manner as the Secretary of the Treasury shall
provide.

<PAGE>

         1.3 "Board" means the Board of Directors of the Company.

         1.4 "Code" means the Internal Revenue Code of 1986, as amended from
time to time. References to a section of the Code shall include that section and
any comparable section or sections of any future legislation that amends,
supplements or supersedes said section.

         1.5 "Committee" means the Benefits Committee described in Section 6.2
of the Plan.

         1.6 "Company" means Horizon Bancorp.

         1.7 "Compensation" means a Participant's wages, salaries and fees for
professional services and other amounts received (without regard to whether or
not an amount is paid in cash) paid during a Plan Year for personal services
actually rendered in the course of employment with the Company to the extent
that the amounts are includable in gross income including, but not limited to,
commissions paid salesmen, compensation for services on the basis of a
percentage of profits, commissions on insurance premiums, tips, bonuses, fringe
benefits, reimbursements, overtime and expense allowances. Compensation shall
include (i) elective contributions to the Plan or any other plan maintained by
the Company on the Employee's behalf, (ii) compensation deferred under an
eligible deferred compensation plan within the meaning of Section 457(b)
(relating to deferred compensation plans maintained by state and local
governments and tax-exempt organizations), and (iii) employee contributions
(under governmental plans) described in Section 141(h)(2) of the Code that are
picked up by the employing unit and thus are treated as company contributions.
"Elective contributions" are amounts excludable from the Employee's gross income
under Section 402(a)(8) of the Code (relating to an arrangement under Section
401(k)), Section 402(h) of the Code (relating to a simplified employee pension
plan), Section 125 of the Code (relating to a cafeteria plan), Section 403(b) of
the Code (relating to a tax-sheltered annuity), or under this Plan. Compensation
taken into account for all purposes under the Plan shall not be limited as
provided in Section 401(a)(17) of the Code to the first Two Hundred Thousand
Dollars ($200,000), as adjusted by the Adjustment Factor, of any Participant's
Compensation. Effective January 1, 1997, Compensation shall not include wages
received upon the exercise by a Participant of a stock appreciation right
("SAR") received under any plan provided by the Company or its subsidiaries.

         1.8 "Effective Date" means January 1, 1997.

         1.9 "Employee" means any person who is employed by the Company or any
of its "afffiliates" as defined under Code Sections 414(b), 414(c), 414(m) or
414(o).

         1.10 "Excess Matching Contributions" means contributions made to the
Plan by the Company for the Plan Year, at the discretion of the Company, and
allocated to a Participant's Individual Account by reason of the Participant's
Excess Salary Redirection Contributions contributed to the Plan pursuant to
Section 3.1(a).

         1.11 "Excess Matching Contributions Account" means that portion of a
Participant's Individual Account attributable to (a) Excess Matching
Contributions allocated to such Participant pursuant to Section 3.2 and (b) the
Participant's proportionate share, attributable to

                                       2
<PAGE>

his Excess Matching Contribution Account, of the Adjustments, reduced by any
distributions from such account pursuant to Article V.

         1.12 "Employer Supplemental Contributions" means contributions made to
the Plan by the Company for the Plan Year, at the discretion of the Company,
pursuant to Section 3.3.

         1.13 "Employer Supplemental Contributions Account" means that portion
of a Participant's Individual Account attributable to (a) Employer Supplemental
Contributions allocated to such Participant pursuant to Section 3.3 and (b) the
Participant's proportionate share, attributable to his Employer Supplemental
Contributions Account, of the Adjustments, reduced by any distributions from
such account pursuant to Article V.

         1.14 "Excess Salary Redirection Contributions" means contributions made
to the Plan pursuant to Section 3.1 by the Company, at the election of the
Participant, and at the discretion of the Company, in lieu of cash Compensation
under a Participation Agreement between the Participant and the Company.

         1.15 "Excess Salary Redirection Contributions Account" means that
portion of a Participant's Individual Account attributable to (a) Excess Salary
Redirection Contributions allocated to such Participant pursuant to Section 3.1
and (b) the Participant's proportionate share, attributable to his Excess Salary
Redirection Contributions Account, of the Adjustments, reduced by any
distributions from such account pursuant to Article V.

         1.16 "Individual Account" means the detailed record kept of the amounts
credited or charged to each Participant in accordance with the terms of the
Plan. Such Individual Account is comprised of whichever of the following are
applicable to a particular Participant: Excess Matching Contributions Account,
Excess Salary Redirection Contributions Account and Employer Supplemental
Contributions Account and any earnings (or losses) with respect thereto.

         1.17 "Matching Contributions" means the matching contributions made to
the Thrift Plan by the Company for the Plan Year and allocated to a
Participant's Matching Contributions Account under the Thrift Plan by reason of
the Participant's Salary Redirection Contributions made thereunder.

