Document:

Exhibit 10.8

 Exhibit 10.8 
 FORM OF 
 FIRST SAVINGS BANK, F.S.B. 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 Effective January 1, 2008 

 First Savings Bank, F.S.B. 
 Supplemental Executive Retirement Plan 
 Table of Contents 
  

					
	ARTICLE I	  	Introduction	  	1
			
	ARTICLE II	  	Definitions	  	1
			
	ARTICLE III	  	Eligibility and Participation	  	3
			
	ARTICLE IV	  	Benefits	  	3
			
	ARTICLE V	  	Accounts	  	5
			
	ARTICLE VI	  	Supplemental Benefit Payments	  	5
			
	ARTICLE VII	  	Claims Procedures	  	6
			
	ARTICLE VIII	  	Amendment and Termination	  	7
			
	ARTICLE IX	  	General Provisions	  	7

 ARTICLE I 
 INTRODUCTION 
 Section 1.01 Purpose, Design and Intent. 
  

	(a)	The purpose of the First Savings Bank, F.S.B. Supplemental Executive Retirement Plan (the “Plan”) is to assist First Savings Bank, F.S.B. (the “Bank”) and its
affiliates in retaining the services of key employees until their retirement, to induce such employees to use their best efforts to enhance the business of the Bank and its affiliates, and to provide certain supplemental retirement benefits to such
employees. 

  

	(b)	The Plan, in relevant part, is intended to constitute an unfunded “excess benefit plan” as defined in Section 3(36) of the Employee Retirement Income Security Act of
1974, as amended. In this respect, the Plan is specifically designed to provide certain key employees with retirement benefits that would have been provided under various tax-qualified retirement plans sponsored by the Bank but for the applicable
limitations placed on benefits and contributions under such plans by various provisions of the Internal Revenue Code of 1986, as amended. 

 ARTICLE II 
 DEFINITIONS 
 Section 2.01 Definitions. In this Plan, whenever the context so indicates, the singular or the plural number and the masculine or feminine gender shall be deemed to include the other, the terms
“he,” “his,” and “him,” shall refer to a Participant or a beneficiary of a Participant, as the case may be, and, except as otherwise provided, or unless the context otherwise requires, the capitalized terms shall have
the following meanings: 
 (a) “Affiliate” means any corporation, trade or business, which, at the time of reference, is together with
the Bank, a member of a controlled group of corporations, a group of trades or businesses (whether or not incorporated) under common control, or an affiliated service group, as described in Sections 414(b), 414(c), and 414(m) of the Code,
respectively, or any other organization treated as a single employer with the Bank under Section 414(o) of the Code. 
 (b) “Applicable
Limitations” means one or more of the following, as applicable: 
  

	 	(i)	the maximum limitations on annual additions to a tax-qualified defined contribution plan under Section 415(c) of the Code; and 

  

	 	(ii)	the maximum limitation on the annual amount of compensation that may, under Section 401(a)(17) of the Code, be taken into account in determining contributions to and benefits
under tax-qualified plans. 

 (c) “Bank” means First Savings Bank, F.S.B. and its successors. 
 (d) “Board of Directors” means the Board of Directors of the Bank. 
 (e) “Change in Control” means a change in control as defined in Internal Revenue Section 409A of the Code and rules, regulations, and guidance of general application thereunder issued by
the Department of the Treasury, including: 
  

	 	(i)	Change in ownership: a change in ownership of the Company occurs on the date any one person or group accumulates ownership of Company stock constituting more than 50% of the
total fair market value or total voting power of Company stock, or 

  

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	 	(ii)	Change in effective control: (x) any one person or more than one person acting as a group acquires within a 12-month period ownership of Company stock possessing
30% or more of the total voting power of Company stock, or (y) a majority of the Company’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed in advance by a majority
of the Company’s board of directors, or 

  

	 	(iii)	Change in ownership of a substantial portion of assets: a change in ownership of a substantial portion of the Company’s assets occurs if in a 12-month period any one
person or more than one person acting as a group acquires from the Company assets having a total gross fair market value equal to or exceeding 40% of the total gross fair market value of all of the Company’s assets immediately before the
acquisition or acquisitions. For this purpose, gross fair market value means the value of the Company’s assets, or the value of the assets being disposed of, determined without regard to any liabilities associated with the assets.

 (f) “Code” means the Internal Revenue Code of 1986, as amended. 
 (g) “Committee” means the person(s) designated by the Board of Directors, pursuant to Section 9.02 of the Plan, to administer the Plan.

 (h) “Common Stock” means the common stock of the Company. 
 (i) “Company” means First Savings Financial Group, Inc. and its successors. 
 (j)
“Eligible Individual” means any Employee who participates in the ESOP, as the case may be, and whom the Board of Directors determines is one of a “select group of management or highly compensated employees,” as such
phrase is used for purposes of Sections 101, 201, and 301 of ERISA. 
 (k) “Employee” means any person employed by the Bank or an
Affiliate. 
 (l) “Employer” means the Bank or Affiliate thereof that employs the Employee. 
 (m) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
 (n) “ESOP” means the First Savings Bank, F.S.B. Employee Stock Ownership Plan, as amended from time to time. 
 (o) “ESOP Acquisition Loan” means a loan or other extension of credit incurred by the trustee of the ESOP in connection with the purchase of Common Stock on behalf of the ESOP. 
 (p) “ESOP Valuation Date” means any day as of which the investment experience of the trust fund of the ESOP is determined and individuals’
accounts under the ESOP are adjusted accordingly. 
 (q) “Effective Date” means January 1, 2008. 
 (r) “Participant” means an Eligible Employee who is entitled to benefits under the Plan. 
  

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 (s) “Plan” means this First Savings Bank, F.S.B. Supplemental Executive Retirement Plan.

 (t) “Separation from Service” means a termination of a Participant’s services (whether as an employee or as an independent
contractor) to the Bank. Whether a Separation from Service has occurred shall be determined in accordance with the requirements of Section 409A of the Code based on whether the facts and circumstances indicate that the Bank and the Participant
reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services the Participant would performed after a certain date or (whether as an employee or as an independent contractor) would
permanently decrease to no more than twenty percent (20%) of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36) month period. 

(u) “Supplemental ESOP Account” means an account established by an Employer, pursuant to Section 5.01 of the Plan, with respect to a
Participant’s Supplemental ESOP Benefit. 
 (v) “Supplemental ESOP Benefit” means the benefit credited to a Participant pursuant
to Section 4.01 of the Plan. 
 (w) “Supplemental Stock Ownership Account” means an account established by an Employer, pursuant
to Section 5.02 of the Plan, with respect to a Participant’s Supplemental Stock Ownership Benefit. 
 (x) “Supplemental Stock Ownership
Benefit” means the benefit credited to a Participant pursuant to Section 4.02 of the Plan. 
 ARTICLE III 

ELIGIBILITY AND PARTICIPATION 
 Section 3.01
Eligibility and Participation. 
  

	(a)	Each Eligible Employee may participate in the Plan. An Eligible Employee shall become a Participant in the Plan upon designation as such by the Board of Directors. An Eligible
Employee whom the Board of Directors designates as a Participant in the Plan shall commence participation as of the date established by the Board of Directors. The Board of Directors shall establish an Eligible Employee’s date of participation
at the same time it designates the Eligible Employee as a Participant in the Plan. 

  

	(b)	The Board of Directors may, at any time, designate an Eligible Employee as a Participant for any or all supplemental benefits provided for under Article IV of the Plan.

 ARTICLE IV 
 BENEFITS 
 Section 4.01 Supplemental ESOP Benefit. 
 As of the last day of each plan year of the ESOP, the Employer shall credit the Participant’s Supplemental ESOP Account with a Supplemental ESOP Benefit equal to the excess of (a) over (b), where:

  

	(a)	Equals the annual contributions made by the Employer and/or the number of shares of Common Stock released for allocation in connection with the repayment of an ESOP Acquisition Loan
that would otherwise be allocated to the accounts of the Participant under the ESOP for the applicable plan year, if the provisions of the ESOP were administered without regard to any of the Applicable Limitations; and 

  

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	(b)	Equals the annual contributions made by the Employer and/or the number of shares of common stock released for allocation in connection with the repayment of an ESOP Acquisition Loan
that are actually allocated to the accounts of the Participant under the provisions of the ESOP for that particular plan year, after giving effect to any reduction of such allocation required by any of the Applicable Limitations.

 Section 4.02 Supplemental Stock Ownership Benefit. 
  

	(a)	Upon a Change in Control, the Employer shall credit to the Participant’s Supplemental Stock Ownership Account a Supplemental Stock Ownership Benefit equal to (i) less
(ii), the result of which is multiplied by (iii), where: 

  

	 	(i)	Equals the total number of shares of Common Stock acquired with the proceeds of all ESOP Acquisition Loans (together with any dividends, cash proceeds, or other medium related to
such ESOP Acquisition Loans) that would have been allocated or credited for the benefit of the Participant under the ESOP and/or this Plan, as the case may be, had the Participant continued in the employ of the Employer through the first ESOP
Valuation Date following the last scheduled payment of principal and interest on all ESOP Acquisition Loans outstanding at the time of the Change in Control; and 

  

	 	(ii)	Equals the total number of shares of Common Stock acquired with the proceeds of all ESOP Acquisition Loans (together with any dividends, cash proceeds, or other medium related to
such ESOP Acquisition Loans) and allocated for the benefit of the Participant under the ESOP and/or this Plan, as the case may be, as of the first ESOP Valuation Date following the Change in Control; and 

  

	 	(iii)	Equals the fair market value of the Common Stock immediately preceding the Change in Control. 

