Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

(Thomas M. Prame) 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into to be
effective as of August 15, 2022 (the “Effective Date”), by and among HORIZON BANK (the “Bank”), an Indiana state-chartered bank,
HORIZON BANCORP, INC. (the “Holding Company”), an Indiana corporation and a registered bank holding company, and THOMAS M. PRAME (the
“Executive”). The Bank and the Holding Company are referred to herein jointly as the “Company.” If Executive’s employment with the Company does not commence on the Effective Date for any reason, this Agreement
shall automatically terminate and be of no further force and effect. 
 W I T N E S S E T H: 

WHEREAS, Bank is a wholly-owned subsidiary of the Holding Company; and 

WHEREAS, the Company desires to employ the Executive as President of the Bank and the Holding Company, and the Executive desires to be
employed by the Company as President of the Bank and the Holding Company, in accordance with the provisions of this Agreement; and 

WHEREAS, in addition to the employment provisions contained herein, the Company and the Executive have agreed to certain restrictions,
covenants, agreements and severance payments, as set forth in this Agreement; and 
 WHEREAS, the Executive is willing to perform such
services for the Company upon the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing premises, the
mutual covenants, agreements and obligations contained herein, the employment of the Executive by the Company pursuant to this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Company and the Executive, each intending to be legally bound, hereby agree as follows: 
 Section 1. Employment; Term.

 (a) Employment. The Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed
by the Company, in accordance with the provisions of this Agreement. 
 (b) Term. Unless terminated earlier as
provided herein, the initial term of the Executive’s employment with the Company hereunder will begin on the Effective Date of this Agreement and will end on the date which is one (1) year following the date hereof; provided,
however, that on each annual anniversary of the Effective Date, the Executive’s term of employment will be extended for an additional one (1) year period beyond the then-effective expiration date, upon the same agreements, covenants
and provisions set forth herein, unless at least 60 days prior to the expiration of any one (1)-year period during the term hereof, the Company delivers to the Executive written notice that the term of this Agreement will not be so extended (the
initial term of this Agreement and all extensions thereof, if any, are hereinafter referred to individually and collectively as the “Term”). 

  
  

 

			
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 Section 2. Position; Duties; Responsibilities.  

(a) Position. During the Term, the Executive will be the President of the Bank and the Holding Company. The Executive
will also be appointed to the board of directors of the Bank while the Executive serves as the President of the Bank. 
 (b)
Duties and Responsibilities. During the Term, the Executive will devote substantially all business time, attention and energy, and reasonable best efforts, to the interests and business of the Bank, the Holding Company and their affiliates
and subsidiaries (collectively “Affiliates”) and to the performance of the Executive’s duties and responsibilities on behalf of the Company and any Affiliate. Subject to the terms and conditions of this Agreement, the Executive
may use his discretion in fixing the hours and schedule of work consistent with the proper discharge of the Executive’s duties. The Executive, subject to the direction and control of the CEO (who shall be the Executive’s direct supervisor)
and/or the board of directors of the Bank and the Holding Company, will have all power and authority commensurate with the Executive’s status and necessary to perform his duties hereunder, which shall include the duties and responsibilities
typically associated with the position of President of an Indiana state-chartered bank and such other duties as are assigned to him from time to time by the CEO and/or the board of directors of the Bank and/or Holding Company. During the Term the
Executive will not serve on the board of directors of any for-profit organization without the prior consent of the Holding Company’s board of directors (the “Board”). 

(c) Working Conditions. So long as the Executive is employed by the Company pursuant to this Agreement, the Executive
will be entitled to office space and working conditions consistent with his position as President of the Bank and the Holding Company. The Company will provide the Executive with such assistance and working accommodations as are suitable to the
character of his positions with the Company and as are adequate for the performance of the Executive’s duties. The Executive will not be required to be absent from the location of the principal executive offices of the Company on travel status
or otherwise more than 30 days in any calendar year. 
 (d) Relocation and Expenses. On or prior to December 31,
2023, the Executive will relocate his primary residence to a location no more than thirty (30) miles from the Bank’s principal office located at 515 Franklin Street, Michigan City, IN 46360 (respectively, the “Relocation”
and the “Principal Office”). From the date of the Relocation until the end of the Term, the Executive shall continue to maintain a principal residence in a location no more than thirty (30) miles from the Principal Office. The
Company shall reimburse the Executive for up to $30,000 in reasonable and customary relocation expenses (including, without limitation, moving and packing fees) actually incurred by the Executive relating to the Relocation. The Executive shall
provide customary documentation to verify such expenses and shall otherwise comply with the terms and conditions of the Company’s policies and procedures related to employee 

  
  

 

			
	EMPLOYMENT AGREEMENT	  	PAGE 2

 
expense reimbursement in effect from time to time. In addition to the aforementioned reimbursement of Relocation expenses, the Company shall also pay the Executive a lump sum of $50,000 to assist
with any interim costs, fees and expenses incurred by the Executive in transitioning to his new position at Horizon and relocating to Michigan City, Indiana, which will be paid to the Executive in accordance with the Bank’s usual and customary
payroll practices applicable to its employees generally and on the first regularly scheduled pay period after the Effective Date. If the Executive terminates employment without Good Reason or is terminated by the Company for Cause before the date
that is one (1) year after the Effective Date, the Executive shall be required to repay the Company the gross amount of all amounts paid to the Executive under this Section, except for any Relocation costs or expenses that have been reimbursed
to the Executive. 
 Section 3. Compensation and Employee Benefits. 

(a) Base Salary. Beginning on the Effective Date and during the Term, for all services rendered to or on behalf of the
Company by the Executive in all capacities pursuant to this Agreement or otherwise, the Company will pay to the Executive an annual base salary equal to $550,000 (the “Base Salary”), which Base Salary will be adjusted in accordance
with this Section. At approximately annual intervals, after the end of each fiscal year of the Bank during the Term, the Compensation Committee of the Board (the “Committee”) will review, or will cause to be reviewed, the Base
Salary payable to the Executive, giving attention to all factors that the Committee deems pertinent, including, without limitation, the performance of the Bank, the Holding Company and any Affiliate, the performance of the Executive and the
compensation practices inside and outside of the Company. The Committee will, after such annual review, determine the Base Salary to be paid until the completion of the next annual review, but such new Base Salary will not be less than the Base
Salary as of the previous year. The Base Salary will be paid to the Executive in accordance with the Bank’s usual and customary payroll practices applicable to its employees generally. 

(b) Annual Bonuses. The Executive will be eligible to participate in the Company’s executive officer target bonus
plan, subject to annual approval by the Committee, beginning with the calendar year ending December 31, 2023. Any earned bonus shall be payable in accordance with the Company’s historical timing, subject to Committee approval and upon
obtaining an unqualified opinion on the Holding Company’s annual audited financial statements for such period. 
 (c)
Incentive Compensation. During the Term, the Executive will be entitled to participate in all incentive compensation plans and programs in effect from time to time and generally available to executive officers of the Company (including the
Company’s long-term equity incentive compensation plans and the Supplemental Executive Retirement Plan), subject to the terms and conditions of such plans and programs, including all enrollment and approval requirements and deadlines. 

