Document:

EX-10.9

 Exhibit 10.9 

HORIZON BANCORP 
 2013
OMNIBUS EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK AWARD AGREEMENT 

THIS AGREEMENT (the “Agreement”), made and executed as of the      day of
            , 20    , between Horizon Bancorp, an Indiana corporation (the “Company”), and
                    , an officer or employee of the Company or one of its Affiliates (the “Participant”). 

WITNESSETH: 

WHEREAS, the Company has adopted the Horizon Bancorp 2013 Omnibus Equity Incentive Plan (the “Plan”) to further the growth
and financial success of the Company and its Affiliates by aligning the interests of Participants, through the ownership of Shares and through other incentives, with the interests of the Company’s shareholders; to provide Participants with an
incentive for excellence in individual performance; to promote teamwork among Participants; to provide flexibility to the Company in its ability to motivate, attract and retain the services of Participants who make significant contributions to the
Company’s success; and to allow Participants to share in the success of the Company; and 
 WHEREAS, it is the view of the
Company that this goal can be achieved by granting Restricted Stock to eligible employees; and 
 WHEREAS, the Participant has been
designated by the Committee as an individual to whom Restricted Stock should be granted as determined from the duties performed, the initiative and industry of the Participant, and his or her potential contribution to the future development, growth
and prosperity of the Company; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the
Company and the Participant agree as follows: 
 1.    Award of Restricted Stock. The Company hereby
awards to the Participant, effective as of the date the Committee formally approves the award by resolution,                     
(0,000) shares of common stock of the Company (hereinafter, the “Restricted Stock”), subject to the terms and conditions of this Agreement and the provisions of the Plan. All provisions of the Plan, including defined terms,
are incorporated herein and expressly made a part of this Agreement by reference. The Participant hereby acknowledges that he or she has received a copy of the Plan. 

2.    Period of Restriction and Vesting. The Period of Restriction shall begin on the Grant Date and end,
except as otherwise provided in Sections 3 and 4 of this Agreement, on the date shares of Restricted Stock become vested. For purposes of this Agreement, the shares of Restricted Stock shall become vested on the
                     anniversary of the Grant Date, provided the Participant is an Employee on such date. The Grant Date is
            , 20    . In addition, as provided in the Plan, in the event of the Participant’s Termination of Service due to death, Disability
or Retirement during the Period of Restriction, the restrictions on the Restricted Stock will lapse and the Participant (or his or her Beneficiary) will, on the date of such Termination of Service, be fully vested in the Restricted Stock. 

  
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 3.    Change in Control. Notwithstanding any other provision of
this Agreement, the Restricted Stock shall be vested upon a Change in Control of the Company as provided in Section 12.1 of the Plan. 

4.    Termination of Service. Notwithstanding any other provision of this Agreement, unless otherwise
determined by the Committee in its sole discretion, in the event of the Participant’s Termination of Service for any reason, all Restricted Stock that has not otherwise vested under the terms of the Plan or Section 2 or 3 of this Agreement
shall be forfeited effective as of the date of the Participant’s Termination of Service. 

5.    Pass-Through of Dividends and Voting Rights. Unless otherwise determined by the Committee in its sole
discretion, the Participant shall be entitled to (a) receive all cash dividends paid with respect to the Restricted Stock, and (b) exercise all voting rights associated with the Restricted Stock, regardless of whether the Period of
Restriction has lapsed. 
 6.    Participant’s Representations. The Participant represents to the
Company that: 
  

	 	(a)	The terms and arrangements relating to the grant of Restricted Stock and the offer thereof have been arrived at or made through direct communication with the Company or a person acting in its behalf and the Participant;

  

	 	(b)	The Participant has received a balance sheet and income statement of the Company and as an employee of the Company or one of its Affiliates: 

 

	 	(i)	is thoroughly familiar with the Company’s business affairs and financial condition; and 

  

	 	(ii)	has been provided with or has access to such information (and has such knowledge and experience in financial and business matters that the Participant is capable of utilizing such information) as is necessary to
evaluate the risks, and make an informed investment decision with respect to, the grant of Restricted Stock. 