         1.18 "Matching Contributions Account" means the account established for
a Participant under the Thrift Plan to which Matching Contributions are made.

         1.19 "Participant" means a salaried Employee of the Company or its
subsidiaries who is a Participant under the Thrift Plan and who becomes a
Participant pursuant to the provisions of Article II of the Plan.

         1.20 "Plan" means the Horizon Bancorp Supplemental Executive Retirement
Plan.

         1.21 "Plan Year" means the twelve (12) month period beginning January 1
and ended December 31.

                                       3
<PAGE>

         1.22 "Salary Redirection Contributions" means a Participant's
contributions made to the Thrift Plan by the Company at the election of the
Participant, in lieu of cash Compensation, pursuant to a salary redirection
agreement between the Participant and the Company and allocated to a
Participant's Salary Redirection Contributions Account under the Thrift Plan.

         1.23 "Salary Redirection Contributions Account" means the account
established for a Participant under the Thrift Plan to which Salary Redirection
Contributions are allocated.

         1.24 "Thrift Plan" means the Horizon Bancorp Employees' Thrift Plan, as
amended from time to time.

         1.25 "Total and Permanent Disability" or "Totally and Permanently
Disabled" means a disability as determined for purposes of the Federal Social
Security Act which qualifies the Participant for permanent disability insurance
payments in accordance with such Act. Disability for purposes of the Plan shall
not include any disability which is incurred while the Participant is on leave
of absence because of military or similar service and for which a governmental
pension is payable. The Committee may require subsequent proof of continued
disability, prior to the Participant's sixty-fifth (65th) birthday, at intervals
of not less than six (6) months. A minimal level of earnings in restricted
activity during any period of disability shall not disqualify a Participant from
receiving disability benefits for such period if the disabled Participant
receives disability benefits under the Social Security Act for the same period.

                                   ARTICLE II
                          ELIGIBILITY AND PARTICIPATION
                          -----------------------------

         A management or highly compensated Employee of the Company or its
subsidiaries is eligible to participate in the Plan provided such Employee is
designated as a Participant by the Board in writing.

                                   ARTICLE III
                          CONTRIBUTIONS AND ALLOCATIONS
                          -----------------------------

         3.1      EXCESS SALARY REDIRECTION CONTRIBUTIONS.

                  (a)      AMOUNT OF CONTRIBUTION. The Company shall credit, as
                           of each pay period, Excess Salary Redirection
                           Contributions on behalf of each executive who is a
                           Participant under the Plan for the Plan Year, such
                           percentage (or dollar amount) of such Participant's
                           Compensation as mutually agreed upon between the
                           Participant and the Company pursuant to the terms of
                           a Participation Agreement meeting the requirements of
                           Section 3.1(d) prior to the beginning of each Plan
                           Year. The Participant will elect in the Participation
                           Agreement to defer an overall percentage (or dollar
                           amount) of the Participant's Compensation which shall
                           represent the total amount of deferrals to both the
                           Thrift Plan and this Plan. The percentage (or dollar
                           amount) of the Participant's Excess Salary
                           Redirection Contributions shall be the percentage (or
                           dollar amount)

                                       4
<PAGE>

                           remaining of the total percentage (or dollar amount)
                           elected on the Participation Agreement after the
                           maximum percentage (or dollar amount) of Salary
                           Redirection Contributions made to the Thrift Plan are
                           taken into account. Such percentage (or dollar
                           amount) shall remain in effect for each Plan Year
                           thereafter until or unless another percentage (or
                           dollar amount) is agreed upon by the Participant and
                           the Company prior to the beginning of the applicable
                           Plan Year or until the Company notifies the
                           Participant, prior to the beginning of such Plan
                           Year, that the Participant is no longer eligible for
                           contributions under this Section 3.1.

                  (b)      The maximum percentage of a Participant's
                           Compensation that may constitute Excess Salary
                           Redirection Contributions for a Plan Year shall not,
                           when added to a Participant's Salary Redirection
                           Contributions under the Thrift Plan, exceed
                           twenty-five percent (25%) of such Participant's
                           Compensation for such Plan Year.

                  (c)      TIMING OF CONTRIBUTIONS. Excess Salary Redirection
                           Contributions made for the benefit of a Participant
                           for any Plan Year shall be made to a Participant's
                           Excess Salary Redirection Contributions Account
                           within the time prescribed for making Salary
                           Redirection Contributions under the Thrift Plan.

