Document:

Exhibit 10.1

 

 

SUPPORT AGREEMENT

 

This Support Agreement, dated as of August 3, 2021 (this “Agreement”),
is entered into between Stock Yards Bancorp, Inc., a Kentucky corporation (“SYBT”), and ___________ (“Shareholder”).

 

Recitals

 

A.               
Concurrently with the execution and delivery of this Agreement, SYBT, H. Troutman Merger Subsidiary, Inc., a Kentucky corporation
and direct, wholly-owned subsidiary of SYBT (“Merger Subsidiary”), and Commonwealth Bancshares, Inc., a Kentucky corporation
(“CBI”) and parent bank holding company of Commonwealth Bank & Trust Company, a Kentucky banking corporation (the
“Bank”) are entering into an Agreement and Plan of Merger, dated as of the date of this Agreement (as amended or supplemented
from time to time, the “Merger Agreement”), pursuant to which, among other things, Merger Subsidiary shall be merged
with and into CBI, upon the terms and subject to the conditions set forth in the Merger Agreement. Capitalized terms not otherwise defined
in this Agreement shall have the meanings provided in the Merger Agreement.

 

B.                
As of the date of this Agreement, Shareholder is the record and beneficial owner and has the power to vote the number of shares
of CBI Common Stock set forth, and in the manner reflected, on Attachment A to this Agreement (the shares listed on Attachment
A, together with all shares of CBI Common Stock subsequently acquired by the Shareholder during the term of this Agreement, are referred
to in this Agreement as the “Owned Shares”).

 

C.                
As an inducement and condition to entering into the Merger Agreement, SYBT has required that Shareholder agree, and Shareholder
has agreed, to enter into this Agreement.

 

NOW, THEREFORE, the parties hereto agree as follows:

 

aRTICLE I

VOTING AGREEMENT

 

Section 1.1Agreement to Vote. Shareholder hereby agrees
that, during the time this Agreement is in effect, at the CBI Meeting, and at any other meeting of the shareholders of CBI, however called,
or any adjournment or postponement thereof, Shareholder shall:

 

(a)       appear at each meeting or otherwise
cause the Owned Shares to be counted as present at each meeting for purposes of calculating a quorum; and

 

(b)       vote (or cause to be voted),
in person or by proxy, all of the Owned Shares (i) in favor of (A) the adoption and approval of the Merger, the Merger Agreement and the
transactions contemplated thereby, (B) any other matter that is required to facilitate the transactions contemplated by the Merger Agreement
and (C) any proposal to adjourn or postpone the meeting to a later date if there are not sufficient votes to approve the Merger, the Merger
Agreement and the transactions contemplated thereby; (ii) against any action or agreement that could reasonably be expected to result
in a breach of any covenant, representation or warranty or any other obligation or agreement of CBI contained in the Merger Agreement
or of Shareholder contained in this Agreement; and (iii) against any Acquisition Proposal or any other action, agreement or transaction
that is intended, or could reasonably be expected, to materially impede, interfere or be inconsistent with, delay, postpone, discourage
or materially and adversely affect consummation of the Merger or the transactions contemplated by the Merger Agreement or the performance
by Shareholder of Shareholder’s obligations under this Agreement.

 

     

     

    

Section 1.2Shareholder Capacity. Notwithstanding anything to the contrary
contained in this Agreement, Shareholder makes no agreement or understanding in this Agreement in Shareholder’s capacity as a director
or officer, as applicable, of CBI or the CBI Subsidiaries, and nothing in this Agreement: (a) will limit or affect any actions or omissions
taken by Shareholder in Shareholder’s capacity as such a director or officer, as applicable, of CBI or the CBI Subsidiaries, including
in exercising rights under the Merger Agreement, and no such actions or omissions shall be deemed a breach of this Agreement; or (b) will
be construed to prohibit, limit or restrict Shareholder from exercising in a manner consistent with the terms of the Merger Agreement
Shareholder’s fiduciary duties as a director or officer, as applicable, to CBI, the CBI Subsidiaries or their respective shareholders.