7.    Nontransferability. Until the end of the Period of Restriction, the Restricted Stock cannot be
(a) sold, transferred, assigned, margined, encumbered, bequeathed, gifted, alienated, hypothecated, pledged or otherwise disposed of, whether by operation of law, whether voluntarily or involuntarily or otherwise, or (b) subject to
execution, attachment or similar process. Any attempted or purported transfer of Restricted Stock in contravention of this Section or the Plan shall be null and void and of no force or effect whatsoever; provided, however, that the shares of
Restricted Stock may be transferred to the Company in connection with exercise of an Option as provided in Section 6.6 of the Plan. 

8.    Issuance of Shares. At or within a reasonable period of time following execution of this Agreement,
the Company shall issue, in book entry form, the Restricted Stock. Within a reasonable period of time following the end of the Period of Restriction, the Company shall issue 

  
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to the Participant or his beneficiary the number of shares of Restricted Stock specified in Section 1 of this Agreement, less any withholding required by Section 10 of this Agreement.

 9.    Restrictive Legend. In the event the Participant is an “affiliate” of the Company (as
defined by Rule 144 promulgated under the Securities Act of 1933, as amended), the Company may require that the shares to be issued to such Participant contain a legend in substantially the following form: 

“THE HOLDER OF THE SHARES EVIDENCED BY THIS CERTIFICATE IS AN “AFFILIATE” OF THE COMPANY (AS DEFINED BY RULE
144 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED), AND THEREFORE, THE SHARES ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND THE APPLICABLE STATE SECURITIES LAWS.” 
 The Company shall issue such additional certificates as may be required to give
effect to Section 14 of this Agreement. 
 Notwithstanding the foregoing provisions of this Section, the Company shall not be required
to deliver any certificates for shares prior to: (a) the end of the Period of Restriction; (b) completing any registration or other qualification of the Shares, which the Company deems necessary or advisable under any federal or state law
or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body; and (c) obtaining any approval or other clearance from any federal or state governmental agency or body, which the Company
determines to be necessary or advisable. The Company has no obligation to obtain the fulfillment of the conditions specified in the preceding sentence. As a further condition to the issuance of certificates for shares, the Company may require the
making of any representation or warranty which the Company deems necessary or advisable under any applicable law or regulation.  

10.    Income and Employment Tax Withholding. The Participant shall be solely responsible for paying to the
Company all required federal, state, city and local income and employment taxes which arise on the expiration of the Period of Restriction and the vesting of the shares of Restricted Stock. The Committee, in its sole discretion and subject to such
rules as it may adopt, shall require the Participant to satisfy any withholding tax obligation by having the Company retain shares of Restricted Stock which have a Fair Market Value, determined as of the date of the issuance of such Restricted Stock
to the Participant, equal to the amount of the minimum withholding tax to be satisfied by that retention. 

11.    Mitigation of Excise Tax. The Participant acknowledges that the Restricted Stock issued hereunder is
subject to reduction by the Committee for the reasons specified in Section 14.9 of the Plan. 

  
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 12.    Indemnity. The Participant hereby agrees to indemnify
and hold harmless the Company and its Affiliates (and their respective directors, officers and employees), and the Committee, from and against any and all losses, claims, damages, liabilities and expenses based upon or arising out of the
incorrectness or alleged incorrectness of any representation made by Participant to the Company or any failure on the part of the Participant to perform any agreements contained herein. The Participant hereby further agrees to release and hold
harmless the Company and its Affiliates (and their respective directors, officers and employees) from and against any tax liability, including without limitation, interest and penalties, incurred by the Participant in connection with the
Participant’s participation in the Plan. 
 13.    Financial Information. The Company hereby
undertakes to deliver to the Participant, at such time as they become available and so long as the Period of Restriction has not expired and the Restricted Stock has not been forfeited, a balance sheet and income statement of the Company with
respect to any fiscal year of the Company ending on or after the date of this Agreement. 
 14.    Changes in
Shares. In the event of any change in the Shares, as described in Section 4.6 of the Plan, the Committee shall make appropriate adjustment or substitution in the shares of Restricted Stock, all as provided in the Plan. The
Committee’s determination in this respect shall be final and binding upon all parties. 