  

	(b)	For purposes of clause (i) of subsection (a) of this Section 4.02, the total number of shares of Common Stock shall be determined by multiplying the sum of
(i) and (ii) by (iii), where: 

  

	 	(i)	Equals the average of the total shares of Common Stock acquired with the proceeds of an ESOP Acquisition Loan and allocated for the benefit of the Participant under the ESOP as of
the three most recent ESOP Valuation Dates preceding the Change in Control (or lesser number if the Participant has not participated in the ESOP for three full years); 

  

	 	(ii)	Equals the average number of shares of Common Stock credited to the Participant’s Supplemental ESOP Account for the three most recent plan years of the ESOP (such that the
three most recent plan years coincide with the three most recent ESOP Valuation Dates referred to in (i) above); and 

  

	 	(iii)	Equals the original number of scheduled annual payments on the ESOP Acquisition Loan. 

  

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 ARTICLE V 
 ACCOUNTS 
 Section 5.01 Supplemental ESOP Benefit Account. 
 For each Participant who is credited with a benefit pursuant to Section 4.01 of the Plan, the Employer shall establish, as a memorandum account on its books, a
Supplemental ESOP Account. Each year, the Committee shall credit to the Participant’s Supplemental ESOP Account the amount of benefits determined under Section 4.01 of the Plan for that year. The Committee shall credit the account with an
amount equal to the appropriate number of shares of Common Stock or other medium of contribution that would have otherwise been made to the Participant’s accounts under the ESOP but for the limitations imposed by the Code. Shares of Common
Stock shall be valued under this Plan in the same manner as under the ESOP. Cash contributions credited to a Participant’s Supplemental ESOP Account shall be credited annually with interest at a rate equal to the combined weighted return
provided to the Participant’s non-stock accounts under the ESOP. 
 Section 5.02 Supplemental Stock Ownership Account. 
 The Employer shall establish, as a memorandum account on its books, a Supplemental Stock Ownership Account. Upon a Change in Control, the Committee shall credit to the
Participant’s Supplemental Stock Ownership Account the amount of benefits determined under Section 4.02 of the Plan. The Committee shall credit the account with an amount equal to the appropriate number of shares of Common Stock or other
medium of contribution that would have otherwise been made to the Participant’s accounts under the ESOP. Shares of Common Stock shall be valued under this Plan in the same manner as under the ESOP. Cash contributions credited to a
Participant’s Supplemental Stock Ownership Account shall be credited annually with interest at a rate equal to the combined weighted return provided to the Participant’s non-stock accounts under the ESOP. 
 ARTICLE VI 
 SUPPLEMENTAL BENEFIT
PAYMENTS 
 Section 6.01 Payment of Supplemental ESOP Benefit. 
  

	(a)	A Participant’s Supplemental ESOP Benefit shall be paid to the Participant or, in the event of the Participant’s death, to his beneficiary (as designated on a form
acceptable to the Employer), in a single lump sum cash payment as soon as administratively practicable following the Participant’s Separation from Service. 

  

	(b)	A Participant shall have a non-forfeitable right to the Supplemental ESOP Benefit credited to him under this Plan in the same percentage as he has with respect to benefits allocated
to him under the ESOP at the time the benefits become distributable to him under the ESOP. 

 Section 6.02 Payment of Supplemental
Stock Ownership Benefit. 
  

	(a)	A Participant’s Supplemental Stock Ownership Benefit shall be paid to the Participant or, in the event of the Participant’s death, to his beneficiary (as designated on a
form acceptable to the Employer), in a single lump sum cash payment as soon as administratively practicable following the Participant’s Separation from Service. 

  

	(b)	A Participant shall always have a fully non-forfeitable right to the Supplemental Stock Ownership Benefit credited to him under this Plan. 

  

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 Section 6.03 Payment to Specified Employees. 
 If when a Separation from Service occurs the Participant is a “specified employee” within the meaning of Section 409A of the Code, the benefit shall be
paid to the Participant in a single lump sum cash payment without interest on the first day of the seventh month after which the Participant incurs a Separation from Service. 
 ARTICLE VII 
 CLAIMS PROCEDURES 
 Section 7.01 Claims Reviewer. 
 For purposes of handling
claims with respect to this Plan, the “Claims Reviewer” shall be the Committee, unless the Committee designates another person or group of persons as Claims Reviewer. 
 Section 7.02 Claims Procedure. 
  

	(a)	An initial claim for benefits under the Plan must be made by the Participant or his beneficiary or beneficiaries in accordance with the terms of this Section 7.02.

  

	(b)	Not later than ninety (90) days after receipt of such a claim, the Claims Reviewer will render a written decision on the claim to the claimant, unless special circumstances
require the extension of such 90-day period. If such extension is necessary, the Claims Reviewer shall provide the Participant or the Participant’s beneficiary or beneficiaries with written notification of such extension before the expiration
of the initial 90-day period. Such notice shall specify the reason or reasons for the extension and the date by which a final decision can be expected. In no event shall such extension exceed a period of ninety (90) days from the end of the
initial 90-day period. 

  

	(c)	In the event the Claims Reviewer denies the claim of a Participant or any beneficiary in whole or in part, the Claims Reviewer’s written notification shall specify, in a manner
calculated to be understood by the claimant, the reason for the denial; a reference to the Plan or other document or form that is the basis for the denial; a description of any additional material or information necessary for the claimant to perfect
the claim; an explanation as to why such information or material is necessary; and an explanation of the applicable claims procedure. 

  

	(d)	Should the claim be denied in whole or in part and should the claimant be dissatisfied with the Claims Reviewer’s disposition of the claimant’s claim, the claimant may
have a full and fair review of the claim by the Committee upon written request submitted by the claimant or the claimant’s duly authorized representative and received by the Committee within sixty (60) days after the claimant receives
written notification that the claimant’s claim has been denied. In connection with such review, the claimant or the claimant’s duly authorized representative shall be entitled to review pertinent documents and submit the claimant’s
views as to the issues, in writing. The Committee shall act to deny or accept the claim within sixty (60) days after receipt of the claimant’s written request for review unless special circumstances require the extension of such 60-day
period. If such extension is necessary, the Committee shall provide the claimant with written notification of such extension before the expiration of such initial 60-day period. In all events, the Committee shall act to deny or accept the claim
within 120 days of the receipt of the claimant’s written request for review. The action of the Committee shall be in the form of a written notice to the claimant and its contents shall include all of the requirements for action on the original
claim. 

  

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	(e)	In no event may a claimant commence legal action for benefits the claimant believes are due the claimant until the claimant has exhausted all of the remedies and procedures afforded
the claimant by this Article VII. 

 ARTICLE VIII 
 AMENDMENT AND TERMINATION 
 Section 8.01 Amendment of the Plan. 

The Bank may from time to time and at any time amend the Plan; provided, however, that such amendment may not adversely affect the rights of any Participant or
beneficiary with respect to any benefit under the Plan to which the Participant or beneficiary may have previously become entitled prior to the effective date of such amendment without the consent of the Participant or beneficiary. The Committee
shall be authorized to make minor or administrative changes to the Plan, as well as amendments required by applicable federal or state law (or authorized or made desirable by such statutes); provided, however, that such amendments must subsequently
be ratified by the Board of Directors. 
 Section 8.02 Termination of the Plan. 
 The Bank may terminate the Plan at any time; provided, however, that such termination may not adversely affect the rights of any Participant or beneficiary with respect
to any benefit under the Plan to which the Participant or beneficiary may have previously become entitled prior to the effective date of such termination without the consent of the Participant or beneficiary. Any amounts credited to the supplemental
accounts of any Participant shall remain subject to the provisions of the Plan and no distribution of benefits shall be accelerated because of termination of the Plan. 
 ARTICLE IX 
 GENERAL PROVISIONS 
 Section 9.01 Unfunded, Unsecured Promise to Make Payments in the Future. 
 The right of a Participant or
any beneficiary to receive a distribution under this Plan shall be an unsecured claim against the general assets of the Bank or its Affiliates, and neither a Participant, nor his designated beneficiary or beneficiaries, shall have any rights in or
against any amount credited to any account under this Plan or any other assets of the Bank or an Affiliate. The Plan at all times shall be considered entirely unfunded both for tax purposes and for purposes of Title I of ERISA. Any funds invested
hereunder shall continue for all purposes to be part of the general assets of the Bank or an Affiliate and available to its general creditors in the event of bankruptcy or insolvency. Accounts under this Plan and any benefits which may be payable
pursuant to this Plan are not subject in any manner to anticipation, sale, alienation, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors of a Participant or a Participant’s beneficiary. The Plan constitutes a
mere promise by the Bank or Affiliate to make benefit payments in the future. No interest or right to receive a benefit may be taken, either voluntarily or involuntarily, for the satisfaction of the debts of, or other obligations or claims against,
such Participant or beneficiary, including claims for alimony, support, separate maintenance and claims in bankruptcy proceedings. 
 Section 9.02
Committee as Plan Administrator. 
  

	(a)	The Plan shall be administered by the Committee designated by the Board of Directors of the Bank. 