(d) Employee Benefit Plans. During the Term, the Executive will be entitled to participate in all employee benefit plans
and programs in effect from time to time and generally available to executive officers of the Company, subject to the terms and conditions of such plans and programs. Currently, such plans and programs include health, dental and vision insurance;
life and disability insurance; sick leave; holidays; and 401(k) plan participation. 

  
  

 

			
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 (e) Vacation. Solely for the calendar year 2022, the Executive will
be entitled to two (2) weeks paid vacation. For all years of the Term after 2022, the Executive will be entitled to five (5) weeks paid vacation per calendar year. 

(f) Other Policies. All other matters relating to the employment of the Executive by the Company not specifically
addressed in this Agreement, or in the plans and programs referenced above (including, without limitation, vacation, sick and other paid time off), will be subject to the employee handbooks, rules, policies and procedures of the Company in effect
from time to time, including, but not limited to, the Company’s compensation clawback policies. 
 (f) Taxes and
Other Amounts. All taxes (other than the Company’s portion of FICA taxes) on the Base Salary and other amounts payable to the Executive pursuant to this Agreement or any plan or program will be paid by the Executive. The Company will be
entitled to withhold from the Base Salary and all other amounts payable to the Executive pursuant to this Agreement or any plan or program (i) applicable withholding taxes, and (ii) such other amounts as may be authorized by the Executive
in writing. 
 (g) Acknowledgment by the Executive. Notwithstanding anything herein to the contrary, the Executive
hereby understands, acknowledges and agrees that the Bank or Holding Company may, each in its sole discretion, amend, modify, freeze, suspend or terminate any or all of the incentive compensation, equity compensation, employee benefit and other
plans and programs referenced herein at any time and from time to time in the future as provided in such plans and programs. Any such amendment, modification, freezing, suspension or termination will not affect any of the Executive’s vested or
accrued benefits under any such plans or programs. 
 Section 4. Termination of Employment. 

Subject to the respective continuing obligations of the parties hereto set forth in this Agreement, the Executive’s employment with the
Company may be terminated during the Term in any of the following ways: 
 (a) Termination by the Company for Cause.
The Company, upon written notice to the Executive, may terminate the Executive’s employment with the Company immediately (except as otherwise expressly provided herein with respect to the Executive’s limited right to cure) for Cause. For
purposes of this Agreement, “Cause” is defined as any of the following actions: 
 (i) An intentional act of
fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by the Executive in the course of the Executive’s employment; provided, however, that (A) no act or failure to
act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or failure to act will only be considered intentional or willful if it is not in good faith and if it is
without a reasonable belief that the action or failure to act is in the best interest of the Company or any Affiliate; 

  
  

 

			
	EMPLOYMENT AGREEMENT	  	PAGE 4

 (ii) Intentional damage by the Executive to the business or property of the
Company or any Affiliate, causing material harm to the Company or any Affiliate; 
 (iii) Material breach by the Executive of
any provision of this Agreement or any change in control or similar agreement the Executive is a party to; 
 (iv) Gross
negligence, willful misconduct or insubordination by the Executive in the performance of the Executive’s duties, or the Executive’s refusal or repeated failure to carry out lawful directives of the board of directors of Bank or Holding
Company or of the Chief Executive Officer; 
 (v) A willful and material violation of the Company’s or any
Affiliate’s written policies or codes of conduct or laws, including written policies or laws related to discrimination, harassment, or illegal or unethical conduct; 

(vi) Engagement in conduct (including on-line posting, messaging, blogging or similar
forms of electronic communication) that causes, or is reasonably likely to cause, the Company or any Affiliate negative publicity, public disgrace, embarrassment, or disrepute; 

(vii) A conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony (or state law equivalent) or a
crime that constitutes a misdemeanor involving dishonesty, breach of trust or moral turpitude; or 
 (viii) Removal or
permanent prohibition of the Executive from participating in the conduct of the affairs of Bank or Holding Company or any Affiliate by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12 USC §§
1818(e)(4) and (g)(1). 
 (b) Termination by the Company Without Cause. The Company, upon not less than 30 days’
prior written notice to the Executive, may terminate the Executive’s employment with the Company without Cause in accordance with Section 1(b). 

(c) Termination by the Executive for Good Reason. The Executive, upon written notice to the Company, may terminate his
employment with the Company immediately (except as otherwise expressly provided herein with respect to the Company’s limited right to cure) for Good Reason. For purposes of this Agreement, “Good Reason” is defined as the
occurrence of any of the following events: 
 (i) The requirement that the Executive move the Executive’s office to a
location more than thirty (30) miles from the Executive’s primary residence as of immediately after the Relocation, unless such requirement arises out of a decision to relocate the Bank’s corporate headquarters to a new location; 

  
  

 

			
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 (ii) A reduction of ten percent (10%) or more in the Executive’s
then-current annual base salary, unless part of an institution-wide reduction and proportionate to the reduction in the annual base salary of all other executive officers of the Company; 

(iii) The removal of the Executive from participation in any incentive compensation or performance-based compensation plans
which results in a reduction of ten percent (10%) or more in the Executive’s total compensation, unless the Company terminates participation in the plan or plans with respect to all other executive officers of the Company; 

(iv) The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or
program or deprive the Executive of any such benefit enjoyed by the Executive resulting in a reduction of ten percent (10%) or more of the Executive’s total compensation, unless part of an institution-wide reduction and applied similarly to all
other executive officers of the Company; 
 (v) The assignment to the Executive of duties and responsibilities materially
different from those normally associated with the Executive’s position; 
 (vi) A material diminution or reduction in
the Executive’s duties, responsibilities or authority (including reporting responsibilities) normally associated with the Executive’s position; 

(vii) Any action by the Company to remove the Executive from the Executive’s then-current officer position or materially
change the Executive’s title, except for promotions and except for removal from office for Cause; 
 (viii) A material
breach by the Company of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or 

(ix) To the extent such assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the
assumption of the obligation to perform this Agreement by any successor, including upon a change in control as defined in Section 409A of the Internal Revenue Code of 1986, as amended (“Code”). 

(d) Termination by the Executive Without Good Reason. The Executive, upon not less than 60 days’ prior written
notice to the Bank, may terminate his employment with the Company without Good Reason. 
 (e) Termination in the Event of
Death or Disability. The Executive’s employment hereunder will terminate immediately upon the death of the Executive. The Executive’s employment with the Company may be terminated by the Company in the event of the occurrence of a
Disability of the Executive. For purposes hereof, a “Disability” is defined as the Executive’s inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which
can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months. If, by reason of any medically determinable physical or mental impairment that can be expected to result in death or last
for a continuous period of not less 

  
  

 

			
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than twelve (12) months, the Executive is receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan sponsored by the
Company, the Executive will be deemed to be Disabled. The Committee , in its reasonable discretion, will be the sole and final judge of whether the Executive is Disabled for purposes of this Agreement, after consideration of any evidence it may
require, including the reports of any physician or physicians it may designate. 
 (f) Notice and Date of Termination.
Any termination of the Executive’s employment with the Company as contemplated by this Section 4, except in the event of the Executive’s death, will be communicated in writing by the terminating party to the other party hereto. Any
notice of termination will indicate the specific provisions of this Agreement relied upon and, if applicable, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. The last day of the
Executive’s employment with the Company will be referred to herein as the “Date of Termination.” 
 (g)
Limited Right to Cure by the Company and the Executive. 
 (i) In the event that the Company desires to terminate the
Executive’s employment for Cause pursuant to subsection 4(a)(iii), the Company, upon written notice to the Executive, may terminate the Executive’s employment for Cause, which will terminate the Executive’s employment and right to
compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (A) indicate the specific provisions of this Agreement relied upon for such termination;
(B) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (C) state whether the board of directors of the Holding Company has determined in good faith that the issue is curable; and
(D) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by the Executive to correct or cure the basis for such termination. If (but only if) the basis for
termination has been deemed curable by the board of directors, then the Executive will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of the Executive’s employment.
If the Executive does not fully correct and cure the basis for the termination of the Executive’s employment within such 30-day period, then the Company will have the right to terminate the
Executive’s employment immediately for Cause upon delivering to the Executive a second written notice of termination and without any further cure period. Unless otherwise specified in the written notice, the Date of Termination shall be the
date of the first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause. Notwithstanding the foregoing, the Executive will be entitled to so correct and cure
only a maximum of two times during any calendar year. 