15.    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 shall not affect any other provision of this Agreement, but this Agreement shall be construed as if such invalid,
illegal or unenforceable provision or provisions (or portion thereof) had never been contained herein. If any provision of this Agreement shall be determined by a court of competent jurisdiction to be unenforceable because of the provision’s
scope, duration or other factor, then such provision shall be considered divisible and the court making such determination shall have the power to reduce or limit (but not increase or make greater) such scope, duration or other factor or to reform
(but not increase or make greater) such provision to make it enforceable to the maximum extent permitted by law, and such provision shall then be enforceable against the appropriate party hereto in its reformed, reduced or limited form; provided,
however, that a provision shall be enforceable in its reformed, reduced or limited form only in the particular jurisdiction in which a court of competent jurisdiction makes such determination. 

16.    Effect of Headings. The descriptive headings of the Sections and, where applicable, subsections, of
this Agreement are inserted for convenience and identification only and do not constitute a part of this Agreement for purposes of interpretation. 

17.    Controlling Laws. Except to the extent superseded by the laws of the United States, the laws of the
State of Indiana, without reference to the choice of law principles thereof, shall be controlling in all matters relating to this Agreement. 

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

  
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 IN WITNESS WHEREOF, the Company, by its officer thereunder duly authorized, and the
Participant, have caused this Restricted Stock Award Agreement to be executed as of the day and year first above written. 
  

							
	HORIZON BANCORP	  		  	PARTICIPANT
				
	By:	 	  
	  		  	  

		 	Craig M. Dwight, President and	  		  	
		 	Chief Executive Officer	  		  	
			
	ATTEST	  		  	
				
	By:	 	  
	  		  	
		 	                    , Chairman,	  		  	
		 	Compensation Committee	  		  	

  
 151EX-10.10

 Exhibit 10.10 

HORIZON BANCORP 
 2013
OMNIBUS EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK AWARD AGREEMENT 

THIS AGREEMENT (the “Agreement”), made and executed as of the      day of
            , 20    , between Horizon Bancorp, an Indiana corporation (the “Company”), and
                    , an officer or employee of the Company or one of its Affiliates (the “Participant”). 

WITNESSETH: 

WHEREAS, the Company has adopted the Horizon Bancorp 2013 Omnibus Equity Incentive Plan (the “Plan”) to further the growth
and financial success of the Company and its Affiliates by aligning the interests of Participants, through the ownership of Shares and through other incentives, with the interests of the Company’s shareholders; to provide Participants with an
incentive for excellence in individual performance; to promote teamwork among Participants; to provide flexibility to the Company in its ability to motivate, attract and retain the services of Participants who make significant contributions to the
Company’s success; and to allow Participants to share in the success of the Company; and 
 WHEREAS, it is the view of the
Company that this goal can be achieved by granting Restricted Stock to eligible employees; and 
 WHEREAS, the Participant has been
designated by the Committee as an individual to whom Restricted Stock should be granted as determined from the duties performed, the initiative and industry of the Participant, and his or her potential contribution to the future development, growth
and prosperity of the Company; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the
Company and the Participant agree as follows: 
 1.    Award of Restricted Stock. The Company hereby
awards to the Participant, effective as of the date the Committee formally approves the award by resolution,
                    (0,000) shares of common stock of the Company (hereinafter, the “Restricted Stock”), subject to the terms
and conditions of this Agreement and the provisions of the Plan. All provisions of the Plan, including defined terms, are incorporated herein and expressly made a part of this Agreement by reference. The Participant hereby acknowledges that he or
she has received a copy of the Plan. 
 2.    Period of Restriction and Vesting. The Period of Restriction
shall begin on the Grant Date and end, except as otherwise provided in Sections 3 and 4 of this Agreement, on the date shares of Restricted Stock become vested. For purposes of this Agreement, the shares of Restricted Stock shall become vested on
the                      anniversary of the Grant Date, provided the Participant is an Employee on such date. The Grant Date is
            , 20    . 