  

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	(b)	The Committee shall have the authority, duty and power to interpret and construe the provisions of the Plan as it deems appropriate. The Committee shall have the duty and
responsibility of maintaining records, making the requisite calculations and disbursing the payments hereunder. In addition, the Committee shall have the authority and power to delegate any of its administrative duties to employees of the Bank or an
Affiliate, as they may deem appropriate. The Committee shall be entitled to rely on all tables, valuations, certificates, opinions, data and reports furnished by any actuary, accountant, controller, counsel or other person employed or retained by
the Bank with respect to the Plan. The interpretations, determinations, regulations and calculations of the Committee shall be final and binding on all persons and parties concerned. 

 Section 9.03 Expenses. 
 Expenses of administration of the
Plan shall be paid by the Bank or an Affiliate. 
 Section 9.04 Statements. 
 The Committee shall furnish individual annual statements of accrued benefits to each Participant, or current beneficiary, in such form as determined by the Committee or as required by law. 
 Section 9.05 Rights of Participants and Beneficiaries. 
  

	(a)	The sole rights of a Participant or beneficiary under this Plan shall be to have this Plan administered according to its provisions and to receive whatever benefits he or she may be
entitled to hereunder. 

  

	(b)	Nothing in the Plan shall be interpreted as a guaranty that any funds in any trust which may be established in connection with the Plan or assets of the Bank or an Affiliate will be
sufficient to pay any benefit hereunder. 

  

	(c)	The adoption and maintenance of this Plan shall not be construed as creating any contract of employment or service between the Bank or an Affiliate and any Participant or other
individual. The Plan shall not affect the right of the Bank or an Affiliate to deal with any Participants in employment or service respects, including their hiring, discharge, compensation, and other conditions of employment or service.

 Section 9.06 Incompetent Individuals. 
 The Committee may, from time to time, establish rules and procedures which it determines to be necessary for the proper administration of the Plan and the benefits payable to a Participant or beneficiary in the event
that such Participant or beneficiary is declared incompetent and a conservator or other person is appointed and legally charged with that Participant’s or beneficiary’s care. Except as otherwise provided for herein, when the Committee
determines that such Participant or beneficiary is unable to manage his financial affairs, the Committee may pay such Participant’s or beneficiary’s benefits to such conservator, person legally charged with such Participant’s or
beneficiary’s care, or institution then contributing toward or providing for the care and maintenance of such Participant or beneficiary. Any such payment shall constitute a complete discharge of any liability of the Bank or an Affiliate and
the Plan for such Participant or beneficiary. 
  

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 Section 9.07 Sale, Merger or Consolidation of the Bank. 
 The Plan may be continued after a sale of assets of the Bank, or a merger or consolidation of the Bank into or with another corporation or entity only if, and to the
extent that, the transferee, purchaser or successor entity agrees to continue the Plan. Additionally, upon a merger, consolidation or other Change in Control, any amounts credited to Participant’s deferral accounts shall be placed in a grantor
trust to the extent not already in such a trust. In the event that the Plan is not continued by the transferee, purchaser or successor entity, then the Plan shall be terminated subject to the provisions of Section 8.02 of the Plan. Any legal
fees incurred by a Participant in determining benefits to which such Participant is entitled under the Plan following a sale, merger, or consolidation of the Bank or an Affiliate of which the Participant is an Employee or, if applicable, a member of
the Board of Directors, shall be paid by the resulting or succeeding entity. 
 Section 9.08 Location of Participants. 
 Each Participant shall keep the Bank informed of his current address and the current address of his designated beneficiary or beneficiaries. The Bank shall not be
obligated to search for any person. If such person is not located within three (3) years after the date on which payment of the Participant’s benefits payable under this Plan may first be made, payment may be made as though the Participant
or his beneficiary had died at the end of such three-year period. 
 Section 9.09 Liability of the Bank and its Affiliates. 
 Notwithstanding any provision herein to the contrary, neither the Bank nor any individual acting as an employee or agent of the Bank shall be liable to any Participant,
former Participant, beneficiary, or any other person for any claim, loss, liability or expense incurred in connection with the Plan, unless attributable to fraud or willful misconduct on the part of the Bank or any such employee or agent of the
Bank. 
 Section 9.10 Governing Law. 
 All
questions pertaining to the construction, validity and effect of the Plan shall be determined in accordance with the laws of the United States and, to the extent not preempted by such laws, by the laws of the State of Indiana. 
  

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 This Plan has been approved and adopted by the Board of Directors of the Bank and is effective as of January 1,
2008. 
  

							
	Attest:	 		 	FIRST SAVINGS BANK, F.S.B.
				
	  
	 		 	By:	 	  

  

 11Exhibit 10.9

 Exhibit 10.9 
 AMENDED AND RESTATED  
 DIRECTOR DEFERRED COMPENSATION AGREEMENT 
 This Amended and Restated Director Deferred Compensation Agreement (the “2005
Agreement”), effective as of the 1st day of January, 2005, by and between First Savings Bank, FSB (the “Bank”), a mutual savings Bank organized and existing under the laws of the State of Indiana, hereinafter referred to as
“Bank” and G.W. Clapp, Jr., hereinafter referred to as “Director”, for the purpose of formalizing the agreement between the Bank and the Director in which the Director defers receipt of fees under the terms and conditions
described below. The 2005 Agreement amends and restates the Director Deferred Compensation Agreement effective as of the 1st day of January, 2002 by
and between the parties (the “Prior Agreement”). It is intended that deferral under the Prior Agreement shall be subject to and governed by the provisions of this 2005 Agreement and shall be subject to the requirements of Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”) as those provisions apply to amounts deferred after December 31, 2004. 
 WITNESSETH: 
 WHEREAS, the Director serves the Bank as a member of the Board of Directors; and 
 WHEREAS, the Bank recognizes the valuable services heretofore performed for it by Director and wishes to encourage continued service; and

 WHEREAS, the Bank values the efforts, abilities and accomplishments of the Director and recognizes that Director’s services
will substantially contribute to its continued growth and profits in the future; and 
 WHEREAS, the Director wishes to defer a
certain portion of fees to be earned in the future; and 

 WHEREAS, the parties hereto desire to formalize the terms and conditions upon which the Bank shall
pay such deferred compensation to the Director or his designated beneficiary; and 
 WHEREAS, the parties hereto intend that this
Agreement be considered an unfunded arrangement, and the Director shall be considered an unsecured general creditor of the Bank with respect to amounts deferred or benefits payable hereunder; and 
 WHEREAS, the Bank has adopted this Director Deferred Compensation Agreement which controls all issues relating to the Deferred Compensation
Benefit as described herein; 
 NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties hereto agree to
the following terms and conditions: 
 ARTICLE I. 
 DEFINITIONS 
 When used herein, the following words and phrases shall have the meanings below unless the context
clearly indicates otherwise: 
  

	1.1	“Accrued Benefit” means the sum of all deferred amounts and interest credited monthly at a rate equal to the rate set forth in Section 4.4 to the Director’s
Retirement Account and due and owing to the Director or his Beneficiaries pursuant to this Agreement. 

  

	1.2	“Bank” means First Savings Bank, FSB and any successor thereto. 

  

	1.3	“Beneficiary” means the person or persons designated as Beneficiary in writing to the Bank to whom the share of a deceased Director’s account is payable. If no
Beneficiary is so designated, then the Director’s Spouse, if living, will be deemed the Beneficiary. If the Director’s Spouse is not living, then the Children of Director will be deemed the Beneficiaries and will take on a per stirpes
basis. If there are no living Children, then the Estate of the Director will be deemed the Beneficiary. 

  

	1.4	“Children” means the Director’s children, both natural and adopted, then living at the time payments are due the Children under this Agreement.

  

	1.5	“Deferral Period” means the period which commences on January 1, 2005 and extends until the commencement of benefit payments under this Agreement.

  

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	1.6	“Deferred Compensation Benefit” means the value of the Accrued Benefit payable for a one hundred eighty (180) month period using an interest rate equal to the rate
set forth in Section 4.4. Such period to begin at Director’s Normal Retirement Date. 

  

	1.7	“Disability Retirement Benefit” means the benefit payable to Director following a determination that he is disabled pursuant to Section 4.3. Said benefit shall be
payable monthly for a one hundred eighty (180) month period which, subject to the provisions of Section 4.3, shall begin not more than thirty (30) days following the above-mentioned disability determination. 

 

	1.8	“Effective Date” shall be the effective date of this Agreement, January 1, 2005. 

  

	1.9	“Estate” means the Estate of the Director. 

  

	1.10	“Normal Retirement Date” means the first day of the month following the Director’s seventieth (70) birthday. 

  

	1.11	“Payout Period” means the time frame in which certain benefits payable hereunder shall be distributed. Said benefits shall be paid in equal monthly installments commencing
on the first day of the month coincident with or next following the event giving rise to an entitlement to benefit payments hereunder and continuing for a period of one hundred eighty (180) months. 

  

	1.12	“Retirement Account” means book entries maintained by the Bank reflecting deferred amounts and credited with interest calculated and compounded monthly at a rate set forth
in Section 4.4; provided, however, that the existence of such book entries and the Retirement Account shall not create and shall not be deemed to create a trust of any kind, or a fiduciary relationship between the Bank and the Director, his
designated Beneficiary, or other Beneficiaries under this Agreement. Compensation shall be deferred when it is earned by the Director. 

  

	1.13	“Spouse” means the individual to whom the Director is legally married at the time of the Director’s death. 

  

	1.14	“Survivor’s Benefit” means the balance of the Retirement Account at the date of the Director’s death distributed in accordance with the provisions of this
agreement. 