 

ARTICLE II

REPRESENTATIONS AND WARRANTIES OF SHAREHOLDER

 

Shareholder represents and warrants to SYBT as follows:

 

Section 2.1Authority; Authorization.

 

(a)       Shareholder has all requisite
power, right, authority and capacity to execute and deliver this Agreement, to perform Shareholder’s obligations under this Agreement,
and to consummate the transactions contemplated by this Agreement.

 

(b)       This Agreement has been duly
and validly executed and delivered by Shareholder, and the execution, delivery and performance of this Agreement by Shareholder and the
consummation of the transactions contemplated by this Agreement have been duly authorized by all necessary action on the part of Shareholder,
and no other actions or proceedings on the part of Shareholder are necessary to authorize this Agreement or to consummate the transactions
contemplated by this Agreement.

 

(c)       Assuming the authorization, execution
and delivery of this Agreement by SYBT, this Agreement constitutes a legal, valid and binding obligation of Shareholder, enforceable against
Shareholder in accordance with its terms.

 

(d)       If Shareholder is married and
the Owned Shares set forth by the name of Shareholder on the signature page to this Agreement constitute property owned jointly with Shareholder’s
spouse, this Agreement has been executed by Shareholder’s spouse and constitutes the valid and binding agreement of Shareholder’s
spouse. If this Agreement is being executed in a representative or fiduciary capacity, the person signing this Agreement has full power
and authority to enter into and perform this Agreement.

 

Section 2.2Non-Contravention. The execution and delivery
of this Agreement by Shareholder does not, and the consummation of the transactions contemplated by this Agreement and the compliance
with the provisions of this Agreement will not (a) to the knowledge of Shareholder, require Shareholder to obtain the consent or approval
of, or make any filing with or notification to, any governmental or regulatory authority, domestic or foreign, (b) require the consent
or approval of any other person pursuant to any agreement, obligation or instrument binding on Shareholder, (c) conflict with or violate
any organizational document or law, rule, regulation, order, judgment or decree applicable to Shareholder, or (d) violate any other agreement
to which Shareholder is a party including, without limitation, any voting agreement, shareholder agreement, irrevocable proxy or voting
trust. The Owned Shares are not, with respect to the voting or transfer of the Owned Shares, subject to any other agreement, including
any voting agreement, shareholder agreement, irrevocable proxy or voting trust.

 

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Section 2.3Ownership of Securities. On the date of this
Agreement, the Owned Shares set forth on Attachment A to this Agreement are owned of record or beneficially by Shareholder in the
manner reflected on Attachment A, include all of the shares of CBI Common Stock owned of record or beneficially by Shareholder,
and are free and clear of any proxy or voting restriction, claims, liens, encumbrances and security interests (other than as created by
this Agreement). As of the date of this Agreement Shareholder has, and at the CBI Meeting or any other shareholder meeting of CBI in connection
with the Merger, the Merger Agreement and the transactions contemplated by the Merger Agreement (except respecting Owned Shares that Shareholder
is permitted to Transfer (as defined in Section 3.2(a) below) pursuant to this Agreement), Shareholder will have, sole voting power and
sole dispositive power with respect to all of the Owned Shares. For purposes of this Agreement, the term “beneficial ownership”
shall be interpreted in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended.

 

Section 2.4Absence of Litigation. There is no suit,
action, investigation or proceeding pending or, to the knowledge of Shareholder, threatened against or affecting Shareholder or any of
its affiliates before or by any Governmental Entity that could reasonably be expected to impair the ability of Shareholder to perform
its obligations under this Agreement or to consummate the transactions contemplated by this Agreement on a timely basis.

 

Section 2.5Reliance by SYBT. Shareholder understands
and acknowledges that SYBT is entering into the Merger Agreement in reliance upon Shareholder’s execution, delivery and performance
of this Agreement.

 

ARTICLE III

COVENANTS

 

Section 3.1No Solicitation; Notice of Acquisitions; Proposals
Regarding Prohibited Transactions.