  
  

 

			
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 (ii) In the event that the Executive desires to terminate the
Executive’s employment with the Company for Good Reason pursuant to subsection 4(c), all of the following must timely occur: (A) within ninety (90) days immediately following the first occurrence of such event, the Executive must
deliver to the Company a written notice describing, in reasonable detail, the Good Reason event and the proposed cure to such event; (B) the Company must fail to cure such event during the thirty (30) days from the date of receipt of such
notice; and (C) a second written notice of termination must be delivered by the Executive to the Company within ninety (90) days following the day on which the 30-day cure period set forth in the
preceding clause (B) expires. The Executive’s employment with the Company will terminate immediately upon delivery of the second written notice of termination. Notwithstanding the foregoing, the Company will be entitled to so correct and
cure only a maximum of two times during any calendar year. 
 (h) Regulatory Restrictions. 

(i) If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an
order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Company under this Agreement shall terminate as of the effective date of the
order, but vested rights of the parties shall not be affected. 
 (ii) If the Bank is in default (as defined in
Section 3(x)(1) of FDIA), all obligations of the Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties. 

(iii) All obligations under this Agreement shall terminate, except to the extent determined that continuation of this Agreement
is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial Institutions (the “DFI”) or its designee, or the Bank’s primary federal regulator at the time that the Federal Deposit
Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank’s
primary federal regulator, at the time that the DFI, or its designee, or the Bank’s primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or
the Bank’s primary federal regulator, to be in an unsafe or unsound condition. Any such action shall not affect any vested rights of the parties. 

(iv) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or
temporarily prohibits Executive from participating in the conduct of the Bank’s affairs, the Company’s obligations under this Agreement shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings.
If the charges in the notice are dismissed, the Company may, in its sole discretion, (A) pay Executive all or part of the compensation withheld while its contract obligations were suspended, and/or (B) reinstate (in whole or in part) any
of its obligations which were suspended. 

  
  

 

			
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 (v) Notwithstanding anything to the contrary contained herein, Executive
acknowledges and agrees that any payments made to Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and Part 359 of the FDIC’s regulations (12 C.F.R. Part
359), which provisions contain certain prohibitions and limitations on making “golden parachute” and certain indemnification payments by FDIC-insured institutions and their holding companies. In the event any payments to Executive pursuant
to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such limitations; and (B) will use commercially
reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Executive agrees that Bank and/or Holding Company shall not
have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Executive as a result of the application of these limitations. 

Section 5. Payment Upon Termination of Employment. 

Upon the termination of the Executive’s employment with the Company pursuant to Section 4, the Executive will receive the following:

 (a) Termination by the Company for Cause, by the Executive Without Good Reason or Due to Death or Disability of the
Executive. Upon the termination of the Executive’s employment by the Company for Cause pursuant to subsection 4(a), by the Executive without Good Reason pursuant to subsection 4(d) or in the event of termination due to the death or
Disability of the Executive pursuant to subsection 4(e), the Company will pay or provide to the Executive (or, in the event of death, the Executive’s estate) the following amounts and benefits: 

(i) that portion of the Executive’s Base Salary earned through the Date of Termination, payable in accordance with normal
payroll practices; 
 (ii) all amounts that have vested or accrued prior to the Date of Termination under all incentive
compensation or employee benefit plans of the Bank or Holding Company in accordance with the provisions of such plans; and 

(iii) notwithstanding the foregoing, all options granted to the Executive to purchase shares of common stock of the Holding
Company and all shares of restricted stock of the Holding Company (whether such options and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and the
Executive. 
 It is noted that nothing in this Agreement will serve to prevent the Executive from receiving long-term disability payments
from the Company’s long-term disability program, if any, if the Executive is otherwise eligible to receive benefits under such a program. 

  
  

 

			
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 (b) Termination by the Company Without Cause or by the Executive With
Good Reason. Upon the termination of the Executive’s employment by the Company without Cause pursuant to subsection 4(b), or by the Executive with Good Reason pursuant to subsection 4(c), the Company will pay or provide to the Executive the
following amounts and benefits: 
 (i) that portion of the Executive’s Base Salary earned through the Date of
Termination, payable in accordance with normal payroll practices; 
 (ii) an amount equal to the Executive’s annual Base
Salary in effect as of the date immediately preceding the Date of Termination plus a single sum payment equal to the average of the Executive’s cash bonuses paid or payable for the last two calendar years preceding the Date of Termination;
provided, however, that during 2022, the bonus calculation shall be two times $275,000 (pro-rated to the actual number of days worked by the Executive in 2022), and during 2023, the bonus calculation
shall be two times the average of any 2022 bonus plus the 2023 target bonus. All amounts payable under this Section 5(b)(ii) shall be payable as of the date of the first payroll following the Date of Termination, subject to delivery of the
Release (as defined in Section 5(d)) and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter, but in any event not later than 45 days following delivery of the executed Release; 

(iii) continued participation in the group health insurance and group life insurance benefits which the Executive would have
been eligible to participate in or receive on the day prior to the Date of Termination (“Insurance Programs”) beginning on the Date of Termination and continuing for a period of one year (“Benefit Continuation
Term”), but only to the extent the Executive continues to qualify for participation therein. If the Executive is not permitted to continue participation in those Insurance Programs, the Company will reimburse the Executive for the costs of
health insurance and life insurance benefits for the Benefit Continuation Term; provided, however, the amount of these benefits will be limited to an amount equal to 110% of the Company’s then current cost of providing comparable
benefits under the Insurance Programs; 
 (iv) all other amounts not addressed by another subsection of this
Section 5(b) that have vested or accrued prior to or on the Date of Termination (or otherwise are or become payable to the Executive) under all incentive compensation or other qualified and non-qualified
employee benefit plans of the Holding Company or Bank in accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts; 

(v) cash reimbursement for reasonable expenses (as determined by the Board in its sole discretion) actually incurred by the
Executive in searching for new employment during the one-year period following the Date of Termination and limited to no greater than $20,000. Each reimbursement will be paid to the Executive within 30 days
following the receipt by the Company of a valid claim substantiating the expense and no reimbursement will be made after one year following the year in which the expense is incurred; and 

  
  

 

			
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 (vi) notwithstanding the foregoing, all options granted to the Executive to
purchase shares of common stock of the Holding Company and all shares of restricted stock of the Holding Company (whether such options and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award
agreement(s) between the Holding Company and the Executive. 
 (c) Delay of Payment of Benefits in Certain
Circumstances. 
 (i) Separation from Service. For purposes of this subsection (c) only, “Separation
from Service” means the date on which the Executive dies, retires or otherwise experiences a Termination of Employment with the Company; provided, however, a Separation from Service does not occur if the Executive is on military
leave, sick leave or other bona fide leave of absence (such as temporary employment by the government) if the period of such leave does not exceed six (6) months, or if the leave is for a longer period, so long as the Executive’s right to
reemployment with the Company is provided either by statute or by contract. If the period of leave exceeds six (6) months and the Executive’s right to reemployment is not provided either by statute or contract, there will be a Separation
from Service on the first date immediately following such six (6)-month period. With respect to any payment made under this Agreement which constitutes deferred compensation subject to Code Section 409A, the Executive will incur a
“Termination of Employment” when a termination of employment is incurred under Treasury Regulation Section 1.409A-1(h)(1)(ii). 