 ARTICLE II. 
 DEFERRED COMPENSATION 
 Commencing on the Effective Date, and continuing through the end of the Deferral Period, the
Director and the Bank agree that the Director shall defer into his Retirement Account Director’s fees of $875.00 per meeting that the Director would otherwise be entitled to receive from the Bank during the Deferral Period. In the event the
Director desires to change his deferrals during the term of this Agreement, the Director shall have the option to change such amounts in whole or in part on an annual basis for the next succeeding calendar year, provided a Notice of Change 

  

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in Deferral (Exhibit B attached hereto) is filed with the Bank no less than thirty (30) days prior to the end of a calendar year preceding the year for
which the change is effective. If an election to defer a higher amount is made, the approval of the Board of Directors is required. The failure to timely notify the Bank of an election to change the deferrals shall prohibit the Director from making
any such change for the next succeeding calendar year. 
 ARTICLE III. 
 TERMINATION OF ELECTION 
 The
Director’s election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Bank a Notice of Discontinuance (Exhibit C attached hereto). A Notice of Discontinuance
shall be effective if filed at least five (5) days prior to any January 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st following its filing, whichever applies, and shall apply only with respect to the Director’s compensation attributable to services not yet performed. 
 ARTICLE IV. 
 RETIREMENT BENEFIT 
  

	4.1	Retirement Benefit. Provided Director has deferred all fees during the Deferral Period and subject to Sections 4.3, 5.1 or Article X of this Agreement, whichever is
applicable, the Bank agrees to pay the Deferred Compensation Benefit commencing upon the Director’s Normal Retirement Date or such other date as may be elected by the Director in accordance with the provisions of Article XI. Such payments will
be made over the Payout Period. 

  

	4.2	Continued Service Beyond Normal Retirement Date. Upon attainment of the Director’s Normal Retirement Date, payments of the Director’s Deferred Compensation Benefit
shall begin in accordance with Section 4.1, and all deferrals hereunder shall cease, notwithstanding his continued service on the Board of Directors. Payments under this Section 4.2 shall be made over the Payout Period.

  

	4.3	Disability Retirement Benefit. Notwithstanding any other provision hereof, if approved by the other members of the Board of Directors, the Director shall be entitled to
receive payments hereunder prior to his Normal Retirement Date, in any case in which it is determined by a duly licensed physician selected by the Bank that, because of a disability, the Director is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to last for a continuous period of not less than 12 months. If the Director is disabled pursuant to this paragraph, the Director shall begin
receiving payments of his Disability Retirement Benefit. In the event the Director dies before the Director’s entire Disability Retirement Benefit is paid pursuant to this Section 4.3, the remainder of the Director’s Disability
Retirement Benefit shall be paid to Director’s Beneficiary as a single sum cash payment. This payment shall discharge the Bank’s obligation under this Agreement. 

  

 4 

	4.4	Adjustable Interest Rate. For purposes of Sections 1.1, 1.6, 1.12 and 13.9, the interest rate shall be adjusted as of the first day of each calendar quarter and shall be
equal to the per annum “prime rate” as published in the Wall Street Journal on the last business day of the immediately preceding calendar quarter plus 2%; provided, however, that in no event shall such interest rate exceed 8.0% per
annum. 

 ARTICLE V. 
 DEATH BENEFITS 
  

	5.1	Death Benefit Prior to Commencement of Retirement Benefits. In the event of the Director’s death while in the service of the Bank and prior to commencement of the
Deferred Compensation Benefit, the Bank shall pay a Survivor’s Benefit consisting of the Director’s Accrued Benefit as a single sum cash payment. 

  

	5.2	Death Benefit After Commencement of Benefits. In the event of Director’s death after the commencement of the Deferred Compensation Benefit or Disability Retirement
Benefit, but prior to the completion of all such payments due and owing hereunder, the Bank shall pay to Director’s Beneficiary the Survivor’s Benefit as a single sum cash payment, which in this event shall be the Director’s remaining
Deferred Compensation Benefit or Disability Retirement Benefit, as the case may be, less payments made prior to the Director’s death. 

 ARTICLE VI. 
 OFFSET FOR OBLIGATIONS TO BANK 
 If, at such time as the Director becomes entitled to benefit payments hereunder, the Director has any debt, obligation or other liability representing an amount owing to
the Bank, and if such debt, obligation or other liability is due and owing at the time benefit payments are payable hereunder, the Bank may offset the amount owing it against the amount of benefits otherwise distributable hereunder. 
 ARTICLE VII. 
 BENEFICIARY
DESIGNATION 
 The Director shall have the right, at any time, to submit in substantially the form attached hereto as Exhibit A, a written designation of
primary and secondary beneficiaries to whom payment under this Agreement shall be made in the event of his death prior to complete distribution of the benefits due and payable under the Agreement. Each beneficiary designation shall become effective
only when receipt thereof is acknowledged in writing by the Bank. 
  

 5 

 ARTICLE VIII. 
 DIRECTOR’S RIGHT TO ASSETS 
 The rights of the Director, any Beneficiary, or any other person claiming through
the Director under this Agreement, shall be solely those of an unsecured general creditor of the Bank. The Director, the Beneficiary, or any other person claiming through the Director, shall only have the right to receive from the Bank those
payments as specified under this Agreement. The Director agrees that he, his Beneficiary, or any other person claiming through him shall have no rights or interests whatsoever in any asset of the Bank, including any insurance policies or contracts
which the Bank may possess or obtain to informally fund this Agreement. Any asset used or acquired by the Bank in connection with the liabilities it has assumed under this Agreement, except as expressly provided, shall not be deemed to be held under
any trust for the benefit of the Director or his Beneficiaries, nor shall it be considered security for the performance of the obligations of the Bank. It shall be, and remain, a general, unpledged, and unrestricted asset of the Bank. 
 ARTICLE IX. 
 RESTRICTIONS UPON
FUNDING 
 Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The
Director, his Beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Bank reserves the
absolute right at its sole discretion to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, and method of such informal funding. Should the Bank elect to fund this
Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part.
At no time shall Director be deemed to have any lien, nor right, title or interest in or to any specific funding investment or to any assets of the Bank. If the Bank elects to invest in a life insurance, disability or annuity policy upon the life of
the Director, then Director shall assist the Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities. 
 ARTICLE X. 
 PAYMENT UPON TERMINATION OF SERVICE 
 If the Director terminates service prior to Normal Retirement Date, benefit payments over the Payout Period shall be made to the Director, based on the Accrued Benefit
at the date such payout begins. Such payments shall begin as soon as administratively practicable following the Director’s termination of service except as may be provided pursuant to Article XI. 
  

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 ARTICLE XI. 
 CHANGE OF DISTRIBUTION ELECTION 
 A Director may change the commencement date of his or her distribution with respect
to his or her Retirement Account at any time; provided, however, that [i] such election shall not take effect until at least twelve (12) months after the date in which the election is made, [ii] no change may be made less than twelve
(12) months prior to the date of the first scheduled payment specified under the Plan at the date of the deferral of the Director’s fees, and [iii] with respect to a payment that is not the result of death, disability (as defined in
Section 4.3), the payment with respect to which such change is made must be deferred for a period of not less than five (5) years from the date such payment would otherwise have been made. Any change of distribution election which does not
meet the foregoing requirements shall be disregarded. 
 ARTICLE XII. 
 ALIENABILITY AND ASSIGNMENT PROHIBITION 
 Neither Director nor any Beneficiary under this
Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the
payment of any debts, judgments, alimony or separate maintenance owed by the Director or his Beneficiary, nor be transferable by operation of law in the event of bankruptcy, insolvency or otherwise. In the event Director or any Beneficiary attempts
assignment, communication, hypothecation, transfer or disposal of the benefits hereunder, the Bank’s liabilities shall forthwith cease and terminate. 
 ARTICLE XIII. 
 CLAIMS PROCEDURE 
 Claims Procedure And Arbitration. In the event that benefits under this Agreement are not paid to the Director (or to his Beneficiary in the case of the Director’s death) and such claimants feel they are
entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Bank and its Board shall review the written claim and, if the claim is denied, in whole or
in part, they shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or
information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. 
 If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the Agreement or any documents relating thereto and
submit any written issues and comments they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall
likewise state the specific reasons for the decision and shall include reference to specific provisions of the Agreement upon which the decision is based. 
  

 7 

 If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and
effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant, one member selected by the Bank, and the third member
selected by the first two members. The Board shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision
of such Board with respect to any controversy properly submitted to it for determination. 
 ARTICLE XIV. 
 MISCELLANEOUS 
  

	14.1	No Effect on Directorship Rights. Nothing contained herein will confer upon the Director the right to be retained in the service of the Bank nor limit the right of the Bank
to discharge or otherwise deal with Director without regard to the existence of the Agreement. 

  

	14.2	State Law. The Agreement is established under, and will be construed according to, the laws of the State of Indiana, to the extent that such laws are not preempted by the Act
and valid regulations published thereunder. 

  

	14.3	Severability. In the event that any of the provisions of this Agreement or portion thereof, are held to be inoperative or invalid by any court of competent jurisdiction,
then: (1) insofar as is reasonable, effect will be given to the intent manifested in the provisions held invalid or inoperative, and (2) the validity and enforceability of the remaining provisions will not be affected thereby.

  

	14.4	Incapacity of Recipient. In the event Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate is
appointed, any benefits under the Agreement to which such Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estate. Except as provided above in this paragraph, when the
Bank’s Board of Directors, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Bank to make distributions to any person for the benefit of the Director.