                  (d)      PARTICIPATION AGREEMENT. As a condition to the
                           Company's obligation to make an Excess Salary
                           Redirection Contribution for the benefit of a
                           Participant pursuant to subsection (a), the
                           Participant must execute a Participation Agreement
                           with the Company on such forms as prescribed by the
                           Committee in which it is agreed that the Company will
                           redirect a portion of the Participant's Compensation,
                           as specified in the Participation Agreement, during
                           each pay period. The Participation Agreement for any
                           Plan Year must be executed and delivered by the
                           Participant and the Company prior to the January 1 of
                           the calendar year to which the Participation
                           Agreement relates. Provided, however, in the case of
                           a Participant who has not previously elected to have
                           Excess Salary Redirection Contributions made under
                           the Plan on his behalf, such Participant may elect to
                           have such contributions made after January 1 of the
                           calendar year to which the Participation Agreement
                           relates, so long as the Participant has executed and
                           delivered an Excess Salary Redirection Agreement
                           prior to the date the Participant renders services
                           for the Company with respect to which the Excess
                           Salary Redirection Contributions shall relate.

                                    The Participant's election to defer a
                           portion of his Compensation each year shall be
                           irrevocable once made, except that the Committee, in
                           its sole discretion, may waive the Participant's
                           election to defer compensation if the Participant has
                           suffered an unforeseeable emergency which results in
                           severe financial hardship. Such waiver shall apply to
                           the portion of the

                                       5
<PAGE>

                           calendar year remaining after the Committee's
                           determination that the Participant has suffered a
                           severe financial hardship. The effective date of the
                           waiver shall be fixed by the Committee after
                           application by the Participant under such procedures
                           as may be fixed by the Committee. The Participant's
                           application shall include a signed statement of the
                           facts causing financial hardship and any other facts
                           required by the Committee in its discretion.

                                    For purposes of this Section 3.1, an
                           unforeseeable emergency is a severe financial
                           hardship to a Participant resulting from a sudden and
                           unexpected illness or accident of the Participant or
                           a dependent of the Participant (as defined in Section
                           152(a) of the Code), loss of the Participant's
                           property due to casualty, or other similar
                           extraordinary and unforeseen circumstances arising as
                           a result of events beyond the control of the
                           Participant. The circumstances that will constitute
                           an unforeseeable emergency will depend upon the facts
                           of each case; however, the Committee shall not grant
                           any waiver of a Participant's deferral election to
                           the extent that his hardship may be relieved (i)
                           through reimbursement or compensation by insurance or
                           otherwise; (ii) by liquidation of the Participant's
                           assets, to the extent liquidation of such assets
                           would not itself cause severe financial hardship; or
                           (iii) by cessation of Salary Redirection
                           Contributions under the Thrift Plan. An unforeseeable
                           emergency shall not include the need to send a
                           Participant's child to college or the desire to
                           purchase a home.

         3.2      EXCESS MATCHING CONTRIBUTIONS.

                  (a)      AMOUNT OF CONTRIBUTION. The Company may, but shall
                           not be required to, make Excess Matching
                           Contributions under the Plan. Excess Matching
                           Contributions to be made by the Company for the
                           benefit of a Participant for any Plan Year shall
                           consist of two parts. The first part shall be in an
                           amount, as determined by the Board, which does not
                           exceed the difference between (i) and (ii) below:

                           (i)      The Matching Contributions which would have
                                    been allocated to the Participant's Matching
                                    Contributions Account under the Thrift Plan
                                    for the Plan Year without giving effect to
                                    the limitations on Compensation imposed by
                                    Section 401(a)(17) of the Code, the
                                    reductions applicable to highly compensated
                                    employees due to the discrimination tests
                                    set forth in Section 401(k) and (m) of the
                                    Code, the limitations on Salary Redirection
                                    Contributions imposed by Section 402(g) of
                                    the Code or the limitations on annual
                                    additions imposed by Section 415 of the
                                    Code.

                           (ii)     The amount of Matching Contributions
                                    actually allocated to the Participant's
                                    Matching Contributions Account under the
                                    Thrift Plan for the Plan Year.

                                       6
<PAGE>

                  (b)      In addition to the Excess Matching Contributions
                           specified in subsection (a), the Company may, as
                           determined by the Board, make an additional Excess
                           Matching Contribution in such amount as shall be
                           determined by the Board in its discretion.

                  (c)      TIMING OF CONTRIBUTIONS. Excess Matching
                           Contributions made for the benefit of a Participant
                           for any Plan Year shall be credited to a
                           Participant's Excess Matching Contributions Account
                           within the time prescribed for making Matching
                           Contributions under the Thrift Plan.

         3.3 EMPLOYER SUPPLEMENTAL CONTRIBUTIONS. In addition to the Excess
Matching Contributions provided for in Section 3.2, the Employer may make
Employer Supplemental Contributions under the plan in accordance with the
provisions of subsections (a) and (b).

                  (a)      AMOUNT OF CONTRIBUTION. The Company may, but shall
                           not be required to, contribute on behalf of a
                           Participant such amounts as the Board may in its
                           discretion determine from time to time to be
                           advisable, which amounts shall constitute the
                           Employer Supplemental Contributions under the Plan.