(ii) Suspension of Payments to Specified Employees. To the extent such suspension is required by Code Section 409A
or Treasury Regulations issued pursuant to Code Section 409A, if an amount is payable to the Executive due to the Executive’s Separation from Service for a reason other than the Executive’s death, and if at the time of the Separation
from Service the Executive is a “Specified Employee,” payment of all amounts which constitute deferred compensation under Code Section 409A to the Executive under the Agreement will be suspended for six (6) months following such
Separation from Service. The Executive will receive payment of such amounts on the first day following the six (6) month suspension period. 

(A) A “Specified Employee” means an individual who is a “Key Employee” of the Company at a time when the Holding
Company’s stock is publicly traded on an established securities market. The Executive will be a Specified Employee on the first day of the fourth month following any “Identification Date” on which the Executive is a Key Employee. 

(B) The Executive is a “Key Employee” if at any time during the twelve (12) month period ending on an Identification Date the
Executive is: (i) an officer of the Company having annual compensation greater than $175,000 (as adjusted in accordance with the requirements of Code Section 409A); (ii) a five-percent owner of the Company; or (iii) a one-percent owner of the Company having an annual compensation greater than $150,000. For purposes of determining whether an Executive is an officer under clause (i), no more than 50 employees (or, if lesser, the
greater of three or ten percent of the employees) will be treated as officers, and those categories of employees listed in Code Section 414(q)(5) will be excluded. 

  
  

 

			
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 (C) The “Identification Date” for purposes of this Agreement is December 31
of each calendar year. 
 (d) Certain Limitations. Amounts payable to the Executive pursuant to this Section 5
will be subject to the following limitations: 
 (i) amounts payable pursuant to this Section will be subject to the terms of
subsections 5(c) and 5(e), as applicable, and, except for payment of amounts required under subsections 5(a) and 5(b)(i), paid only so long as the Executive is not in breach of any of the provisions of this Agreement; and 

(ii) payment of all amounts payable pursuant to subsection 5(b), except such amounts to which Executive would be entitled under
subsection 5(a), as applicable, will be made pursuant to this Section only if the Executive executes a full release of claims relating to the Executive’s employment by the Company and/or any Affiliate in favor of such parties in a form
reasonably acceptable to, and provided by, the Company (the “Release”). The Company will set a deadline for return of the Release that will be no later than sixty (60) days following the termination of employment, and the
Release must remain unrevoked during any revocation period. 
 (e) 280G Cutback. Anything in this Agreement to the
contrary notwithstanding, in the event the Company’s independent public accountants determine that any payment by the Company to or for the benefit of the Executive, whether paid or payable pursuant to the terms of this Agreement or otherwise,
would be non-deductible by the Company for federal income tax purposes because of Section 280G of the Internal Revenue Code of 1986, as amended, the amount payable to or for the benefit of the Executive
pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by the Company to the Reduced Amount. For purposes of this Section, the “Reduced Amount” shall be the amount which
maximizes the amount payable without causing the payment to be non-deductible by the Company because of Section 280G. If two economically equivalent amounts are subject to reduction but are payable at
different times, the amounts shall be reduced (but not below zero) on a pro rata basis. 
 Section 6. Survival of Certain
Provisions. 
 Upon any termination of the Executive’s employment with the Company, the Executive and the Company hereby
expressly agree that the provisions of Sections 5, 6, 7 and 8 will continue to be in full force and effect and binding upon the Executive and the Company in accordance with the applicable respective provisions of such Sections and Section 1(b).

  
  

 

			
	EMPLOYMENT AGREEMENT	  	PAGE 12

 Section 7. Indemnification. 

The Company will indemnify the Executive (and his legal representatives or other successors) to the fullest extent permitted (including
payment of expenses in advance of final disposition of the proceeding) by the Articles of Incorporation and By-Laws of the Company as in effect at such time. The Executive will be entitled to the protection of
any insurance policies the Company may elect to maintain generally for the benefit of its directors and officers, against all costs, charges and expenses whatsoever incurred or sustained by him or his legal representatives in connection with any
action, suit or proceeding to which he (or his legal representatives or other successors) may be made a party by reason of his being or having been a director, officer or employee of the Company or any of its subsidiaries. If any action, suit or
proceeding is brought or threatened against the Executive in respect of which indemnity may be sought against the Company pursuant to the foregoing, the Executive will notify the Company promptly in writing of the institution of such action, suit or
proceeding, and the Company will assume the defense thereof and the employment of counsel and payment of all fees and expenses. 

Section 8. Miscellaneous. 

(a) Assignment. This Agreement is personal in nature and no party hereto will, without the prior written consent of the
other party hereto, assign or transfer this Agreement or any rights or obligations hereunder, except as provided pursuant to subsection 8(p) or as otherwise provided herein. Without limiting the foregoing, the Executive’s right to receive
compensation hereunder will not be assignable or transferable by the Executive, whether by pledge, creation of a security interest or otherwise, other than a transfer by the Executive’s will or by the laws of descent, and in the event of any
attempted assignment or transfer contrary to this Section, the Company will have no liability to pay any amounts so attempted to be assigned or transferred and such attempted assignment shall be void and of no effect. Notwithstanding the foregoing
or anything herein to the contrary, this Agreement may be assigned by the Company to any Affiliate without the prior consent of the Executive. 

(b) Waiver. Either party hereto may, by a writing signed by the waiving party, waive the performance by the other party
of any of the covenants or agreements to be performed by such other party under this Agreement. The waiver by either party hereto of a breach of or noncompliance with any provision of this Agreement will not operate or be construed as a continuing
waiver or a waiver of any other or subsequent breach or noncompliance hereunder. The failure or delay of either party at any time to insist upon the strict performance of any provision of this Agreement or to enforce its rights or remedies under
this Agreement will not be construed as a waiver or relinquishment of the right to insist upon strict performance of such provision, or to pursue any of its rights or remedies for any breach hereof, at a future time. 

(c) Amendment. This Agreement may be amended, modified or supplemented only by a written agreement executed by all of
the parties hereto. 
 (d) Headings. The headings in this Agreement have been inserted solely for ease of reference
and will not be considered in the interpretation or construction of this Agreement. 