  

	14.5	Unclaimed Benefit. The Director shall keep the Bank informed of his current address and the current address of his Beneficiaries. The Bank shall not be obligated to search
for the whereabouts of any person. If the location of the Director is not made known to the Bank within three (3) years after the date on which any payment of the Deferred Compensation Benefit may be made, payment may be made as though the
Director had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Director, the Bank is unable to
locate any Beneficiary of the Director, then the Bank may fully discharge its obligation by payment to the Estate. 

  

 8 

	14.6	Limitations on Liability. Notwithstanding any of the preceding provisions of the Agreement, neither the Bank, nor any individual acting as an employee or agent of the Bank,
or as a member of the Board of Directors shall be liable to the Director or any other person for any claim, loss, liability or expense incurred in connection with the Agreement. 

  

	14.7	Gender. Whenever in this Agreement words are used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter gender, whenever
they should so apply. 

  

	14.8	Affect on Other Corporate Benefit Agreements. Nothing contained in this Agreement shall affect the right of the Director to participate in or be covered by any qualified or
non-qualified pension, profit sharing, group, bonus or other supplemental compensation or fringe benefit agreement constituting a part of the Bank’s existing or future compensation structure. 

  

	14.9	Headings. Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall not be deemed a part of this Agreement.

 ARTICLE XV. 
 AMENDMENT AND TERMINATION 
  

	15.1	Amendment or Termination. The Bank intends the Agreement to be permanent, but reserves the right to amend or terminate the Agreement when, in the sole opinion of the Bank,
such amendment or termination is advisable. Any such amendment or termination shall be made pursuant to a resolution of the Board of Directors of the Bank and shall be effective as of the date of such resolution. No amendment or termination of the
Agreement shall directly or indirectly deprive the Director of all or any portion of the Deferred Compensation Benefit payment which has commenced prior to the effective date of the resolution amending or terminating the Agreement.

  

	15.2	No Acceleration. In the event the Agreement is terminated, any amounts credited to the Director’s Retirement Account shall remain subject to the provisions of this
Agreement and distribution may not be accelerated because of the termination except as may be permitted pursuant to regulations or other guidelines issued under Code §409A. 

 ARTICLE XVI. 
 EXECUTION 
  

	16.1	This Agreement sets forth the entire understanding of the parties hereto with respect to the transactions contemplated hereby, and any previous agreements or understandings between
the parties hereto regarding the subject matter hereof are merged into and superseded by this Agreement. 

  

 9 

	16.2	This Agreement shall be executed in duplicate, each copy of which, when so executed and delivered, shall be an original, but both copies shall together constitute one and the same
instrument. 

 IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed on this 12th day of April, 2006. 
  

			
	 /s/ Gerald W. Clapp, Jr.

	Director
	
	FIRST SAVINGS BANK, FSB
		
	By:	 	 /s/ R. David Eckerty

  

 10 

 AMENDED AND RESTATED  
 DIRECTOR DEFERRED COMPENSATION AGREEMENT 
 This Amended and Restated Director Deferred Compensation Agreement (the “2005 Agreement”), effective as of the 1st day of January, 2005, by and between First Savings Bank, FSB (the “Bank”), a
mutual savings Bank organized and existing under the laws of the State of Indiana, hereinafter referred to as “Bank” and Robert E. Libs, hereinafter referred to as “Director”, for the purpose of formalizing the agreement between
the Bank and the Director in which the Director defers receipt of fees under the terms and conditions described below. The 2005 Agreement amends and restates the Director Deferred Compensation Agreement effective as of the 1st day of January, 2002 by and between the parties (the “Prior Agreement”). It is intended that deferral under the Prior Agreement shall be subject to
and governed by the provisions of this 2005 Agreement and shall be subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) as those provisions apply to amounts deferred after
December 31, 2004. 
 WITNESSETH: 
 WHEREAS, the Director serves the Bank as a member of the Board of Directors; and 
 WHEREAS,
the Bank recognizes the valuable services heretofore performed for it by Director and wishes to encourage continued service; and 
 WHEREAS, the Bank values the efforts, abilities and accomplishments of the Director and recognizes that Director’s services will substantially contribute to its continued growth and profits in the future; and 
 WHEREAS, the Director wishes to defer a certain portion of fees to be earned in the future; and 

 WHEREAS, the parties hereto desire to formalize the terms and conditions upon which the Bank shall
pay such deferred compensation to the Director or his designated beneficiary; and 
 WHEREAS, the parties hereto intend that this
Agreement be considered an unfunded arrangement, and the Director shall be considered an unsecured general creditor of the Bank with respect to amounts deferred or benefits payable hereunder; and 
 WHEREAS, the Bank has adopted this Director Deferred Compensation Agreement which controls all issues relating to the Deferred Compensation
Benefit as described herein; 
 NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties hereto agree to
the following terms and conditions: 
 ARTICLE I. 
 DEFINITIONS 
 When used herein, the following words and phrases shall have the meanings below unless the context
clearly indicates otherwise: 
  

	1.1	“Accrued Benefit” means the sum of all deferred amounts and interest credited monthly at a rate equal to the rate set forth in Section 4.4 to the Director’s
Retirement Account and due and owing to the Director or his Beneficiaries pursuant to this Agreement. 

  

	1.2	“Bank” means First Savings Bank, FSB and any successor thereto. 

  

	1.3	“Beneficiary” means the person or persons designated as Beneficiary in writing to the Bank to whom the share of a deceased Director’s account is payable. If no
Beneficiary is so designated, then the Director’s Spouse, if living, will be deemed the Beneficiary. If the Director’s Spouse is not living, then the Children of Director will be deemed the Beneficiaries and will take on a per stirpes
basis. If there are no living Children, then the Estate of the Director will be deemed the Beneficiary. 

  

	1.4	“Children” means the Director’s children, both natural and adopted, then living at the time payments are due the Children under this Agreement.

  

	1.5	“Deferral Period” means the period which commences on January 1, 2005 and extends until the commencement of benefit payments under this Agreement.

  

 2 

	1.6	“Deferred Compensation Benefit” means the value of the Accrued Benefit payable for a one hundred eighty (180) month period using an interest rate equal to the rate
set forth in Section 4.4. Such period to begin at Director’s Normal Retirement Date. 

  

	1.7	“Disability Retirement Benefit” means the benefit payable to Director following a determination that he is disabled pursuant to Section 4.3. Said benefit shall be
payable monthly for a one hundred eighty (180) month period which, subject to the provisions of Section 4.3, shall begin not more than thirty (30) days following the above-mentioned disability determination. 

 

	1.8	“Effective Date” shall be the effective date of this Agreement, January 1, 2005. 

  

	1.9	“Estate” means the Estate of the Director. 

  

	1.10	“Normal Retirement Date” means the first day of the month following the Director’s seventieth (70) birthday. 

  

	1.11	“Payout Period” means the time frame in which certain benefits payable hereunder shall be distributed. Said benefits shall be paid in equal monthly installments commencing
on the first day of the month coincident with or next following the event giving rise to an entitlement to benefit payments hereunder and continuing for a period of one hundred eighty (180) months. 

  

	1.12	“Retirement Account” means book entries maintained by the Bank reflecting deferred amounts and credited with interest calculated and compounded monthly at a rate set forth
in Section 4.4; provided, however, that the existence of such book entries and the Retirement Account shall not create and shall not be deemed to create a trust of any kind, or a fiduciary relationship between the Bank and the Director, his
designated Beneficiary, or other Beneficiaries under this Agreement. Compensation shall be deferred when it is earned by the Director. 

  

	1.13	“Spouse” means the individual to whom the Director is legally married at the time of the Director’s death. 

  

	1.14	“Survivor’s Benefit” means the balance of the Retirement Account at the date of the Director’s death distributed in accordance with the provisions of this
agreement. 

 ARTICLE II. 
 DEFERRED COMPENSATION 
 Commencing on the Effective Date, and continuing through the end of the Deferral Period, the
Director and the Bank agree that the Director shall defer into his Retirement Account Director’s fees of $450.00 per meeting that the Director would otherwise be entitled to receive from the Bank during the Deferral Period. In the event the
Director desires to change his deferrals during the term of this Agreement, the Director shall have the option to change such amounts in whole or in part on an annual basis for the next succeeding calendar year, provided a Notice of Change 

  

 3 

 
in Deferral (Exhibit B attached hereto) is filed with the Bank no less than thirty (30) days prior to the end of a calendar year preceding the year for
which the change is effective. If an election to defer a higher amount is made, the approval of the Board of Directors is required. The failure to timely notify the Bank of an election to change the deferrals shall prohibit the Director from making
any such change for the next succeeding calendar year. 
 ARTICLE III. 
 TERMINATION OF ELECTION 
 The
Director’s election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Bank a Notice of Discontinuance (Exhibit C attached hereto). A Notice of Discontinuance
shall be effective if filed at least five (5) days prior to any January 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st following its filing, whichever applies, and shall apply only with respect to the Director’s compensation attributable to services not yet performed. 
 ARTICLE IV. 
 RETIREMENT BENEFIT 
  

	4.1	Retirement Benefit. Provided Director has deferred all fees during the Deferral Period and subject to Sections 4.3, 5.1 or Article X of this Agreement, whichever is
applicable, the Bank agrees to pay the Deferred Compensation Benefit commencing upon the Director’s Normal Retirement Date or such other date as may be elected by the Director in accordance with the provisions of Article XI. Such payments will
be made over the Payout Period. 