 

(a)       Shareholder agrees that during
the term of this Agreement Shareholder shall not, and shall not permit any investment banker, financial advisor, attorney, accountant
or other representative retained by Shareholder, directly or indirectly, to (i) take any of the actions specified in Section 5.14 of the
Merger Agreement, (ii) participate in, directly or indirectly, a “solicitation” of “proxies” (as those terms are
used in the rules of the SEC) or powers of attorney or similar rights to vote, or seek to advise or influence any person with respect
to the voting of, any shares of CBI Common Stock in connection with any vote or other action on any matter of a type described in Section
1.1(b) of this Agreement, other than to recommend that shareholders of CBI vote in favor of the adoption and approval of the Merger Agreement
and the Merger and as otherwise expressly permitted by this Agreement or the Merger Agreement. Except as permitted by the Merger Agreement,
Shareholder agrees immediately to cease and cause to be terminated any activities, discussions or negotiations conducted before the date
of this Agreement with any persons other than SYBT with respect to any possible Acquisition Proposal and will take all necessary steps
to inform any investment banker, financial advisor, attorney, accountant or other representative retained by him, her or it of the obligations
undertaken by Shareholder pursuant to this Section 3.1.

 

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(b)       Shareholder hereby agrees to
notify SYBT promptly (and, in any event, within 24 hours) in writing of the number of any additional shares of CBI Common Stock of which
Shareholder acquires beneficial or record ownership on or after the date hereof.

 

Section 3.2Restrictions on Transfer and Proxies; Non-Interference.

 

(a)       Shareholder agrees that it will
not, prior to the termination of this Agreement, Transfer or agree to Transfer any Owned Shares other than with SYBT’s prior written
consent. For purposes of this Agreement, “Transfer” shall mean to, other than in connection with the Merger or the
other transactions contemplated by the Merger Agreement, offer, sell, contract to sell, pledge, assign, distribute by gift or donation,
or otherwise dispose of (or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition
of (whether by actual disposition or effective economic disposition due to cash settlement or otherwise)), directly or indirectly, any
shares of capital stock of CBI or any securities convertible into, or exercisable or exchangeable for such capital stock, or publicly
announce an intention to effect any such transaction. Notwithstanding the foregoing, Shareholder may make gifts of Owned Shares during
the term of this Agreement if the donee enters into an agreement containing covenants governing the voting and transfer of the transferred
Owned Shares equivalent to those set forth in this Agreement.

 

(b)       Shareholder hereby covenants
and agrees that, except for this Agreement, it (i) has not entered into, and shall not enter into at any time while this Agreement remains
in effect, any voting agreement or voting trust with respect to the Owned Shares, (ii) has not granted, and except for proxies granted
as contemplated by Section 1.1(b), shall not grant at any time while this Agreement remains in effect, a proxy, consent or power of attorney
with respect to the Owned Shares, (iii) has not taken any action, and shall not take any action at any time while this Agreement remains
in effect, that would or is reasonably likely to (A) make any representation or warranty contained in this Agreement untrue or incorrect
in any material respect or (B) have the effect of preventing Shareholder from performing its obligations under this Agreement.

 

Section 3.3Dissenters’ Rights. Shareholder agrees
not to exercise any right to dissent (including, without limitation, under any rights set forth in Sections 271B.13-010 through 271B.13-310
of the KBCA) as to any Owned Shares which may arise with respect to the Merger or the transactions contemplated by the Merger Agreement.

 

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Section 3.4Stop Transfer. Shareholder agrees that it
shall not request that CBI register the transfer (book-entry or otherwise) of any certificate or uncertificated interest representing
any Owned Shares, unless the transfer is made in compliance with this Agreement.

 

Section 3.5Further Assurances; Cooperation.

 

(a)       Shareholder, without further
consideration, will (i) use all reasonable efforts to cooperate with SYBT and CBI in furtherance of the transactions contemplated by the
Merger Agreement, (ii) promptly execute and deliver all additional documents that may be reasonably necessary in furtherance of the transactions
contemplated by the Merger Agreement, and take all reasonable actions as are necessary or appropriate to consummate the transactions contemplated
by the Merger Agreement, and (iii) promptly provide any information, and make all filings, reasonably requested by SYBT for any regulatory
application or filing made or approval sought in connection with the transactions contemplated by the Merger Agreement (including filings
with any Regulatory Agencies).