  
  

 

			
	EMPLOYMENT AGREEMENT	  	PAGE 13

 (e) Severability. In case any one or more of the provisions (or any
portion thereof) contained herein will, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provision of this Agreement, but this Agreement will be
construed as if such invalid, illegal or unenforceable provision or provisions (or portion thereof) had never been contained herein. 

(f) Counterparts. This Agreement may be executed in any number of counterparts, each of which will be an original, but
such counterparts will together constitute one and the same agreement. 
 (g) Construction. This Agreement will be
deemed to have been drafted by both parties hereto. This Agreement will be construed in accordance with the fair meaning of its provisions and its language will not be strictly construed against, nor will ambiguities be resolved against, any party.

 (h) Review and Consultation. The Executive hereby acknowledges and agrees that he (i) has read this Agreement
in its entirety prior to executing it, (ii) understands the provisions, effects and restrictions of this Agreement, (iii) has consulted with such of his own attorneys, accountants and financial and other advisors as he has deemed
appropriate in connection with his execution of this Agreement, and (iv) has executed this Agreement voluntarily. THE EXECUTIVE HEREBY UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT HE HAS NOT RECEIVED ANY ADVICE, COUNSEL OR RECOMMENDATION WITH
RESPECT TO THIS AGREEMENT FROM ANY DIRECTOR OR EMPLOYEE OF, OR ANY ATTORNEY, ACCOUNTANT OR ADVISOR FOR, THE BANK OR THE HOLDING COMPANY. 

(i) Attorneys’ Fees. Each party hereto will pay the other party’s reasonable costs and expenses (including,
without limitation, reasonable attorneys’ fees and disbursements) in connection with such other party successfully enforcing any provision or provisions of this Agreement (except as otherwise provided herein) against the breaching party
(whether by litigation, arbitration, mediation, settlement or negotiation). 
 (j) and novates all other prior
understandings, commitments, representations, negotiations, contracts and agreements, whether oral or written, between the parties hereto relating to the matters contemplated hereby and constitutes the entire understanding and agreement between the
parties hereto relating to the subject matter hereof. 
 (k) Certain References. Whenever in this Agreement a singular
word is used, it also will include the plural wherever required by the context and vice-versa. All references to the masculine, feminine or neuter genders herein will include any other gender, as the context requires. Unless expressly provided
otherwise, all references in this Agreement to days will mean calendar, not business, days. 
 (l) Governing Law. This
Agreement will be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and to be performed therein, without regard to any laws that might be applicable under conflicts of laws principles. 

  
  

 

			
	EMPLOYMENT AGREEMENT	  	PAGE 14

 (m) Notices. All notices, requests and other communications hereunder
will be in writing (which will include facsimile communication) and will be deemed to have been duly given if (i) delivered by hand; (ii) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (iii) sent by overnight delivery service; or (iv) sent by facsimile transmission if such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other
communication by regular United States Mail, first class postage pre-paid, as follows: 
  

			
	If to the Company:	  	Horizon Bancorp, Inc.
		  	Attention: Chairman of the Board of Directors
		  	515 Franklin Street
		  	Michigan City, IN 46360
		  	Telephone: (219) 879-0211
		  	Facsimile: (219) 873-2628
		
		  	and
		
		  	Craig Dwight
		  	Chairman and Chief Executive Officer
		  	Horizon Bank
		  	515 Franklin Street
		  	Michigan City, IN 46360
		  	Phone: 219-873-2725
		  	Fax: 219-874-9280
		
	If to the Executive:	  	Thomas M. Prame
		  	Redacted for privacy

 or to such other address or facsimile number as any party hereto may have furnished to the other parties
in writing in accordance herewith, except that notices of change of address or facsimile number will be effective only upon receipt. 
 All
such notices, requests and other communications will be effective (i) if delivered by hand, when delivered; (ii) if sent by mail in the manner provided herein, two business days after deposit with the United States Postal Service;
(iii) if sent by overnight express delivery service, on the next business day after deposit with such service; or (iv) if sent by facsimile transmission, on the date indicated on the fax confirmation page of the sender if such fax also is
confirmed by mail in the manner provided herein. 
 (n) Jurisdiction and Venue. The parties hereto hereby agree that
all demands, claims, actions, causes of action, suits, proceedings and litigation between or among the parties relating to this Agreement, will be filed, tried and litigated only in a federal or state court located in the State of Indiana. In
connection with the foregoing, the parties hereto irrevocably consent to the jurisdiction and venue of such court and expressly waive any claims or defenses of lack of jurisdiction of or proper venue by such court. 

  
  

 

			
	EMPLOYMENT AGREEMENT	  	PAGE 15

 (o) Recitals. The recitals contained on page one of this Agreement
are expressly incorporated into and made a part of this Agreement. 
 (p) Successors. The Company will require any
successor (whether direct or indirect, by purchase, merger, consolidation, share exchange, combination or otherwise) to all or substantially all of the business, assets or voting securities of the Bank or the Holding Company to expressly assume and
agree, in writing, to perform this Agreement in, and any successor will absolutely and unconditionally assume all of the Company’s obligations hereunder to, the same manner and extent, and upon the same terms and conditions, that the Company
would be required to perform it if no such succession had taken place. Failure of the Company to obtain such agreement prior to the effectiveness of any such succession will be a material breach of this Agreement by the Company and will entitle the
Executive to terminate his employment with the Company for Good Reason pursuant to subsection 4(c). As used in this Agreement, the Company will mean the Company as hereinbefore defined and any successor to their business, assets or voting securities
as aforesaid. 

  
  

 

			
	EMPLOYMENT AGREEMENT	  	PAGE 16

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the Effective Date.

  

									
	HORIZON BANK	 		  	ATTEST
					
	By:	 	 /s/ Craig M. Dwight
	 		  	By:	 	 /s/ Peter L. Pairitz

		 	 Craig M. Dwight, Chairman and
 Chief Executive
Officer
	 		  		 	Peter L. Pairitz, Chairperson of the Compensation Committee of the Board of Directors of Horizon Bancorp, Inc.
			
	HORIZON BANCORP, INC.	 		  	EXECUTIVE
				
	By:	 	 /s/ Craig M. Dwight
	 		  	 /s/ Thomas M. Prame

		 	 Craig M. Dwight, Chairman and
 Chief Executive
Officer
	 		  	Thomas M. Prame

  
  

SIGNATURE PAGE 

PRAME EMPLOYMENT AGREEMENTEX-10.2

 Exhibit 10.2 

HORIZON BANK 
 CHANGE IN
CONTROL AGREEMENT 
 THIS CHANGE IN CONTROL AGREEMENT
(“Agreement”), dated and effective as of August 15, 2022 (the “Effective Date”), is entered into between HORIZON BANK (“Bank”), an Indiana state bank, and
THOMAS M. PRAME (“Employee”). If Employee’s employment with the Bank does not commence on the Effective Date for any reason, this Agreement shall automatically terminate and be of no further force
and effect. 
 WITNESSETH: 

WHEREAS, Bank is a subsidiary of Horizon Bancorp, Inc. (“Holding Company”), a corporation formed under the
laws of the State of Indiana; 
 WHEREAS, as of the Effective Date, Employee will serve as an employee of the Bank pursuant
to a written employment agreement; 
 WHEREAS, the Board of Directors of the Bank (“Board”) has determined
that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or occurrence of a Change in Control (as defined
herein) of the Bank or the Holding Company; and 
 WHEREAS, the Board believes that it is in the best interests of the Bank
and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize and
encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control. 
 NOW,
THEREFORE, in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

 

	Section 1.	 Term. 