  
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 3.    Change in Control. Notwithstanding any other provision of
this Agreement, the Restricted Stock shall be vested upon a Change in Control of the Company as provided in Section 12.1 of the Plan. 

4.    Termination of Service. Notwithstanding any other provision of this Agreement, unless otherwise
determined by the Committee in its sole discretion, in the event of the Participant’s Termination of Service for any reason, all unvested Restricted Stock shall be forfeited effective as of the date of the Participant’s Termination of
Service.  
 5.    Pass-Through of Dividends and Voting Rights. Unless otherwise determined by the
Committee in its sole discretion, the Participant shall be entitled to (a) receive all cash dividends paid with respect to the Restricted Stock, and (b) exercise all voting rights associated with the Restricted Stock, regardless of whether
the Period of Restriction has lapsed. 
 6.    Participant’s Representations. The Participant
represents to the Company that: 
  

	 	(a)	The terms and arrangements relating to the grant of Restricted Stock and the offer thereof have been arrived at or made through direct communication with the Company or a person acting in its behalf and the Participant;

  

	 	(b)	The Participant has received a balance sheet and income statement of the Company and as an employee of the Company or one of its Affiliates: 

 

	 	(i)	is thoroughly familiar with the Company’s business affairs and financial condition; and 

  

	 	(ii)	has been provided with or has access to such information (and has such knowledge and experience in financial and business matters that the Participant is capable of utilizing such information) as is necessary to
evaluate the risks, and make an informed investment decision with respect to, the grant of Restricted Stock. 

7.    Nontransferability. Until the end of the Period of Restriction, the Restricted Stock cannot be
(a) sold, transferred, assigned, margined, encumbered, bequeathed, gifted, alienated, hypothecated, pledged or otherwise disposed of, whether by operation of law, whether voluntarily or involuntarily or otherwise, or (b) subject to
execution, attachment or similar process. Any attempted or purported transfer of Restricted Stock in contravention of this Section or the Plan shall be null and void and of no force or effect whatsoever; provided, however, that the shares of
Restricted Stock may be transferred to the Company in connection with exercise of an Option as provided in Section 6.6 of the Plan. 

8.    Issuance of Shares. At or within a reasonable period of time following execution of this Agreement,
the Company shall issue, in book entry form, the Restricted Stock. Within a reasonable period of time following the end of the Period of Restriction, the Company shall issue to the Participant or his beneficiary the number of shares of Restricted
Stock specified in Section 1 of this Agreement, less any withholding required by Section 10 of this Agreement. 

  
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 9.    Restrictive Legend. In the event the Participant is an
“affiliate” of the Company (as defined by Rule 144 promulgated under the Securities Act of 1933, as amended), the Company may require that the shares to be issued to such Participant contain a legend in substantially the following form:

 “THE HOLDER OF THE SHARES EVIDENCED BY THIS CERTIFICATE IS AN “AFFILIATE” OF THE COMPANY (AS DEFINED BY
RULE 144 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED), AND THEREFORE, THE SHARES ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, AND THE APPLICABLE STATE SECURITIES LAWS.” 
 The Company shall issue such additional certificates as may be required
to give effect to Section 14 of this Agreement. 
 Notwithstanding the foregoing provisions of this Section, the Company shall not be
required to deliver any certificates for shares prior to: (a) the end of the Period of Restriction; (b) completing any registration or other qualification of the Shares, which the Company deems necessary or advisable under any federal or
state law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body; and (c) obtaining any approval or other clearance from any federal or state governmental agency or body, which
the Company determines to be necessary or advisable. The Company has no obligation to obtain the fulfillment of the conditions specified in the preceding sentence. As a further condition to the issuance of certificates for shares, the Company may
require the making of any representation or warranty which the Company deems necessary or advisable under any applicable law or regulation.  