 

(b)       Shareholder consents to the publication
and disclosure in the Proxy Statement (and, as and to the extent otherwise required by law or any Regulatory Agency or Governmental Entity,
in any other documents or communications provided by SYBT or CBI to any Regulatory Agency or Governmental Entity or to security holders
of SYBT or CBI) of Shareholder’s identity and beneficial and record ownership of the Owned Shares, the nature of Shareholder’s
commitments, arrangements and understandings under and relating to this Agreement and the Merger Agreement and any additional requisite
information regarding the relationship of Shareholder with SYBT and the SYBT Subsidiaries and/or CBI, the Bank, and the other CBI Subsidiaries.

 

Section 3.6Non-Competition and Non-Solicitation.

 

(a)       Shareholder agrees that for (x)
the period between the date of this Agreement and the Effective Time (except for service on the Board of Directors or as an officer of
CBI or Bank) and (y) for a period of three (3) years following the Effective Time, Shareholder will not:

 

(i)       engage in a Competitive Business
(as defined below) as an employee, shareholder, partner, member, manager, officer or director; provided that the foregoing shall
not prohibit the Shareholder from (A) continuing to engage in the activities in which the Shareholder is currently a participant which
are expressly set forth on Attachment B attached hereto (provided, however, for the avoidance of doubt, the Shareholder’s
continuing to engage in the activities set forth on Attachment B does not relieve the Shareholder of the Shareholder’s obligations
under Section 3.6(a)(ii) or (iii) of this Agreement), or (B) holding up to five (5%) of the outstanding securities of any class of any
publicly held company which is a Competitive Business;

 

(ii)       (A) solicit or otherwise attempt
in any manner to cause or otherwise encourage any persons who are employees of CBI, the Bank, any other CBI Subsidiary, SYBT, or any SYBT
Subsidiary prior to, at, or after the Effective Time (“Employees” and each individually an “Employee”)
to leave the employ of CBI, the Bank, any other CBI Subsidiary, SYBT or any of the SYBT Subsidiaries, or (B) hire any Employee, or cause,
induce or encourage any Competitive Business to hire any Employee; or

 

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(iii)       (A) induce, persuade, encourage
or influence, or attempt to induce, persuade, encourage or influence, any person (as such term is interpreted in Section 8.6 of the Merger
Agreement) having a business relationship with CBI, the Bank, any other CBI Subsidiary, SYBT or any SYBT Subsidiary, to discontinue, reduce
or restrict such relationship or (B) solicit, target or divert, or attempt to solicit, target or divert, the deposits, loans or other
products and services from persons who are or were depositors, borrowers or customers of CBI, the Bank, any other CBI Subsidiary, SYBT
or any SYBT Subsidiary prior to, at, or after the Effective Time; provided, however, nothing in this Section 3.6(a)(iii) shall prevent
the Shareholder from engaging in the Shareholder’s personal, family, business or employment activities as a customer of a Competitive
Business.

 

(iv)       For purposes of this Agreement,
the term “Competitive Business” shall mean the business or operations of a bank, thrift, credit union, investment,
mortgage banking, financial planning or wealth management or investment advisor, trust company, industrial bank, insurance company, or
any other financial institution or bank holding company either located or doing business either (A) within the Kentucky counties of Boone,
Hardin, Jefferson, Kenton, and/or Shelby, or (B) within any county contiguous to any county referred to in item (A) of this Section 3.6(a)(iv).