The term of this Agreement (the “Term”) shall begin on the Effective Date and, except as otherwise expressly provided herein,
(i) automatically terminate immediately upon the termination of Employee’s employment, for any reason, prior to a Change in Control, and (ii) in the event Employee is still employed by Bank at the time of a Change in Control, then the
term shall continue for one (1) year following consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 7-23 of this Agreement shall survive any termination of the
Term, as provided in Section 11 of this Agreement. 
  

	Section 2.	 Change in Control. 

(a) Definition. For purposes of this Agreement, a “Change in Control” shall be deemed to have occurred if the
conditions or events set forth in any one or more of the following subsections occur: 
 (i) Any merger, consolidation or
similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the surviving or combined
entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis; 

 (ii) Any sale, lease, exchange, transfer or other disposition of all or
substantially all of the consolidated assets of Bank or Holding Company; 
 (iii) Any tender, exchange, sale or other
disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding Company or any Holding
Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank; or 

(iv) During any period of two consecutive years, individuals who at the date of this Agreement constitute the board of
directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning of the period has been approved by directors representing at least a majority of the directors then in
office. 
 (b) Exceptions. Notwithstanding the provisions of Section 2(a), a Change in Control shall not be deemed to have
occurred: 
 (i) As a result of the issuance of stock by the Holding Company in connection with any public offering of its
stock; 
 (ii) With respect to stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part
of the Horizon Bancorp Employees’ Stock Ownership Plan), the Horizon Bancorp Employee’s Thrift Plan Trust (which forms a part of the Horizon Bancorp Employee’s Thrift Plan), or any other employee benefit plan; or 

(iii) With respect to any payment or benefit provided under the Agreement to which Section 409A of the Internal Revenue
Code of 1986, as amended (the “Internal Revenue Code”), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a “change in control” for purposes
of Section 409A. 

  
 2 

	Section 3.	 Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination.

 (a) Termination Period. In connection with a Change in Control, Employee will be entitled to the severance
benefits set forth in this Section 3 if during the six (6)-month period prior to a Change in Control or during the one (1)-year period following consummation of a Change in Control, either of the following two qualifying terminations occurs:
(i) Bank terminates Employee’s employment for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 5 (each of the
terminations described in (i) and (ii) hereof shall be referred to as a “Qualifying Termination”). 
 (b)
Conditions to Receipt of Severance Benefits. Employee’s entitlement to the severance payments set forth in this Section 3 shall be contingent upon Employee’s execution (and
non-revocation) of a release of claims relating to Employee’s employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and
provided by, Bank (the “Release”). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee’s Qualifying Termination or Change in Control, as
applicable, and the Release must remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition,
Employee must be and remain in compliance with the provisions of Sections 7, 8 and 9 of this Agreement. 
 (c) Severance Benefits
Provided. Upon a Qualifying Termination and, for the amounts stated in subsections (ii), (iii) and (v) only, subject to Employee’s compliance with Sections 7, 8 and 9 hereof and Employee’s timely execution and delivery of the
Release, Bank will pay or provide to Employee the following amounts and benefits: 
 (i) That portion of Employee’s base
salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee’s Qualifying Termination; 

(ii) A lump sum amount equal to 2.00 times Employee’s annual base salary in effect as of the date immediately preceding
the date of termination plus a single sum payment equal to the average of the Employee’s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of 2.00; provided,
however, that during 2022, the bonus calculation shall be two times $275,000 (pro-rated to the actual number of days worked by the Employee in 2022), and during 2023, the bonus calculation shall be two
times the average of any 2022 bonus plus the 2023 target bonus. All amounts payable pursuant to this Section 3(c)(ii) shall be payable as of the date of the first payroll following delivery of the executed Release and the lapse of all
applicable revocation periods, or as soon as administratively practicable thereafter, but in any event not later than 45 days following delivery of the executed Release; 

(iii) Continued participation in the group health insurance and group life insurance benefits which Employee was eligible to
participate in or receive on the day prior to the date of termination (“Insurance Programs”), beginning on the date of termination and continuing for a period of twenty-four (24) months (“Benefit Continuation
Term”), 

  
 3 

 
but only to the extent Employee continues to qualify for participation therein and takes all actions required in connection with such participation (including participation through
Employee’s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit Continuation Term, Bank will reimburse Employee for the cost of health
insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of payment for such benefits; provided, however, the amount of these benefits will be limited to an amount equal to
110% of Bank’s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 3(c)(iii) no later than the end of the second calendar year following
the Qualifying Termination; 
 (iv) All other amounts not addressed by another subsection of this Section 3(c) that have
vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the
Holding Company or Bank in accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts; 

(v) An amount equal to the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank
in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the
executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter; and 

(vi) Notwithstanding the foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company
and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s)
between the Holding Company and Employee. 
 (d) Suspension and Termination of Severance Benefits. 

(i) If Employee is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an
order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective
date of the order, but vested rights of the parties shall not be affected. 
 (ii) If the Bank is in default (as defined in
Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties. 

(iii) All obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that
continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial Institutions (the “DFI”) or its designee, or the Bank’s primary federal regulator at the time

  
 4 

 
that the Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in
Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank’s primary federal regulator, at the time that the DFI, or its designee, or the Bank’s primary federal regulator, approves a supervisory merger to resolve
problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank’s primary federal regulator, to be in an unsafe or unsound condition. Any such action shall not affect any vested rights of the parties. 

(iv) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or
temporarily prohibits Employee from participating in the conduct of the Bank’s affairs, Bank’s and Holding Company’s obligations under this Agreement shall be suspended as of the effective date of such notice, unless stayed by
appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract obligations were suspended, and/or (B) reinstate (in whole or in part) any of its
obligations which were suspended. 
 (v) Notwithstanding anything to the contrary contained herein, Employee acknowledges and
agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and Part 359 of the FDIC’s regulations (12 C.F.R. Part 359), which
provisions contain certain prohibitions and limitations on making “golden parachute” and certain indemnification payments by FDIC-insured institutions and their holding companies. In the event any payments to Employee pursuant to this
Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such limitations; and (B) will use commercially
reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees that Bank and/or Holding Company shall not have
breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations. 

(e) Effect of Section 409A of the Internal Revenue Code. 

(i) To the extent a Change in Control qualifies as a “change in control” for purposes of Section 409A of the
Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all
Treasury Regulations and guidance promulgated thereunder (“Section 409A”). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event
whatsoever shall Bank, Holding Company, any Affiliates, and/or their respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for
failing to comply with Section 409A. 

  
 5 

 (ii) Notwithstanding any other provision of this Agreement to the contrary,
if at the time of Employee’s separation from service (as defined in Section 409A) Employee is a “Specified Employee” within the meaning and in accordance with Treasury Regulation
Section 1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to Section 409A payable upon separation from service (without any reduction in
such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest other date as is permitted under Section 409A. Any amounts that
otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if applicable. 

 

	Section 4.	 Termination for Cause. 