                  (b)      TIMING OF CONTRIBUTIONS. Employer Supplemental
                           Contributions may be made by the Company at any time.

         3.4 ALLOCATION OF ADJUSTMENTS.

                  (a)      INDIVIDUAL ACCOUNTS. The Committee shall establish
                           and maintain an Individual Account in the name of
                           each Participant to which the Committee shall credit
                           all amounts allocated to each such Participant
                           pursuant to this Article III. Each Individual Account
                           shall be comprised of whichever of the following are
                           applicable to a particular Participant: Excess
                           Matching Contributions Account, Excess Salary
                           Redirection Contributions Account and Employer
                           Supplemental Contributions Account.

                  (b)      DETERMINATION OF ADJUSTMENTS. Following the
                           allocations made pursuant to Sections 3.1, 3.2, and
                           3.3, the Committee shall determine the Adjustments
                           for December 31 of the applicable Plan Year (and, in
                           the event a Participant is eligible for a
                           distribution as provided in Article V, for the last
                           day of the month immediately preceding the month the
                           Participant terminates service for any reason), and
                           on such other dates as the Committee deems advisable,
                           by adding together all income received, and realized
                           and unrealized gains and any realized and unrealized
                           losses since the most recent allocation of
                           Adjustments to Participants' Individual Accounts.

                                       7
<PAGE>

                  (c)      ALLOCATION OF ADJUSTMENTS PRIOR TO JANUARY 1, 1997.
                           For all Plan Years ending prior to January 1, 1997,
                           the Adjustments shall be allocated as of the end of
                           the Plan Year to the Individual Accounts of
                           Participants who maintain a credit balance in their
                           Individual Accounts as of such date in the same
                           proportion that the balance of each Participant's
                           Individual Account as of such date bears to the
                           balance of all Individual Accounts of Participants in
                           the Plan on such date. Provided, however, in the
                           event any Participant is entitled to a distribution
                           of his Individual Account under Article V, the
                           Adjustments shall be allocated as of the last day of
                           the month immediately preceding the month in which
                           the Participant's termination of service occurs.

                  (d)      ALLOCATION OF ADJUSTMENTS COMMENCING ON JANUARY 1,
                           1997. Effective as of January 1, 1997, Adjustments
                           shall be determined for each Participant's Individual
                           Account under Section 3.4(b) above, and then credited
                           to each Participant's Individual Account under this
                           subsection (d) as of the last day of the Plan Year
                           and on such other dates as the Committee deems
                           advisable. Provided, however, in the event any
                           Participant is entitled to a distribution of this
                           Individual Account under Article V, the Adjustments
                           shall be allocated as of the last day of the month
                           immediately preceding the month in which the
                           Participant's termination of service occurs. No
                           provision of the Plan shall impose or be deemed to
                           impose any obligation upon the Company, other than an
                           unsecured contractual obligation to make a cash
                           payment to Participants and their beneficiaries in
                           accordance with the terms of the Plan. Benefits
                           payable under the Plan shall be paid directly by the
                           Company from the Company's general assets.

         3.5 ALLOCATION OF FORFEITURES. The amount, if any, of a Participant's
Excess Matching Contributions and Employer Supplemental Contributions Accounts
forfeited under Section 5.1 shall be allocated to the Excess Matching
Contributions Accounts or the Employer Supplemental Contributions Accounts, as
the case may be, of all other Participants eligible to receive Excess Matching
Contributions under Section 3.2 and Employer Supplemental Contributions under
Section 3.3 for the Plan Year in which the forfeiture occurs. Such allocation
shall be allocated in the proportion that the Participant's Compensation for the
Plan Year bears to the total Compensation of all Participants for such Plan
Year. If, however, there are no Participants under the Plan who are eligible to
receive an allocation of forfeitures for the Plan Year in which a forfeiture
occurs, then, once the Company has satisfied all obligations to Participants
under the Plan, such forfeiture shall revert to the Company.

                                       8
<PAGE>

                                   ARTICLE IV
                               FUNDING OF BENEFITS
                               -------------------

         4.1 UNSECURED CONTRACTUAL RIGHTS. The Plan at all times shall be
unfunded and shall constitute a mere promise by the Company to make benefit
payments in the future. Notwithstanding any other provision of this Plan or any
trust created in connection with the Plan, neither a Participant nor his
designated beneficiary shall have any preferred claim on, or any beneficial
ownership interest in, any assets of the Company prior to the time benefits are
paid as provided in Article V, including any Compensation deferred hereunder by
the Participant. All rights created under this Plan shall be mere unsecured
contractual rights of the Participant against the Company.