 

(b)       Shareholder acknowledges and
agrees that the business conducted by SYBT and the SYBT Subsidiaries is highly competitive and that the covenants made by Shareholder
in this Section 3.6 are made as a necessary inducement for SYBT to enter into the Merger Agreement and to consummate the transactions
contemplated by the Merger Agreement. It is the desire and intent of the parties to this Agreement that the provisions of this Section
3.6 shall be enforced to the fullest extent permissible under the laws and public policies of each jurisdiction in which enforcement is
sought. It is expressly understood and agreed that although Shareholder and SYBT each consider the restrictions contained in this Section
3.6 to be reasonable, if a final determination is made by a court of competent jurisdiction or an arbitrator that the time or territory
or any other restriction contained in this Section 3.6 is unenforceable against any party, the provisions of this Section 3.6 shall be
deemed amended to apply as to the maximum time and territory and to the maximum extent as the applicable court may judicially determine
or indicate to be enforceable. The parties further agree to execute all documents necessary to evidence the applicable amendment.

 

(c)       Shareholder acknowledges and
agrees that the provisions of this Agreement are fair, reasonable and necessary to protect SYBT’s legitimate business interests
and to protect the value of SYBT’s acquisition of CBI.

 

(d)       Neither party will, at any
time during the three (3) year period referred to in Section 3.6(a) of this Agreement, disparage the other party, or the business conducted
by such other party, or any of such other party’s stockholders, members, directors, managers, officers, employees or agents.

 

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ARTICLE IV

Termination

 

Section 4.1Termination. This Agreement shall terminate
upon the earlier to occur of (i) the termination of the Merger Agreement in accordance with its terms and (ii) the date that is three
(3) years following the Effective Time.

 

Section 4.2Effect of Termination. In the event of termination
of this Agreement pursuant to Section 4.1, this Agreement shall become void and of no effect with no liability on the part of any party
hereto; provided, however, no termination of this Agreement shall relieve any party to this Agreement from any liability
for any breach of this Agreement occurring prior to the termination of this Agreement or any obligations under this Agreement.

 

ARTICLE V

MISCELLANEOUS

 

Section 5.1Amendment; Waivers. Any provision of this
Agreement may be amended or waived if, and only if, the amendment or waiver is in writing and signed (a) in the case of an amendment,
by SYBT and Shareholder, and (b) in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay
by any party in exercising any right, power or privilege under this Agreement shall operate as a waiver the applicable right, power or
privilege, nor shall any single or partial exercise any right, power or privilege preclude any other or further exercise of the applicable
right, power or privilege or the exercise of any other right, power or privilege.

 

Section 5.2Expenses. Subject to Section 5.8, all costs
and expenses incurred in connection with this Agreement and the transactions contemplated by this Agreement shall be paid by the party
incurring the expenses.

 

Section 5.3Notices. All notices, requests, instructions
or other communications or documents to be given or made hereunder by one party to the other party shall be in writing and (a) served
by personal delivery upon the party for whom it is intended, (b) sent by an internationally recognized overnight courier service upon
the party for whom it is intended, or (c) sent by email, provided that the transmission of the e-mail is promptly confirmed:

 

(i) if to Shareholder: The address provided on Attachment A
hereto.

 

(ii)if to SYBT:

 

Stock Yards Bancorp, Inc.

1040 E. Main St.

Louisville, KY 40206

Attention: James A. Hillebrand, CEO

Email: Ja.Hillebrand@syb.com

 

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with a copy to :

Stock Yards Bancorp, Inc.

1040 E. Main St.

Louisville, KY 40206

Attention: Craig Bradley, General Counsel

Email: craig.bradley@syb.com

 

and with a copy (which shall not constitute notice) to:

 

Frost Brown Todd LLC

400 West Market Street, 32nd Floor

Louisville, KY 40202

Attention: R. James Straus

  Nathan L. Berger

Email: jstraus@fbtlaw.com

   nberger@fbtlaw.com

 

 

Section 5.4Entire Agreement; Assignment. This Agreement
constitutes the entire agreement among the parties with respect to the subject matter of this Agreement and supersedes all other prior
agreements and understandings, both written and oral, among the parties with respect to the subject matter of this Agreement. Neither
this Agreement, nor any of the rights and obligations under this Agreement, shall be transferred by Shareholder without the prior written
consent of SYBT.

 

Section 5.5Parties in Interest. This Agreement shall
be binding upon and inure solely to the benefit of each party to this Agreement and their respective successors, heirs, and permitted
assigns. Nothing in this Agreement, express or implied, is intended to or shall confer upon any other person any rights, benefits or remedies
of any nature whatsoever under or by reason of this Agreement.