10.    Income and Employment Tax Withholding. The Participant shall be solely responsible for paying to the
Company all required federal, state, city and local income and employment taxes which arise on the expiration of the Period of Restriction and the vesting of the shares of Restricted Stock. The Committee, in its sole discretion and subject to such
rules as it may adopt, shall require the Participant to satisfy any withholding tax obligation by having the Company retain shares of Restricted Stock which have a Fair Market Value, determined as of the date of the issuance of such Restricted Stock
to the Participant, equal to the amount of the minimum withholding tax to be satisfied by that retention. 

11.    Mitigation of Excise Tax. The Participant acknowledges that the Restricted Stock issued hereunder is
subject to reduction by the Committee for the reasons specified in Section 14.9 of the Plan. 

12.    Indemnity. The Participant hereby agrees to indemnify and hold harmless the Company and its
Affiliates (and their respective directors, officers and employees), and the Committee, from and against any and all losses, claims, damages, liabilities and expenses based 

  
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upon or arising out of the incorrectness or alleged incorrectness of any representation made by Participant to the Company or any failure on the part of the Participant to perform any agreements
contained herein. The Participant hereby further agrees to release and hold harmless the Company and its Affiliates (and their respective directors, officers and employees) from and against any tax liability, including without limitation, interest
and penalties, incurred by the Participant in connection with the Participant’s participation in the Plan. 

13.    Financial Information. The Company hereby undertakes to deliver to the Participant, at such time as
they become available and so long as the Period of Restriction has not expired and the Restricted Stock has not been forfeited, a balance sheet and income statement of the Company with respect to any fiscal year of the Company ending on or after the
date of this Agreement. 
 14.    Changes in Shares. In the event of any change in the Shares, as
described in Section 4.6 of the Plan, the Committee shall make appropriate adjustment or substitution in the shares of Restricted Stock, all as provided in the Plan. The Committee’s determination in this respect shall be final and binding
upon all parties. 
 15.    Non-Disclosure; Return of Confidential
Information and Other Property. 
  

	 	(a)	Access to Confidential Information. The Participant understands, acknowledges and agrees that during the course of his employment with the Company he has gained or shall gain information regarding, knowledge of
and familiarity with the Confidential Information (as defined in subsection 15(c)) of the Company and any Affiliates and that if the Confidential Information was disclosed by the Participant, the Company or Affiliate would suffer irreparable damage
and harm. The Participant 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. The Participant acknowledges and agrees that the Company and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential Information. 

 

	 	(b)	Non-Disclosure. At all times while the Participant is employed by the Company or any Affiliate, and at all times thereafter, the Participant shall not (i) directly or
indirectly disclose, provide or discuss any Confidential Information with or to any Person (as defined in subsection 15(d) other than those directors, officers, employees, representatives and agents of the Company 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 the Company or any Affiliates, or (B) for the Participant’s own benefit or for
the benefit of any Person other than the Company or any Affiliate. 

  
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	 	(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 the Company 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 the Company or any Affiliate has deemed confidential, proprietary
or nonpublic; 

  

	 	(ii)	trade secrets of the Company 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. The Participant agrees that all Confidential Information is confidential and
is and at all times shall remain the property of, as applicable, the Company or any of the Affiliates. 

  

	 	(d)	Definition of Person. For purposes of this Agreement, the term “Person” shall mean any natural person, proprietorship, partnership, corporation, limited liability corporation, 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. The Participant covenants and agrees: 

  

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

  

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

16.    Non-Competition. 

 

	 	(a)	 Agreement Not to Compete. The Participant hereby understands, acknowledges and agrees that, by virtue of
his positions with the Company and any Affiliates, the Participant has and shall have advantageous familiarity and personal contacts with the customers, wherever located, of the Company and any Affiliates and has and shall have advantageous
familiarity with the business, operations and affairs of the Company and any Affiliates. In addition, the Participant understands, acknowledges and agrees that the business of the Company and its Affiliates is