         4.2 TRUST. Notwithstanding the provisions of Section 4.1, the Committee
may, in its discretion, satisfy all or any part of the Company's obligations
under the Plan from a trust established by the Company in connection with the
Plan or from an insurance contract, annuity or similar vehicle owned by the
Company or by setting aside and investing amounts deferred under the Plan as an
asset of the Company. Any such trust or other vehicle shall constitute solely a
means to assist the Company in meeting its promised obligations under the Plan
and shall not constitute a funded account within the meaning of ERISA or the
Code, nor shall it create a security interest for the benefit of any Participant
or beneficiary. Any trust created hereunder shall conform in all respects to the
terms of the Model Trust, as described in Revenue Procedure 92-64.

         4.3 CHANGE IN CONTROL.

                  (a)      ESTABLISHMENT OF A TRUST DUE TO CHANGE IN CONTROL OF
                           THE COMPANY. Notwithstanding the provisions of
                           Sections 4.1 and 4.2, upon a Change in Control of the
                           Company, as defined in Section 4.3(b), the Company
                           shall, as soon as possible, but in no event later
                           than ninety (90) days following the Change in
                           Control, establish a trust that shall substantially
                           conform to the model trust, as described in Revenue
                           Procedure 92-64. Upon the creation of such trust, the
                           Company shall make an irrevocable lump sum
                           contribution to the trust in an amount that is
                           sufficient to pay all Plan Participants and
                           beneficiaries the benefits to which Plan Participants
                           or their beneficiaries would be entitled pursuant to
                           the terms of the Plan as of the date on which the
                           Change in Control occurred.

                  (b)      DEFINITION OF CHANGE IN CONTROL. "Change in Control"
                           means a change in control of a nature that would be
                           required to be reported in response to Item 6(e) of
                           Schedule 14A of Regulation 14A promulgated under the
                           Securities Exchange Act of 1934, as amended, or if
                           Item 6(e) is no longer in effect, any regulations
                           issued by the Securities and Exchange Commission
                           pursuant to the Securities Exchange Act of 1934 which
                           serve similar purposes; provided that, without
                           limitation, a Change in Control shall be deemed to
                           have occurred if and when (i) any "person" (as such
                           term is used in Sections 13(d) and 14(d)(2) of the
                           Securities Exchange Act

                                       9
<PAGE>

                           of 1934) is or becomes a beneficial owner, directly
                           or indirectly, of securities of the Company
                           representing twenty-five percent (25%) or more of the
                           combined voting power of the Company's then
                           outstanding securities or (ii) individuals who were
                           members of the Board of Directors of the Company
                           immediately prior to a meeting of the shareholders of
                           the Company involving a contest for the election of
                           directors shall not constitute a majority of the
                           Board of Directors following such election.
                           Notwithstanding the foregoing, a Change in Control of
                           the Company shall not occur as a result of the
                           issuance of stock by the Company in connection with
                           any public offering or private placement of its
                           stock.

                                    ARTICLE V
                                  DISTRIBUTIONS
                                  -------------

         5.1 FORFEITURES ON TERMINATION OF SERVICE. A Participant's Excess
Salary Redirection Contributions Account shall not be subject to forfeiture or
reversion to the Company hereunder. Provided, however, to the extent specified
by the Board at the time an Employee becomes a Participant, the Participant's
Excess Matching Contributions Account and Employer Supplemental Contributions
Account under the Plan shall be subject to forfeiture upon the Participant's
termination of employment, prior to his completion of such number of Years of
Service as shall be determined by the Board at the time he became a Participant,
under circumstances other than any one of the following: (i) the death of the
Participant while still employed; (ii) the Committee's determination that the
Participant is Totally and Permanently Disabled; or (iii) a Participant's
retirement on or after attaining age sixty-five (65).

         Notwithstanding the foregoing provisions of this Section 5.1, the
Participant shall not have any preferred claim on, or any beneficial ownership
interest in, any assets of the Company or any trust created in connection with
the Plan and any such assets shall be and remain subject to the claims of the
Company's creditors until the time such assets are actually paid to the
Participant as provided in Article V.

         5.2 YEAR OF SERVICE. For purposes of this Article V, a Year of Service
means each Plan Year (commencing on and after the Effective Date) during which
the Employee has completed one thousand (1,000) Hours of Service for the
Company, as defined in Section 1.23 of the Thrift Plan.

         5.3 TIME OF PAYMENT OF BENEFITS. All nonforfeitable amounts credited to
a Participant's Individual Account, including any Adjustments credited in
accordance with Section 3.5, shall be distributed to a Participant (or his
designated beneficiary) within thirty (30) days after the earliest of a
Participant's termination of service following death, Total and Permanent
Disability, retirement on or after attaining age sixty-five (65) or other
separation from service with the Company.