  

	4.2	Continued Service Beyond Normal Retirement Date. Upon attainment of the Director’s Normal Retirement Date, payments of the Director’s Deferred Compensation Benefit
shall begin in accordance with Section 4.1, and all deferrals hereunder shall cease, notwithstanding his continued service on the Board of Directors. Payments under this Section 4.2 shall be made over the Payout Period.

  

	4.3	Disability Retirement Benefit. Notwithstanding any other provision hereof, if approved by the other members of the Board of Directors, the Director shall be entitled to
receive payments hereunder prior to his Normal Retirement Date, in any case in which it is determined by a duly licensed physician selected by the Bank that, because of a disability, the Director is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to last for a continuous period of not less than 12 months. If the Director is disabled pursuant to this paragraph, the Director shall begin
receiving payments of his Disability Retirement Benefit. In the event the Director dies before the Director’s entire Disability Retirement Benefit is paid pursuant to this Section 4.3, the remainder of the Director’s Disability
Retirement Benefit shall be paid to Director’s Beneficiary as a single sum cash payment. This payment shall discharge the Bank’s obligation under this Agreement. 

  

 4 

	4.4	Adjustable Interest Rate. For purposes of Sections 1.1, 1.6, 1.12 and 13.9, the interest rate shall be adjusted as of the first day of each calendar quarter and shall be
equal to the per annum “prime rate” as published in the Wall Street Journal on the last business day of the immediately preceding calendar quarter plus 2%; provided, however, that in no event shall such interest rate exceed 8.0% per
annum. 

 ARTICLE V. 
 DEATH BENEFITS 
  

	5.1	Death Benefit Prior to Commencement of Retirement Benefits. In the event of the Director’s death while in the service of the Bank and prior to commencement of the
Deferred Compensation Benefit, the Bank shall pay a Survivor’s Benefit consisting of the Director’s Accrued Benefit as a single sum cash payment. 

  

	5.2	Death Benefit After Commencement of Benefits. In the event of Director’s death after the commencement of the Deferred Compensation Benefit or Disability Retirement
Benefit, but prior to the completion of all such payments due and owing hereunder, the Bank shall pay to Director’s Beneficiary the Survivor’s Benefit as a single sum cash payment, which in this event shall be the Director’s remaining
Deferred Compensation Benefit or Disability Retirement Benefit, as the case may be, less payments made prior to the Director’s death. 

 ARTICLE VI. 
 OFFSET FOR OBLIGATIONS TO BANK 
 If, at such time as the Director becomes entitled to benefit payments hereunder, the Director has any debt, obligation or other liability representing an amount owing to
the Bank, and if such debt, obligation or other liability is due and owing at the time benefit payments are payable hereunder, the Bank may offset the amount owing it against the amount of benefits otherwise distributable hereunder. 
 ARTICLE VII. 
 BENEFICIARY
DESIGNATION 
 The Director shall have the right, at any time, to submit in substantially the form attached hereto as Exhibit A, a written designation of
primary and secondary beneficiaries to whom payment under this Agreement shall be made in the event of his death prior to complete distribution of the benefits due and payable under the Agreement. Each beneficiary designation shall become effective
only when receipt thereof is acknowledged in writing by the Bank. 
  

 5 

 ARTICLE VIII. 
 DIRECTOR’S RIGHT TO ASSETS 
 The rights of the Director, any Beneficiary, or any other person claiming through
the Director under this Agreement, shall be solely those of an unsecured general creditor of the Bank. The Director, the Beneficiary, or any other person claiming through the Director, shall only have the right to receive from the Bank those
payments as specified under this Agreement. The Director agrees that he, his Beneficiary, or any other person claiming through him shall have no rights or interests whatsoever in any asset of the Bank, including any insurance policies or contracts
which the Bank may possess or obtain to informally fund this Agreement. Any asset used or acquired by the Bank in connection with the liabilities it has assumed under this Agreement, except as expressly provided, shall not be deemed to be held under
any trust for the benefit of the Director or his Beneficiaries, nor shall it be considered security for the performance of the obligations of the Bank. It shall be, and remain, a general, unpledged, and unrestricted asset of the Bank. 
 ARTICLE IX. 
 RESTRICTIONS UPON
FUNDING 
 Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The
Director, his Beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Bank reserves the
absolute right at its sole discretion to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, and method of such informal funding. Should the Bank elect to fund this
Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part.
At no time shall Director be deemed to have any lien, nor right, title or interest in or to any specific funding investment or to any assets of the Bank. If the Bank elects to invest in a life insurance, disability or annuity policy upon the life of
the Director, then Director shall assist the Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities. 
 ARTICLE X. 
 PAYMENT UPON TERMINATION OF SERVICE 
 If the Director terminates service prior to Normal Retirement Date, benefit payments over the Payout Period shall be made to the Director, based on the Accrued Benefit
at the date such payout begins. Such payments shall begin as soon as administratively practicable following the Director’s termination of service except as may be provided pursuant to Article XI. 
  

 6 

 ARTICLE XI. 
 CHANGE OF DISTRIBUTION ELECTION 
 A Director may change the commencement date of his or her distribution with respect
to his or her Retirement Account at any time; provided, however, that [i] such election shall not take effect until at least twelve (12) months after the date in which the election is made, [ii] no change may be made less than twelve
(12) months prior to the date of the first scheduled payment specified under the Plan at the date of the deferral of the Director’s fees, and [iii] with respect to a payment that is not the result of death, disability (as defined in
Section 4.3), the payment with respect to which such change is made must be deferred for a period of not less than five (5) years from the date such payment would otherwise have been made. Any change of distribution election which does not
meet the foregoing requirements shall be disregarded. 
 ARTICLE XII. 
 ALIENABILITY AND ASSIGNMENT PROHIBITION 
 Neither Director nor any Beneficiary under this
Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the
payment of any debts, judgments, alimony or separate maintenance owed by the Director or his Beneficiary, nor be transferable by operation of law in the event of bankruptcy, insolvency or otherwise. In the event Director or any Beneficiary attempts
assignment, communication, hypothecation, transfer or disposal of the benefits hereunder, the Bank’s liabilities shall forthwith cease and terminate. 
 ARTICLE XIII. 
 CLAIMS PROCEDURE 
 Claims Procedure And Arbitration. In the event that benefits under this Agreement are not paid to the Director (or to his Beneficiary in the case of the Director’s death) and such claimants feel they are
entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Bank and its Board shall review the written claim and, if the claim is denied, in whole or
in part, they shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or
information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. 
 If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the Agreement or any documents relating thereto and
submit any written issues and comments they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall
likewise state the specific reasons for the decision and shall include reference to specific provisions of the Agreement upon which the decision is based. 
  

 7 

 If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and
effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant, one member selected by the Bank, and the third member
selected by the first two members. The Board shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision
of such Board with respect to any controversy properly submitted to it for determination. 
 ARTICLE XIV. 
 MISCELLANEOUS 
  

	14.1	No Effect on Directorship Rights. Nothing contained herein will confer upon the Director the right to be retained in the service of the Bank nor limit the right of the Bank
to discharge or otherwise deal with Director without regard to the existence of the Agreement. 

  

	14.2	State Law. The Agreement is established under, and will be construed according to, the laws of the State of Indiana, to the extent that such laws are not preempted by the Act
and valid regulations published thereunder. 

  

	14.3	Severability. In the event that any of the provisions of this Agreement or portion thereof, are held to be inoperative or invalid by any court of competent jurisdiction,
then: (1) insofar as is reasonable, effect will be given to the intent manifested in the provisions held invalid or inoperative, and (2) the validity and enforceability of the remaining provisions will not be affected thereby.

  

	14.4	Incapacity of Recipient. In the event Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate is
appointed, any benefits under the Agreement to which such Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estate. Except as provided above in this paragraph, when the
Bank’s Board of Directors, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Bank to make distributions to any person for the benefit of the Director.

  

	14.5	Unclaimed Benefit. The Director shall keep the Bank informed of his current address and the current address of his Beneficiaries. The Bank shall not be obligated to search
for the whereabouts of any person. If the location of the Director is not made known to the Bank within three (3) years after the date on which any payment of the Deferred Compensation Benefit may be made, payment may be made as though the
Director had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Director, the Bank is unable to
locate any Beneficiary of the Director, then the Bank may fully discharge its obligation by payment to the Estate. 

  

 8 

	14.6	Limitations on Liability. Notwithstanding any of the preceding provisions of the Agreement, neither the Bank, nor any individual acting as an employee or agent of the Bank,
or as a member of the Board of Directors shall be liable to the Director or any other person for any claim, loss, liability or expense incurred in connection with the Agreement. 

  

	14.7	Gender. Whenever in this Agreement words are used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter gender, whenever
they should so apply. 

  

	14.8	Affect on Other Corporate Benefit Agreements. Nothing contained in this Agreement shall affect the right of the Director to participate in or be covered by any qualified or
non-qualified pension, profit sharing, group, bonus or other supplemental compensation or fringe benefit agreement constituting a part of the Bank’s existing or future compensation structure. 

  

	14.9	Headings. Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall not be deemed a part of this Agreement.

 ARTICLE XV. 
 AMENDMENT AND TERMINATION 
  

	15.1	Amendment or Termination. The Bank intends the Agreement to be permanent, but reserves the right to amend or terminate the Agreement when, in the sole opinion of the Bank,
such amendment or termination is advisable. Any such amendment or termination shall be made pursuant to a resolution of the Board of Directors of the Bank and shall be effective as of the date of such resolution. No amendment or termination of the
Agreement shall directly or indirectly deprive the Director of all or any portion of the Deferred Compensation Benefit payment which has commenced prior to the effective date of the resolution amending or terminating the Agreement.