 

Section 5.6Severability. Whenever possible, each provision
or portion of any provision of this Agreement shall be interpreted in a manner as to be effective and valid under applicable law, but
if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
applicable law or rule in any jurisdiction, the invalidity, illegality or unenforceability shall not affect any other provision or portion
of any provision in the applicable jurisdiction, and this Agreement shall be reformed, construed and enforced in the applicable jurisdiction
so that the invalid, illegal or unenforceable provision or portion thereof shall be interpreted to be only so broad as is enforceable.

 

Section 5.7Specific Performance; Remedies. Each of the
parties to this Agreement agrees that this Agreement is intended to be legally binding and specifically enforceable pursuant to its terms
and that SYBT would be irreparably harmed if any of the provisions of this Agreement are not performed in accordance with their specific
terms and that monetary damages would not provide adequate remedy in such event. Accordingly, in the event of any breach or threatened
breach by Shareholder of any covenant or obligation contained in this Agreement, in addition to any other remedy to which SYBT may be
entitled (including monetary damages), SYBT shall be entitled to seek injunctive relief to prevent breaches of this Agreement and to specifically
enforce the terms and provisions of this Agreement. Shareholder further agrees that neither SYBT, Merger Subsidiary nor any other person
shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any remedy
referred to in this Section 5.7, and Shareholder irrevocably waives any right it may have to require the obtaining, furnishing or posting
of any bond or similar instrument. All rights, powers and remedies provided under this Agreement or otherwise available in respect of
this Agreement at law or in equity shall be cumulative and not alternative, and the exercise of any right, power or remedy thereof by
any party shall not preclude the simultaneous or later exercise of any other such right, power or remedy by such party.

 

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Section 5.8Governing Law.

 

(a)       This Agreement shall be governed
and construed in accordance with the laws of the Commonwealth of Kentucky without regard to any applicable conflicts of law.

 

(b)       Each party agrees that it
will bring any action or proceeding in respect of any claim arising out of or related to this Agreement or the transactions contemplated
hereby exclusively in the federal or state courts located in Louisville, Jefferson County, Kentucky (the “Chosen Courts”),
and, solely in connection with claims arising under this Agreement or the transactions that are the subject of this Agreement, (i) irrevocably
submits to the exclusive jurisdiction of the Chosen Courts, (ii) waives any objection to laying venue in any action or proceeding
in the Chosen Courts, (iii) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction over
any party and (iv) agrees that service of process upon any party in any action or proceeding will be effective if notice is given
in accordance with Section 5.3. Notwithstanding any other provision in this Agreement, in the event of any action arising out of
or resulting from this Agreement, the prevailing party shall be entitled to recover its costs and expenses (including reasonable attorneys'
fees and expenses) incurred in connection with the action.

 

Section 5.9Waiver
of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE EXTENT PERMITTED BY LAW
AT THE TIME OF INSTITUTION OF THE APPLICABLE LITIGATION, ANY RIGHT THE PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.  EACH PARTY
CERTIFIES AND ACKNOWLEDGES THAT: (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH PARTY UNDERSTANDS AND HAS CONSIDERED
THE IMPLICATIONS OF THIS WAIVER, (C) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) EACH PARTY HAS BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.9.

 

Section 5.10Headings. The headings contained in this
Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

 

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Section 5.11Counterparts. This Agreement may be executed
in two or more counterparts (including by facsimile, email of a PDF copy, or other electronic means) all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each of the parties and delivered to the other
parties, it being understood that all parties need not sign the same counterpart.

 

Section 5.12Delivery by Facsimile or Electronic Transmission. 
This Agreement and any signed agreement or instrument entered into in connection with this Agreement, and any amendments or waivers hereto
or thereto, to the extent signed and delivered by means of a facsimile machine or by email delivery of a “.pdf” format data
file, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding
legal effect as if it were the original signed version thereof delivered in person.  No party hereto or to any agreement or
instrument entered into in connection with this Agreement shall raise the use of a facsimile machine or email delivery of a “.pdf”
format data file to deliver a signature to this Agreement or any amendment hereto or the fact that any signature or agreement or instrument
was transmitted or communicated through the use of a facsimile machine or email delivery of a “.pdf” format data file as a
defense to the formation of a contract and each party hereto forever waives any defense based on the foregoing.