         5.4 METHOD OF PAYMENT. Benefits shall be distributed in a single lump
sum payment or in substantially equal annual installments over a period of not
less than three (3) nor more than

                                       10
<PAGE>

twelve (12) years, or in a combination of those two (2) methods, as elected by a
Participant in accordance with the provisions of Section 5.6.

         5.5 DEATH OF THE PARTICIPANT AND BENEFICIARY DESIGNATION. If a
Participant dies before the distribution of his benefits under the Plan
commences, the Participant's benefits shall be distributed to the Participant's
designated beneficiary or beneficiaries in a single lump sum or in substantially
equal annual installments or in a combination of those two methods, as elected
by the Participant in accordance with the provisions of Section 5.6, as soon as
reasonably practicable after the Participant's death. Installment payments under
this Section 5.5 shall be made over a period which is not less than three (3)
nor more than twelve (12) years. If a Participant dies after distribution of his
benefits under the Plan has begun, the balance of the Participant's benefits yet
to be distributed (if any) shall continue to be distributed to the Participant's
designated beneficiary or beneficiaries in the manner in which such benefits
were being distributed on the date of the Participant's death.

         The Participant may designate a primary and contingent beneficiary or
beneficiaries on forms provided by the Committee, which for this purpose may
include the Participation Agreement. Such designation may be changed at any time
for any reason by the Participant. If the Participant fails to designate a
beneficiary, or if such designation shall for any reason be illegal or
ineffective, or if the designated beneficiary shall not survive the Participant,
his benefits under the Plan shall be paid: (i) to his surviving spouse; (ii) if
there is no surviving spouse, to his descendants (including legally adopted
children or their descendants) PER STIRPES; (iii) if there is neither a
surviving spouse nor surviving descendants, to the duly appointed and qualified
executor or other personal representative of the Participant to be distributed
in accordance with the Participant's wills or applicable intestacy law; or (iv)
in the event that there shall be no such representative duly appointed and
qualified within thirty (30) days after the date of death of the Participant,
then to such persons as, at the date of his death, would be entitled to share in
the distribution of the Participant's estate under the provisions of the
applicable statute then in force governing the descent of intestate property, in
the proportions specified in such statute. The Committee may determine the
identity of the distributees, and in so doing may act and rely upon any
information it may deem reliable upon reasonable inquiry, and upon any
affidavit, certificate, or other paper believed by it to be genuine, and upon
any evidence believed by it to be sufficient.

         5.6 PAYMENT FORM ELECTIONS. A Participant shall designate the method of
payment to be used under Sections 5.4 and 5.5 at the time he becomes a
Participant in this Plan on the form authorized by and filed with the Committee.
A Participant may change such designation by completing and filing a new
election form with the Committee at any time but in no event later than six (6)
months prior to the date on which his benefits first become distributable under
Section 5.3. If no election is in effect or if the Participant's election has
not been timely or properly made at the time distributions are to commence under
either Section 5.4 or 5.5, distribution shall be made in five (5) substantially
equal annual installments.

                                   ARTICLE VI
                               PLAN ADMINISTRATION
                               -------------------

                                       11
<PAGE>

         6.1      COMPANY.

                  (a)      The Company, in establishing and maintaining the
                           Plan, of necessity retains control of the operation
                           and administration of the Plan. The Company, in
                           accordance with specific provisions of the Plan, has,
                           as herein indicated, delegated certain of these
                           rights and obligations to the Committee which, in
                           turn, shall be solely responsible for those, and only
                           those, delegated rights and obligations.

                  (b)      The Company shall supply such full and timely
                           information for all matters relating to the Plan as
                           (i) the Committee, (ii) the trustee of any trust
                           established in connection with the Plan, or (iii) the
                           attorneys, accountants and investment manager(s)
                           engaged on behalf of the Plan by the Company may
                           require for the effective discharge of their
                           respective duties.

         6.2      BENEFITS COMMITTEE.

                  (a)      The Company shall appoint a committee of not less
                           than three (3) persons, who are members of the Board
                           but who are not Employees, to hold office at the
                           pleasure of the Company, such committee to be known
                           as the Benefits Committee ("Committee"). No
                           Compensation shall be paid to members of the
                           Committee from the trust for service on such
                           Committee. The Committee shall choose from among its
                           members a chairman and a secretary. Any action of the
                           Committee shall be determined by the vote of a
                           majority of its members. Either the chairman or the
                           secretary may execute any certificate or written
                           direction on behalf of the Committee. If the Company
                           shall fail to appoint the Committee, then the Company
                           shall constitute the plan administrator of the Plan
                           and all references to the Committee under the Plan
                           shall be deemed for all purposes to refer to the
                           Company.

                  (b)      The Committee shall hold meetings upon such notice,
                           at such place or places and at such time or times as
                           the Committee may from time to time determine. A
                           majority of the members of the Committee at the time
                           in office shall constitute a quorum for the
                           transaction of business.