  

	15.2	No Acceleration. In the event the Agreement is terminated, any amounts credited to the Director’s Retirement Account shall remain subject to the provisions of this
Agreement and distribution may not be accelerated because of the termination except as may be permitted pursuant to regulations or other guidelines issued under Code §409A. 

 ARTICLE XVI. 
 EXECUTION 
  

	16.1	This Agreement sets forth the entire understanding of the parties hereto with respect to the transactions contemplated hereby, and any previous agreements or understandings between
the parties hereto regarding the subject matter hereof are merged into and superseded by this Agreement. 

  

 9 

	16.2	This Agreement shall be executed in duplicate, each copy of which, when so executed and delivered, shall be an original, but both copies shall together constitute one and the same
instrument. 

 IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed on this 12th day of April, 2006. 
  

			
	 /s/ Robert E. Libs

	Director
	
	FIRST SAVINGS BANK, FSB
		
	By:	 	 /s/ R. David Eckerty

  

 10 

 AMENDED AND RESTATED 
 DIRECTOR DEFERRED COMPENSATION AGREEMENT 
 This Amended and Restated Director Deferred Compensation Agreement (the “2005 Agreement”), effective as of the 1st day of January, 2005, by and between First Savings Bank, FSB (the “Bank”), a mutual savings Bank
organized and existing under the laws of the State of Indiana, hereinafter referred to as “Bank” and Michael F. Ludden, hereinafter referred to as “Director”, for the purpose of formalizing the agreement between the Bank and the
Director in which the Director defers receipt of fees under the terms and conditions described below. The 2005 Agreement amends and restates the Director Deferred Compensation Agreement effective as of the 1st day of January, 2002 by and between the parties (the “Prior Agreement”). It is intended that deferral under the Prior Agreement shall be subject to and governed by the
provisions of this 2005 Agreement and shall be subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) as those provisions apply to amounts deferred after December 31, 2004.

 WITNESSETH: 
 WHEREAS, the Director serves the Bank as a member of the Board of Directors; and 
 WHEREAS, the Bank recognizes the
valuable services heretofore performed for it by Director and wishes to encourage continued service; and 
 WHEREAS, the Bank values
the efforts, abilities and accomplishments of the Director and recognizes that Director’s services will substantially contribute to its continued growth and profits in the future; and 
 WHEREAS, the Director wishes to defer a certain portion of fees to be earned in the future; and 

 WHEREAS, the parties hereto desire to formalize the terms and conditions upon which the Bank shall
pay such deferred compensation to the Director or his designated beneficiary; and 
 WHEREAS, the parties hereto intend that this
Agreement be considered an unfunded arrangement, and the Director shall be considered an unsecured general creditor of the Bank with respect to amounts deferred or benefits payable hereunder; and 
 WHEREAS, the Bank has adopted this Director Deferred Compensation Agreement which controls all issues relating to the Deferred Compensation
Benefit as described herein; 
 NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties hereto agree to
the following terms and conditions: 
 ARTICLE I. 
 DEFINITIONS 
 When used herein, the following words and phrases shall have the meanings below unless the context
clearly indicates otherwise: 
  

	1.1	“Accrued Benefit” means the sum of all deferred amounts and interest credited monthly at a rate equal to the rate set forth in Section 4.4 to the Director’s
Retirement Account and due and owing to the Director or his Beneficiaries pursuant to this Agreement. 

  

	1.2	“Bank” means First Savings Bank, FSB and any successor thereto. 

  

	1.3	“Beneficiary” means the person or persons designated as Beneficiary in writing to the Bank to whom the share of a deceased Director’s account is payable. If no
Beneficiary is so designated, then the Director’s Spouse, if living, will be deemed the Beneficiary. If the Director’s Spouse is not living, then the Children of Director will be deemed the Beneficiaries and will take on a per stirpes
basis. If there are no living Children, then the Estate of the Director will be deemed the Beneficiary. 

  

	1.4	“Children” means the Director’s children, both natural and adopted, then living at the time payments are due the Children under this Agreement.

  

	1.5	“Deferral Period” means the period which commences on January 1, 2005 and extends until the commencement of benefit payments under this Agreement.

  

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	1.6	“Deferred Compensation Benefit” means the value of the Accrued Benefit payable for a one hundred eighty (180) month period using an interest rate equal to the rate
set forth in Section 4.4. Such period to begin at Director’s Normal Retirement Date. 

  

	1.7	“Disability Retirement Benefit” means the benefit payable to Director following a determination that he is disabled pursuant to Section 4.3. Said benefit shall be
payable monthly for a one hundred eighty (180) month period which, subject to the provisions of Section 4.3, shall begin not more than thirty (30) days following the above-mentioned disability determination. 

 

	1.8	“Effective Date” shall be the effective date of this Agreement, January 1, 2005. 

  

	1.9	“Estate” means the Estate of the Director. 

  

	1.10	“Normal Retirement Date” means the first day of the month following the Director’s seventieth (70) birthday. 

  

	1.11	“Payout Period” means the time frame in which certain benefits payable hereunder shall be distributed. Said benefits shall be paid in equal monthly installments commencing
on the first day of the month coincident with or next following the event giving rise to an entitlement to benefit payments hereunder and continuing for a period of one hundred eighty (180) months. 

  

	1.12	“Retirement Account” means book entries maintained by the Bank reflecting deferred amounts and credited with interest calculated and compounded monthly at a rate set forth
in Section 4.4; provided, however, that the existence of such book entries and the Retirement Account shall not create and shall not be deemed to create a trust of any kind, or a fiduciary relationship between the Bank and the Director, his
designated Beneficiary, or other Beneficiaries under this Agreement. Compensation shall be deferred when it is earned by the Director. 

  

	1.13	“Spouse” means the individual to whom the Director is legally married at the time of the Director’s death. 

  

	1.14	“Survivor’s Benefit” means the balance of the Retirement Account at the date of the Director’s death distributed in accordance with the provisions of this
agreement. 

 ARTICLE II. 
 DEFERRED COMPENSATION 
 Commencing on the Effective Date, and continuing through the end of the Deferral Period, the
Director and the Bank agree that the Director shall defer into his Retirement Account Director’s fees of $875.00 per meeting that the Director would otherwise be entitled to receive from the Bank during the Deferral Period. In the event the
Director desires to change his deferrals during the term of this Agreement, the Director shall have the option to change such amounts in whole or in part on an annual basis for the next succeeding calendar year, provided a Notice of Change 

  

 3 

 
in Deferral (Exhibit B attached hereto) is filed with the Bank no less than thirty (30) days prior to the end of a calendar year preceding the year for
which the change is effective. If an election to defer a higher amount is made, the approval of the Board of Directors is required. The failure to timely notify the Bank of an election to change the deferrals shall prohibit the Director from making
any such change for the next succeeding calendar year. 
 ARTICLE III. 
 TERMINATION OF ELECTION 
 The
Director’s election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Bank a Notice of Discontinuance (Exhibit C attached hereto). A Notice of Discontinuance
shall be effective if filed at least five (5) days prior to any January 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st following its filing, whichever applies, and shall apply only with respect to the Director’s compensation attributable to services not yet performed. 
 ARTICLE IV. 
 RETIREMENT BENEFIT 
  

	4.1	Retirement Benefit. Provided Director has deferred all fees during the Deferral Period and subject to Sections 4.3, 5.1 or Article X of this Agreement, whichever is
applicable, the Bank agrees to pay the Deferred Compensation Benefit commencing upon the Director’s Normal Retirement Date or such other date as may be elected by the Director in accordance with the provisions of Article XI. Such payments will
be made over the Payout Period. 

  

	4.2	Continued Service Beyond Normal Retirement Date. Upon attainment of the Director’s Normal Retirement Date, payments of the Director’s Deferred Compensation Benefit
shall begin in accordance with Section 4.1, and all deferrals hereunder shall cease, notwithstanding his continued service on the Board of Directors. Payments under this Section 4.2 shall be made over the Payout Period.

  

	4.3	Disability Retirement Benefit. Notwithstanding any other provision hereof, if approved by the other members of the Board of Directors, the Director shall be entitled to
receive payments hereunder prior to his Normal Retirement Date, in any case in which it is determined by a duly licensed physician selected by the Bank that, because of a disability, the Director is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to last for a continuous period of not less than 12 months. If the Director is disabled pursuant to this paragraph, the Director shall begin
receiving payments of his Disability Retirement Benefit. In the event the Director dies before the Director’s entire Disability Retirement Benefit is paid pursuant to this Section 4.3, the remainder of the Director’s Disability
Retirement Benefit shall be paid to Director’s Beneficiary as a single sum cash payment. This payment shall discharge the Bank’s obligation under this Agreement. 

  

 4 

	4.4	Adjustable Interest Rate. For purposes of Sections 1.1, 1.6, 1.12 and 13.9, the interest rate shall be adjusted as of the first day of each calendar quarter and shall be
equal to the per annum “prime rate” as published in the Wall Street Journal on the last business day of the immediately preceding calendar quarter plus 2%; provided, however, that in no event shall such interest rate exceed 8.0% per
annum. 