  
 156 

	 	
highly competitive. Accordingly, at all times while the Participant is employed by the Company and for a one-year period following Termination of Service,
the Participant shall not, in                      County,
                    (State), or any future county or counties in which the Participant has additional job responsibilities,
directly or indirectly, or individually or together with any other Person, as owner, shareholder, investor, member, partner, proprietor, principal, director, officer, employee, manager, agent, representative, independent contractor, consultant or
otherwise: 

  

	 	(i)	engage in or assist another Person in engaging in, or use or permit his name to be used in connection with, any business, operation or activity which competes with any business, operation or activity conducted or
proposed to be conducted by the Company or any Affiliates or which is in the same or a similar line of business as the Company or any Affiliates, at any time during the Participant’s employment with the Company or any Affiliates or during such one-year period following Termination of Service; or 

  

	 	(ii)	finance, join, operate or control any business, operation or activity which competes with any business, operation or activity conducted or proposed to be conducted by the Company or any Affiliates or which is in the
same or a similar line of business as the Company or any Affiliates, at any time during the Participant’s employment with the Company or any Affiliates or during such one-year period following the
Termination of Service; or 

  

	 	(iii)	offer or provide employment to, hire or engage (whether on a full-time, part-time or consulting basis or otherwise) any individual who has been an employee of the Company or any Affiliates within one year prior to such
offer, hiring or engagement. 

 Notwithstanding the foregoing, the restrictions of this Section 16(a) shall not apply to
the Participant after any Termination of Service by the Company without Cause that occurs prior to the date the Restricted Stock becomes vested under Section 2. 
  

	 	(b)	Enforceability. The Participant acknowledges the regional scope of the business of the Company and the Affiliates. Notwithstanding the foregoing, in the event that any provision of this Section is found by a
court of competent jurisdiction to exceed the time, geographic or other restrictions permitted by applicable law in any jurisdiction, then such court shall have the power to reduce, limit or reform (but not to increase or make greater) such
provision to make it enforceable to the maximum extent permitted by law, and such provision shall then be enforceable against the Participant in its reduced, limited or reformed manner; provided, however, that a provision shall be enforceable in its
reduced, limited or reformed manner only in the particular jurisdiction in which a court of competent jurisdiction makes such determination. In addition, the parties agree that the provisions of this Section shall be severable in accordance with
Section 21. 

  
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17.    Non-Solicitation. The Participant hereby understands,
acknowledges and agrees that, by virtue of his positions with the Company and any Affiliates, the Participant has and shall have advantageous familiarity and personal contacts with the customers, wherever located, of the Company or any of the
Affiliates and has and shall have advantageous familiarity with the business, operations and affairs of the Company or any of the Affiliates. In addition, the Participant understands, acknowledges and agrees that the business of the Company and the
Affiliates is highly competitive. Accordingly, at all times while the Participant is employed by the Company or any of the Affiliates and for a one-year period following Termination of Service, the Participant
shall not, directly or indirectly, or individually or together with any other Person, as owner, shareholder, investor, member, partner, proprietor, principal, director, officer, employee, manager, agent, representative, independent contractor,
consultant or otherwise: 
  

	 	(a)	solicit in any manner, seek to obtain or service any business of any Person who is or was a customer or an active prospective customer of the Company or any of the Affiliates during the
one-year period prior to Termination of Service; or 

  

	 	(b)	request or advise any customers, suppliers, vendors or others who were doing business with the Company or any of the Affiliates during the one-year period prior to Termination of
Service, or any other Person, to terminate, reduce, limit or change their business or relationship with the Company or any of the Affiliates; or 

  

	 	(c)	induce, request or attempt to influence any employee of the Company or any of the Affiliates who was employed by the Company or any Affiliates during the one-year period prior to
Termination of Service, to terminate his or her employment with the Company or any of the Affiliates. 