(a) Definition of “Cause”. For purposes of this Agreement, “Cause” is defined as any of the following
actions: 
 (i) An intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of
fiduciary duty involving personal profit by Employee in the course of Employee’s employment; provided, however, that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error
in judgment or negligence; and (B) an act or failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or
Holding Company; 
 (ii) Intentional damage by Employee to the business or property of Bank or Holding Company, causing
material harm to Bank or Holding Company; 
 (iii) Material breach by Employee of any provision of this Agreement or any
employment agreement the Employee is a party to; 
 (iv) Gross negligence, willful misconduct or insubordination by Employee
in the performance of Employee’s duties, or the Employee’s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; 

(v) A willful and material violation of the Bank’s or any Affiliate’s written policies or codes of conduct or laws,
including written policies or laws related to discrimination, harassment, or illegal or unethical conduct; 
 (vi) Engagement
in conduct (including on-line posting, messaging, blogging or similar forms of electronic communication) that causes, or is reasonably likely to cause, the Bank or any Affiliate negative publicity, public
disgrace, embarrassment, or disrepute; 
 (vii) A conviction of or plea of guilty or nolo contendere to a crime that
constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving dishonesty, breach of trust or moral turpitude; or 

(viii) Removal or permanent prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company
by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12 USC §§ 1818(e)(4) and (g)(1). 

  
 6 

 (b) Procedure for a Termination for Cause. Bank, upon written notice to Employee, may
terminate Employee’s employment for Cause, which will terminate Employee’s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice
will (i) indicate the specific provisions of this Agreement relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the
Board of Directors of Bank has determined in good faith that the issue is curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to
correct or cure the basis for such termination. If (but only if) the basis for termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct
and cure the basis for the termination of Employee’s employment. If Employee does not fully correct and cure the basis for the termination of Employee’s employment within such 30-day period, then
Bank will have the right to terminate Employee’s employment with Bank immediately for Cause upon delivering to Employee a second written notice of termination and without any further cure period. Unless otherwise specified in the written
notice, the date of termination shall be the date of the first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause. 

(c) Effect on Other Written Agreements. Bank intends the provisions of this Section 4 relating to a termination for Cause to be
consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a termination
for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control. 
  

	Section 5.	 Termination for Good Reason. 

(a) Definition of “Good Reason”. For purposes of this Agreement, “Good Reason” is defined as the occurrence
of any of the following events: 
 (i) The requirement that Employee move Employee’s office to a location more than
thirty (30) miles from Employee’s primary residence as of immediately after the Relocation (as defined in that certain Employment Agreement dated as of the date hereof by and between the Employee, the Bank and the Holding Company (the
“Employment Agreement”)), unless such requirement arises out of a decision to relocate the Bank’s corporate headquarters to a new location; 

(ii) A reduction in Employee’s then-current annual base salary; 

(iii) The removal of Employee from participation in any incentive compensation or performance-based compensation plans without
replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the value of the lost benefit; 

(iv) The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or
program or deprive Employee of any such benefit enjoyed by Employee; 
 (v) The assignment to Employee of duties and
responsibilities materially different from those normally associated with Employee’s position; 

  
 7 

 (vi) A material diminution or reduction in Employee’s duties,
responsibilities or authority (including reporting responsibilities) normally associated with Employee’s position; 

(vii) Any action by Bank to remove Employee from Employee’s then-current officer position or materially change
Employee’s title, except for promotions; 
 (viii) A material breach by Bank of any provision of this Agreement, other
than a breach justifying termination pursuant to any other provision of this Agreement; or 
 (ix) To the extent such
assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control. 

(b) Procedure for a Termination for Good Reason. Employee, by written notice to Bank, may terminate Employee’s employment with
Bank for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety
(90) days immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such event; (ii) Bank must fail to cure such event within a period of thirty
(30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day on which the 30-day
period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice. 

(c) Effect on Other Written Agreements. Bank intends the provisions of this Section 5 relating to a termination for Good Reason to
be consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control. 
  

	Section 6.	 Terminations for Other Reasons. 

(a) Termination by Bank without Cause. Upon thirty (30) days’ prior written notice to Employee, Bank may terminate
Employee’s employment without Cause. 
 (b) Termination by Employee without Good Reason. Employee, upon sixty
(60) days’ written notice to Bank, may terminate Employee’s employment without Good Reason. 
  

	Section 7.	 Non-Disclosure; Return of Confidential Information and Other
Property. 

 (a) Access to Confidential Information. Employee understands, acknowledges and agrees that during
the course of Employee’s employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information
was disclosed by Employee, Bank or any Affiliates would suffer irreparable damage and harm. 

  
 8 

 
Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily ascertainable by proper
means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential Information. For purposes
of this Agreement, the term “Affiliate” means Holding Company and all subsidiaries of Holding Company and its subsidiaries. 
 (b)
Non-Disclosure. At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly or indirectly disclose, provide or discuss any Confidential Information
with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such Confidential Information for a proper corporate purpose, and
(ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee’s own benefit or for the benefit of any Person other than Bank or any Affiliate. Employee agrees that
all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates. 
 (c) Confidential
Information Defined. For purposes of this Agreement, the term “Confidential Information” means any and all: 

(i) materials, records, data, documents, lists, writings and information (whether in writing, printed, verbal, electronic,
computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections,
policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are confidential, proprietary or not otherwise publicly available, in any event not without a breach of this
Agreement, or (B) that Bank or any Affiliate has deemed to be confidential, proprietary or nonpublic; 
 (ii) trade
secrets of Bank or any Affiliate, as defined in Indiana Code Section 24-2-3-2, as amended, or any successor statute; and

 (iii) any and all copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth
in (i) or (ii) above. 
 (d) Definition of Person. For purposes of this Agreement, the term “Person” shall mean any
natural person, proprietorship, partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority. 

(e) Return of Confidential Information and Other Property. Employee covenants and agrees: 

(i) to keep all Confidential Information subject to Bank’s or any Affiliate’s custody and control and to promptly
return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee’s possession or control at the termination of Employee’s employment with Bank; and 

  
 9 

 (ii) promptly upon termination of Employee’s employment with Bank, to
return to Bank, at Bank’s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing. 
  

	Section 8.	 Non-Solicitation of Customers and Employees.

 (a) Obligations of Employee. During the Term, and, for two (2) years thereafter, Employee will not in a
Competitive Capacity (as defined in Section 9), on behalf of any Person other than Bank or any Affiliate, directly or indirectly: 

(i) solicit, divert (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate; 

(ii) Solicit, divert (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom
Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding Employee’s separation; 

(iii) Solicit, divert (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about
whom Employee obtained Confidential Information; 
 (iv) solicit, divert (or attempt to solicit or divert) or accept business
from any identified prospective customer of Bank or any Affiliate; 
 (v) Solicit, divert (or attempt to solicit or divert)
or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding Employee’s
separation; 
 (vi) Solicit, divert (or attempt to solicit or divert) or accept business from any identified prospective
customer of Bank or any Affiliate about whom Employee has obtained Confidential Information; 
 (vii) encourage, solicit,
induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge regarding the
Bank or any Affiliate that could give a competitor an unfair advantage, (b) within the preceding two years, has serviced or established goodwill with the Bank’s customers or acquired Confidential Information about those customers, or
(c) was someone Employee had worked with, or supervised in Employee’s last two years of employment (hereafter defined as an “Individual”), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate
or devote less than full-time efforts to Bank’s or an Affiliate’s business; or 
 (viii) hire or attempt to hire,
for any competitive or other position with any competitor or other business, any Individual who has been an employee of Bank or any Affiliate at any time within the preceding one year; provided, however, that Employee shall not be deemed to
have violated this Section if the individual responds to a general advertisement for employment with the competitor that was not directed at the individual. 