                  (c)      The Committee may employ such counsel, accountants,
                           and other agents as it shall deem advisable. The
                           Company shall pay, or cause to be paid, the
                           reasonable compensation of such counsel, accountants,
                           and other agents and any other reasonable expenses
                           incurred by the Committee in the administration of
                           the Plan and trust.

                  (d)      All members of the Committee shall serve until their
                           resignation or dismissal by the Board and vacancies
                           shall be filled in the same manner as the original
                           appointments. The Board may dismiss any member of the
                           Committee with or without cause.

                                       12
<PAGE>

         6.3      CLAIMS PROCEDURE.

                  (a)      The Committee shall receive all applications for
                           benefits. Upon receipt by the Committee of such an
                           application, it shall determine all facts which are
                           necessary to establish the right of an application to
                           benefits under the provisions of the Plan and the
                           amount thereof as herein provided. Upon request, the
                           Committee shall afford the applicant the right of a
                           hearing with respect to any finding of fact or
                           determination. The applicant shall be notified in
                           writing of any adverse decision with respect to his
                           claim within sixty (60) days after its submission.
                           The notice shall be written in a manner calculated to
                           be understood by the applicant and shall include:

                           (i)      The specific reason or reasons for the
                                    denial;

                           (ii)     Specific references to the pertinent Plan
                                    provisions on which the denial is based;

                           (iii)    A description of any additional material or
                                    information necessary for the applicant to
                                    perfect the claim and an explanation why
                                    such material or information is necessary;
                                    and

                           (iv)     An explanation of the Plan's claim review
                                    procedures.

                  (b)      If special circumstances require an extension of time
                           for processing the initial claim, a written notice of
                           the extension and the reason therefor shall be
                           furnished to the claimant before the end of the
                           initial sixty (60) day period. In no event shall such
                           extension exceed sixty (60) days.

                  (c)      In the event a claim for benefits is denied or if the
                           applicant has had no response to such claim within
                           sixty (60) days of its submission (in which case the
                           claim for benefits shall be deemed to have been
                           denied), the applicant or his duly authorized
                           representative, at the applicant's sole expense, may
                           appeal the denial to the Committee within sixty (60)
                           days of the receipt of written notice of denial or
                           sixty (60) days from the date such claim is deemed to
                           be denied. In pursuing such appeal the applicant or
                           his duly authorized representative:

                           (i)      May request in writing that the Committee
                                    review the denial;

                           (ii)     May review pertinent documents; and

                           (iii)    May submit issues and comments in writing.

                  (d)      The decision on review shall be made within sixty
                           (60) days of receipt of the request for review,
                           unless special circumstances require an extension of
                           time for processing, in which case a decision shall
                           be rendered as soon

                                       13
<PAGE>

                           as possible, but not later than one hundred twenty
                           (120) days after receipt of request for review. If
                           such an extension of time is required, written notice
                           of the extension shall be furnished to the claimant
                           before the end of the original sixty (60) day period.
                           The decision on review shall be made in writing,
                           shall be written in a manner calculated to be
                           understood by the claimant, and shall include
                           specific references to the provisions of the Plan on
                           which such denial is based. If the decision on review
                           is not furnished within the time specified above, the
                           claims shall be deemed denied on review.

         6.4 RECORDS. All acts and determinations of the Committee shall be duly
recorded by the secretary thereof and all such records together with such other
documents as may be necessary in exercising its duties under the Plan shall be
reserved in the custody of such secretary. Such records and documents shall at
all times be open for inspection and for the purpose of making copies by any
person designated by the Company.

         6.5 NO LIABILITY. The Company assumes no obligation or responsibility
to any of its Employees, Participants or beneficiaries for any act of, or
failure to act, on the part of the Committee (unless the Company is the
Committee).

         6.6 INDEMNITY OF COMMITTEE MEMBERS. The Company shall indemnify and
save harmless the members of the Committee, and each of them, from and against
any and all loss resulting from liability to which the Committee, or the members
of the Committee, may be subjected by reason of any act or conduct (except
willful misconduct or gross negligence) in their official capacities in the
administration of the Plan, including all expenses reasonably incurred in their
defense, in case the Company fails to provide such defense. The Committee
members and the Company may execute a letter agreement further delineating the
indemnification agreement of this Section 6.6.

         6.7 DISCRETIONARY POWERS AND AUTHORITY OF THE COMPANY AND COMMITTEE.
The Company and the Committee shall have any and all power and authority
(including discretion with respect to the exercise of that power and authority)
which shall be necessary, properly advisable, desirable or convenient to enable
them to carry out their responsibilities under the Plan. By way of illustration
and not limitation, the Company and Committee are empowered and authorized to
(a) make rules and regulations with respect to the Plan which are not
inconsistent with the provisions of the Plan or the Code; (b) determine,
consistently therewith, all questions that may arise concerning eligibility,
benefits, status and rights of any person claiming particular status under the
Plan, including without limitation Participants, beneficiaries and the spouses
and beneficiaries thereof; and (c) subject to and consistent with the Code, to
construe and interpret the Plan and correct any defect, supply any omissions or
reconcile any inconsistencies in the Plan. Subject to the provisions of Section
6.3, such action shall be final, conclusive and binding upon all persons,
whether or not claiming benefits under the Plan.