 ARTICLE V. 
 DEATH BENEFITS 
  

	5.1	Death Benefit Prior to Commencement of Retirement Benefits. In the event of the Director’s death while in the service of the Bank and prior to commencement of the
Deferred Compensation Benefit, the Bank shall pay a Survivor’s Benefit consisting of the Director’s Accrued Benefit as a single sum cash payment. 

  

	5.2	Death Benefit After Commencement of Benefits. In the event of Director’s death after the commencement of the Deferred Compensation Benefit or Disability Retirement
Benefit, but prior to the completion of all such payments due and owing hereunder, the Bank shall pay to Director’s Beneficiary the Survivor’s Benefit as a single sum cash payment, which in this event shall be the Director’s remaining
Deferred Compensation Benefit or Disability Retirement Benefit, as the case may be, less payments made prior to the Director’s death. 

 ARTICLE VI. 
 OFFSET FOR OBLIGATIONS TO BANK 
 If, at such time as the Director becomes entitled to benefit payments hereunder, the Director has any debt, obligation or other liability representing an amount owing to
the Bank, and if such debt, obligation or other liability is due and owing at the time benefit payments are payable hereunder, the Bank may offset the amount owing it against the amount of benefits otherwise distributable hereunder. 
 ARTICLE VII. 
 BENEFICIARY
DESIGNATION 
 The Director shall have the right, at any time, to submit in substantially the form attached hereto as Exhibit A, a written designation of
primary and secondary beneficiaries to whom payment under this Agreement shall be made in the event of his death prior to complete distribution of the benefits due and payable under the Agreement. Each beneficiary designation shall become effective
only when receipt thereof is acknowledged in writing by the Bank. 
  

 5 

 ARTICLE VIII. 
 DIRECTOR’S RIGHT TO ASSETS 
 The rights of the Director, any Beneficiary, or any other person claiming through
the Director under this Agreement, shall be solely those of an unsecured general creditor of the Bank. The Director, the Beneficiary, or any other person claiming through the Director, shall only have the right to receive from the Bank those
payments as specified under this Agreement. The Director agrees that he, his Beneficiary, or any other person claiming through him shall have no rights or interests whatsoever in any asset of the Bank, including any insurance policies or contracts
which the Bank may possess or obtain to informally fund this Agreement. Any asset used or acquired by the Bank in connection with the liabilities it has assumed under this Agreement, except as expressly provided, shall not be deemed to be held under
any trust for the benefit of the Director or his Beneficiaries, nor shall it be considered security for the performance of the obligations of the Bank. It shall be, and remain, a general, unpledged, and unrestricted asset of the Bank. 
 ARTICLE IX. 
 RESTRICTIONS UPON
FUNDING 
 Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The
Director, his Beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Bank reserves the
absolute right at its sole discretion to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, and method of such informal funding. Should the Bank elect to fund this
Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part.
At no time shall Director be deemed to have any lien, nor right, title or interest in or to any specific funding investment or to any assets of the Bank. If the Bank elects to invest in a life insurance, disability or annuity policy upon the life of
the Director, then Director shall assist the Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities. 
 ARTICLE X. 
 PAYMENT UPON TERMINATION OF SERVICE 
 If the Director terminates service prior to Normal Retirement Date, benefit payments over the Payout Period shall be made to the Director, based on the Accrued Benefit
at the date such payout begins. Such payments shall begin as soon as administratively practicable following the Director’s termination of service except as may be provided pursuant to Article XI. 
  

 6 

 ARTICLE XI. 
 CHANGE OF DISTRIBUTION ELECTION 
 A Director may change the commencement date of his or her distribution with respect
to his or her Retirement Account at any time; provided, however, that [i] such election shall not take effect until at least twelve (12) months after the date in which the election is made, [ii] no change may be made less than twelve
(12) months prior to the date of the first scheduled payment specified under the Plan at the date of the deferral of the Director’s fees, and [iii] with respect to a payment that is not the result of death, disability (as defined in
Section 4.3), the payment with respect to which such change is made must be deferred for a period of not less than five (5) years from the date such payment would otherwise have been made. Any change of distribution election which does not
meet the foregoing requirements shall be disregarded. 
 ARTICLE XII. 
 ALIENABILITY AND ASSIGNMENT PROHIBITION 
 Neither Director nor any Beneficiary under this
Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the
payment of any debts, judgments, alimony or separate maintenance owed by the Director or his Beneficiary, nor be transferable by operation of law in the event of bankruptcy, insolvency or otherwise. In the event Director or any Beneficiary attempts
assignment, communication, hypothecation, transfer or disposal of the benefits hereunder, the Bank’s liabilities shall forthwith cease and terminate. 
 ARTICLE XIII. 
 CLAIMS PROCEDURE 
 Claims Procedure And Arbitration. In the event that benefits under this Agreement are not paid to the Director (or to his Beneficiary in the case of the Director’s death) and such claimants feel they are
entitled to receive such benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are refused. The Bank and its Board shall review the written claim and, if the claim is denied, in whole or
in part, they shall provide in writing, within ninety (90) days of receipt of such claim, their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based, and any additional material or
information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. 
 If claimants desire a second review, they shall notify the Administrator in writing within sixty (60) days of the first claim denial. Claimants may review the Agreement or any documents relating thereto and
submit any written issues and comments they may feel appropriate. In its sole discretion, the Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall
likewise state the specific reasons for the decision and shall include reference to specific provisions of the Agreement upon which the decision is based. 
  

 7 

 If claimants continue to dispute the benefit denial based upon completed performance of the Agreement or the meaning and
effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant, one member selected by the Bank, and the third member
selected by the first two members. The Board shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision
of such Board with respect to any controversy properly submitted to it for determination. 
 ARTICLE XIV. 
 MISCELLANEOUS 
  

	14.1	No Effect on Directorship Rights. Nothing contained herein will confer upon the Director the right to be retained in the service of the Bank nor limit the right of the Bank
to discharge or otherwise deal with Director without regard to the existence of the Agreement. 

  

	14.2	State Law. The Agreement is established under, and will be construed according to, the laws of the State of Indiana, to the extent that such laws are not preempted by the Act
and valid regulations published thereunder. 

  

	14.3	Severability. In the event that any of the provisions of this Agreement or portion thereof, are held to be inoperative or invalid by any court of competent jurisdiction,
then: (1) insofar as is reasonable, effect will be given to the intent manifested in the provisions held invalid or inoperative, and (2) the validity and enforceability of the remaining provisions will not be affected thereby.

  

	14.4	Incapacity of Recipient. In the event Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate is
appointed, any benefits under the Agreement to which such Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estate. Except as provided above in this paragraph, when the
Bank’s Board of Directors, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Bank to make distributions to any person for the benefit of the Director.

  

	14.5	Unclaimed Benefit. The Director shall keep the Bank informed of his current address and the current address of his Beneficiaries. The Bank shall not be obligated to search
for the whereabouts of any person. If the location of the Director is not made known to the Bank within three (3) years after the date on which any payment of the Deferred Compensation Benefit may be made, payment may be made as though the
Director had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Director, the Bank is unable to
locate any Beneficiary of the Director, then the Bank may fully discharge its obligation by payment to the Estate. 

  

 8 

	14.6	Limitations on Liability Notwithstanding any of the preceding provisions of the Agreement, neither the Bank, nor any individual acting as an employee or agent of the Bank, or
as a member of the Board of Directors shall be liable to the Director or any other person for any claim, loss, liability or expense incurred in connection with the Agreement. 

  

	14.7	Gender. Whenever in this Agreement words are used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter gender, whenever
they should so apply. 

  

	14.8	Affect on Other Corporate Benefit Agreements. Nothing contained in this Agreement shall affect the right of the Director to participate in or be covered by any qualified or
non-qualified pension, profit sharing, group, bonus or other supplemental compensation or fringe benefit agreement constituting a part of the Bank’s existing or future compensation structure. 

  

	14.9	Headings. Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall not be deemed a part of this Agreement.

 ARTICLE XV. 
 AMENDMENT AND TERMINATION 
  

	15.1	Amendment or Termination. The Bank intends the Agreement to be permanent, but reserves the right to amend or terminate the Agreement when, in the sole opinion of the Bank,
such amendment or termination is advisable. Any such amendment or termination shall be made pursuant to a resolution of the Board of Directors of the Bank and shall be effective as of the date of such resolution. No amendment or termination of the
Agreement shall directly or indirectly deprive the Director of all or any portion of the Deferred Compensation Benefit payment which has commenced prior to the effective date of the resolution amending or terminating the Agreement.

  

	15.2	No Acceleration In the event the Agreement is terminated, any amounts credited to the Director’s Retirement Account shall remain subject to the provisions of this
Agreement and distribution may not be accelerated because of the termination except as may be permitted pursuant to regulations or other guidelines issued under Code §409A. 

 ARTICLE XVI. 
 EXECUTION 
  

	16.1	This Agreement sets forth the entire understanding of the parties hereto with respect to the transactions contemplated hereby, and any previous agreements or understandings between
the parties hereto regarding the subject matter hereof are merged into and superseded by this Agreement. 

  

 9 

	16.2	This Agreement shall be executed in duplicate, each copy of which, when so executed and delivered, shall be an original, but both copies shall together constitute one and the same
instrument. 

 IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed on this 12th day of April, 2006. 
  

			
	 /s/ Michael F. Ludden

	Director
	
	FIRST SAVINGS BANK, FSB
		
	By:	 	 /s/ R. David Eckerty

  

 10

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