  
 10 

	Section 9.	 Non-Competition. 

(a) During Employment. During Employee’s employment, Employee shall not, directly or indirectly, have any ownership interest in,
work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any Person which competes with Bank or any of its Affiliates. 

(b) Following Termination of Employment. For a period of two (2) years after Employee’s separation from Bank for any reason,
Employee shall not: 
 (i) In the states of Indiana or Michigan; 

(ii) in any Indiana county or Michigan county in which Bank maintains a branch or other office; 

(iii) in any Indiana county or Michigan county in which customers of Bank reside or maintain a facility; 

(iv) in the geographic area in which Employee has been performing services on behalf of Bank, or for which Employee has been
assigned responsibility, at any time within one (1) year preceding Employee’s separation; 
 directly or indirectly own, manage, finance, operate,
control or participate in ownership, management, or operation of, act as an agent, consultant, or be employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further
agrees that during that same period, Employee will not assist in the research and development of products or services (A) where such research and development would be aided by the Confidential Information learned in the course of
Employee’s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate. 
 (c)
Definition of “Competitive Capacity”. For purposes of this Agreement, the term “Competitive Capacity” shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a
competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which
Employee utilized any Confidential Information that Employee learned in the course of Employee’s relationship with Bank or any Affiliate. 
  

	Section 10.	 Periods of Noncompliance and Reasonableness of Periods. 

(a) Acknowledgment. Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections 7, 8
and 9 hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee’s position with Bank and the Affiliates and Employee’s advantageous knowledge of and familiarity with the business,
operations, affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or in
any combination. 

  
 11 

 (b) Effect of Employee Breach. The time periods during which the restrictions and
covenants of Sections 7, 8 and 9 are applicable will be extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank’s obligation to pay the amounts otherwise payable to
Employee pursuant to this Agreement shall immediately terminate in the event that Employee breaches any of the provisions of Sections 7, 8 and 9 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 7, 8 and
9 hereof shall continue in full force and effect and be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 12 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including,
without limitation, reasonable attorney’s fees and expenses) resulting from or relating to Employee’s breach of any of the provisions of Sections 7, 8 or 9 hereof. 

(c) Effect of Bank Breach. Bank and Employee understand, acknowledge and agree that Employee’s entitlement to special severance
benefits upon a Qualifying Termination following a Change in Control, and the other provisions benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 7, 8 and 9 of this
Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written notice of the breach, then
Employee’s obligations under Sections 7, 8 and 9 of this Agreement shall be suspended. 
  

	Section 11.	 Survival of Certain Provisions. 

Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee’s termination of employment with
Bank or otherwise, the provisions of Sections 7-23 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the
case of Bank breach as described in Section 10). 
  

	Section 12.	 Remedies. 

Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the event
of any actual, threatened or attempted breach by Employee of any provision of Sections 7, 8 or 9. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 7, 8 or 9, in addition to all other
remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of Sections 7, 8
or 9. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and remedies available to
Bank or an Affiliate at law, in equity or otherwise. 
  

	Section 13.	 Section 280G. 

Anything in this Agreement to the contrary notwithstanding, in the event Bank’s independent public accountants or counsel determine that
any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of
Section 280G of the Internal Revenue Code, the amount payable to or for the benefit of Employee pursuant to this 

  
 12 

 
Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section 13, the
“Reduced Amount” shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section 280G. If two economically equivalent
amounts are subject to reduction but are payable at different times, the amounts shall be reduced (but not below zero) on a pro rata basis. 
  

	Section 14.	 Successors and Assigns. 

This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly assume
and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank’s and Holding Company’s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 5 of this Agreement. As used in this Agreement,
“Bank” shall mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee, which consent shall not be
unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and Employee’s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any
other person. Employee shall not assign Employee’s interest in this Agreement or any part thereof. Any assignment (or purported assignment) in violation of the terms and conditions of this Agreement shall be void and of no effect. 

 

	Section 15.	 Consent of Bank. 

Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or expressed only
by Bank’s Chief Executive Officer, or by such other person as the Bank’s Board of Directors may designate. 
  

	Section 16.	 Notices. 

All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and will
be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery
service; or (d) sent by facsimile transmission if such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows: 
  

					
	(A)	  	If to Employee:	  	Thomas M. Prame
		  		  	[redacted for privacy]
			
	(B)	  	If to Bank:	  	Horizon Bank
		  		  	515 Franklin Street
		  		  	Michigan City, IN 46360
		  		  	Attn: Chief Executive Officer

  
 13 

	Section 17.	 Governing Law. 

This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and to be
performed therein, without regard to any laws that might be applicable under conflicts of laws principles. 
  

	Section 18.	 Enforcement Expenses. 

If a dispute arises regarding the termination of Employee or as to the interpretation or enforcement of this Agreement and Employee obtains a
final judgment in Employee’s favor in a court of competent jurisdiction or Employee’s claim is settled by Bank prior to the rendering of a judgment by such a court, all reasonable legal fees and expenses incurred by Employee in contesting
or disputing any such termination or seeking to obtain or enforce any right or benefit provided for in this Agreement or otherwise pursuing Employee’s claims shall be paid by Bank (except as otherwise decided in any settlement between the
parties) to the extent permitted by law. 
  

	Section 19.	 Superseding Prior Agreements; Entire Agreement. 

The Employee, Bank and Holding Company agree that as long as the provisions of Sections 7, 8 and 9 are in effect, those provisions shall
supersede and replace any similar restrictions in any other agreement between the parties, including, but not limited to, any employment agreement, non-competition or
non-solicitation agreement, and any equity award agreement or plan relating thereto. This Agreement sets forth the entire understanding of the parties hereto with respect to its subject matter, merges and
supersedes all prior and contemporaneous understandings with respect to its subject matter, and may not be waived or modified, in whole or in part, except by a writing signed by each of the parties hereto. No waiver of any provision of this
Agreement in any instance shall be deemed to be a waiver of the same or any other provision in any other instance. 
  

	Section 20.	 Headings. 

The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation or
construction of this Agreement. 
  

	Section 21.	 Severability. 

If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, this Agreement shall be
interpreted and enforceable as if such provision were severed or limited or such payment reduced, but only to the extent necessary to render such provision and this Agreement enforceable. 

 

	Section 22.	 Counterparts. 

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

	Section 23.	 Amendment. 

This Agreement may be amended, modified or supplemented only by a written agreement executed by both of the parties hereto. 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the Effective Date.

  

			
	HORIZON BANK
		
	By:	 	 /s/ Craig M. Dwight

	Craig M. Dwight, Chief Executive Officer
	
	EMPLOYEE
	
	 /s/ Thomas M. Prame

	Thomas M. Prame

  

			
	ATTEST
		
	By:	 	 /s/ Peter L. Pairitz

	Peter L. Pairitz
	Chairperson of the Compensation Committee of
	the Board of Directors

 [Signature Page to Change in Control Agreement]

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