                                   ARTICLE VII
                      AMENDMENT AND TERMINATION OF THE PLAN
                      -------------------------------------

                                       14
<PAGE>

         7.1 AMENDMENT OF THE PLAN. The Company shall have the right at any time
by action of the Board, to modify, alter or amend the Plan in whole or in part.

         7.2 TERMINATION OF THE PLAN. The Company reserves the right at any time
by action of its Board to terminate the Plan by resolution of the Board or to
reduce or cease contributions at any time.

                                  ARTICLE VIII
                                  MISCELLANEOUS
                                  -------------

         8.1 GOVERNING LAW. The Plan shall be construed, regulated and
administered according to the laws of the State of Indiana, except in those
areas preempted by the laws of the United States of America in which case such
laws will control.

         8.2 HEADINGS AND GENDER. The headings and subheadings in the Plan have
been inserted for convenience of reference only and shall not affect the
construction of the provisions hereof. In any necessary construction the
masculine shall include the feminine and the singular the plural, and vice
versa.

         8.3 ADMINISTRATION EXPENSES. The expenses of administering the Plan
shall be paid by the Company.

         8.4 PARTICIPANT'S RIGHTS; ACQUITTANCE. No Participant in the Plan shall
acquire any right to be retained in the Company's employ by virtue of the Plan,
nor, upon his dismissal, or upon his voluntary termination of employment, shall
he have any right or interest in and to any assets of the Company other than as
specifically provided herein. Unless a trust is established in connection with
the Plan, the Company shall be liable for the payment of any benefit provided
for herein.

         8.5 SPENDTHRIFT CLAUSE. No benefit or interest available hereunder will
be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment or garnishment by creditors of the
Participant or the Participant's designated beneficiary, either voluntarily or
involuntarily.

         8.6 COUNTERPARTS. The Plan may be executed in any number of
counterparts, each of which shall constitute but one and the same instrument and
may be sufficiently evidenced by any one counterpart.

         8.7 NO ENLARGEMENT OF EMPLOYMENT RIGHTS. Nothing contained in the Plan
shall be construed as a contract of employment between the Company and any
person, nor shall the Plan be deemed to give any person the right to be retained
in the employ of the Company or limit the right of the Company to employ or
discharge any person with or without cause, or to discipline any Employee.

         8.8 LIMITATIONS ON LIABILITY. Notwithstanding any of the preceding
provisions of the Plan, neither the Company, the Committee nor any individual
acting as an employee or agent of

                                       15
<PAGE>

either of them shall be liable to any Participant, Employee or beneficiary for
any claim, loss, liability or expense incurred in connection with the Plan,
except when the same shall have been judicially determined to be due to the
gross negligence or willful misconduct of such person.

         8.9 INCAPACITY OF PARTICIPANT OR BENEFICIARY. If any person entitled to
receive a payment under the Plan is physically or mentally incapable of
personally receiving and giving a valid receipt for any payment due (unless
prior claim therefor shall have been made by a duly qualified guardian or other
legal representative), then, unless and until claim therefor shall have been
made by a duly appointed guardian or other legal representative of such person,
the Company may provide for such payment or any part thereof to be made to any
other person or institution then contributing toward or providing for the care
and maintenance of such person. Any such payment shall be a payment for the
account of such person and a complete discharge of any liability of the Company
and the Plan therefor.

         8.10 CORPORATE SUCCESSORS. The Plan shall not be automatically
terminated by a transfer or sale of assets of the Company or by the merger or
consolidation of the Company into or with any other corporation or other entity,
but the Plan shall be continued after such sale, merger or consolidation only if
and to the extent that the transferee, purchaser or successor entity agrees to
continue the Plan. In the event that the Plan is not continued by the
transferee, purchaser or successor entity, then the Plan shall terminate in
accordance with the provisions of Section 7.2.

                                   SIGNATURES
                                   ----------

         IN WITNESS WHEREOF, the Company has caused this Amended and Restated
Supplemental Executive Retirement Plan to be executed by its duly authorized
officers, this      day of        , 1998, but effective as of January 1, 1997.

                                     HORIZON BANCORP

                                     By:
                                         --------------------------------------

                                     Title:
                                             ----------------------------------

ATTEST: [SEAL]

By:
     -------------------------------

Title:
        ----------------------------

                                       16

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