18.    Periods of Noncompliance and Reasonableness of Periods. The restrictions and covenants contained in
Sections 16 and 17 shall be deemed not to run during all periods of noncompliance, the intention of the parties hereto being to have such restrictions and covenants apply during the Term of this Agreement and for the full periods specified in
Sections 16 and 17. The Company and the Participant understand, acknowledge and agree that the restrictions and covenants contained in Sections 16 and 17 are reasonable in view of the nature of the business in which the Company and the Affiliates
are engaged, the Participant’s positions with the Company and the Affiliates and the Participant’s advantageous knowledge of and familiarity with the business, operations, affairs and customers of the Company and the Affiliates. 

The Company’s obligation to pay the amounts otherwise payable to the Participant pursuant to this Agreement shall immediately terminate
in the event that the Participant breaches any of the provisions of Sections 15, 16 or 17. Notwithstanding the foregoing: 
  

	 	(a)	the covenants of the Participant set forth in Sections 15, 16 or 17 shall continue in full force and effect and be binding upon the Participant; 

 

	 	(b)	the Company shall be entitled to the remedies specified in Section 20; and 

  
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	 	(c)	the Company shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorneys fees and expenses) resulting from or relating to the Participant’s breach of any of the
provisions of Sections 15, 16 or 17. 

 19.    Survival of Certain Provisions. Upon any
termination of the Participant’s employment with the Company, the Participant and the Company hereby expressly agree that the provisions of Sections 15, 16, 17, 18, 19 and 20 shall continue to be in full force and effect and binding upon the
Participant and the Company in accordance with the applicable respective provisions of such Sections. 

20.    Remedies. The Participant agrees that the Company or an Affiliate shall suffer irreparable damage and
injury and shall not have an adequate remedy at law in the event of any actual, threatened or attempted breach by the Participant of any provision of Sections 15, 16 or 17. Accordingly, in the event of a breach or a threatened or attempted breach by
the Participant of any provision of Sections 15, 16 or 17, in addition to all other remedies to which the Company and Affiliates are entitled at law, in equity or otherwise, the Company 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 15, 16 or 17. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of the Company or an Affiliate for any breach of or
noncompliance with this Agreement by the Participant but shall be in addition to all other rights and remedies available to the Company or Affiliate at law, in equity or otherwise. 

21.    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 shall not affect any other provision of this Agreement, but this Agreement shall be construed as if such invalid,
illegal or unenforceable provision or provisions (or portion thereof) had never been contained herein. If any provision of this Agreement shall be determined by a court of competent jurisdiction to be unenforceable because of the provision’s
scope, duration or other factor, then such provision shall be considered divisible and the court making such determination shall have the power to reduce or limit (but not increase or make greater) such scope, duration or other factor or to reform
(but not increase or make greater) such provision to make it enforceable to the maximum extent permitted by law, and such provision shall then be enforceable against the appropriate party hereto in its reformed, reduced or limited form; provided,
however, that a provision shall be enforceable in its reformed, reduced or limited form only in the particular jurisdiction in which a court of competent jurisdiction makes such determination. 

22.    Effect of Headings. The descriptive headings of the Sections and, where applicable, subsections, of
this Agreement are inserted for convenience and identification only and do not constitute a part of this Agreement for purposes of interpretation. 

23.    Controlling Laws. Except to the extent superseded by the laws of the United States, the laws of the
State of Indiana, without reference to the choice of law principles thereof, shall be controlling in all matters relating to this Agreement. 

  
 159 

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

  
 160 

 IN WITNESS WHEREOF, the Company, by its officer thereunder duly authorized, and the
Participant, have caused this Restricted Stock Award Agreement to be executed as of the day and year first above written. 
  

							
	HORIZON BANCORP	  		  	PARTICIPANT
				
	By:	 	  
	  		  	  

		 	Craig M. Dwight, President and	  		  	
		 	Chief Executive Officer	  		  	
			
	ATTEST	  		  	
				
	By:	 	  
	  		  	
		 	                    , Chairman,	  		  	
		 	Compensation Committee	  		  	

  
 161

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