 

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IN WITNESS WHEREOF, each of the parties has caused this Agreement to be
duly executed as of the day and year first above written.

 

SYBT:

 

Stock Yards Bancorp, Inc.

 

By: ____________________________

James A. Hillebrand, CEO

 

 

SHAREHOLDER

 

_______________________________

 

Print Name: ______________________

 

 

SHAREHOLDER’S SPOUSE

 

____________________________________

 

Print Name: ___________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Support Agreement]

 

 

 

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Attachment A

 

Owned Shares

 

	Name and Address of Shareholder	Owned Shares
	
    [NAME]

    [                     ]

    [                     ]

    Phone: [        ]

    Email: [          ]

     
	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

Attachment B

 

Current ActivitiesExhibit 10.2

 

 

INVESTOR AGREEMENT

 

 

THIS INVESTOR AGREEMENT(this “Agreement”)
is entered into as of August 3, 2021, among STOCK YARDS BANCORP, INC., a Kentucky corporation (“SYBT”) and those
shareholders of CBI (as defined below) whose names appear on the signature page of this Agreement and who beneficially own or control
shares of common stock of COMMONWEALTH BANCSHARES, INC., a Kentucky corporation (“CBI”) (such shareholders are
collectively referred to in this Agreement as the “Principal Shareholders,” and individually as a “Principal
Shareholder”).

 

RECITALS

 

A. As of the date hereof, each Principal Shareholder
is the beneficial owner of the number of shares of CBI’s common stock, no par value per share (“CBI Common Stock”),
as is set forth opposite the Principal Shareholder’s name on the signature page attached hereto;

 

B. SYBT has entered into an Agreement and Plan of Merger
dated as of August 3, 2021 (the “Merger Agreement”), among SYBT, H. Troutman Merger Subsidiary, Inc., a wholly-owned
subsidiary of SYBT (“Merger Subsidiary”), and CBI pursuant to which SYBT will acquire CBI by means of a merger of Merger
Subsidiary with and into CBI (the “Merger”);

 

C. As part of the consideration to be received in the
Merger, each Principal Shareholder will receive shares of SYBT common stock, no par value per share (“SYBT Common Stock”),
in exchange for its shares of CBI Common Stock;

 

D. The Principal Shareholders have indicated a desire
to be long-term holders of the SYBT Common Stock and to have a role in identifying a person for service on the SYBT Board of Directors
(the “Board”);

 

E. SYBT has indicated a desire to elect a Mutually
Acceptable Director (as defined herein) to the Board and to include such Mutually Acceptable Director on each slate of nominees for election
to the Board proposed by management of SYBT, to recommend election of such nominee to the shareholders of SYBT and otherwise use reasonable
best efforts to cause such nominee to be elected to the Board;

 

F. The respective board of directors of each of SYBT
and CBI has adopted a resolution approving the Merger Agreement and the transactions contemplated thereby; and

 

G. Pursuant to the Merger Agreement, it is a condition
to SYBT’s obligation to consummate the Merger that each of the Principal Shareholders have entered into this Agreement with SYBT.

 

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AGREEMENTS

 

In consideration of the foregoing premises, which are
incorporated herein by this reference, and the covenants and agreements of the parties herein contained, the parties hereto, intending
to be legally bound, hereby agree as follows:

 

Section 1. Definitions; Construction. All terms
that are capitalized and used herein (and that are not otherwise specifically defined herein) are used in this Agreement as defined in
the Merger Agreement. The parties hereby incorporate by this reference the principles of construction set forth in Section 8.6
of the Merger Agreement. For purposes of this Agreement, the terms “beneficially own” or “beneficial ownership”
shall be interpreted in accordance with Rule 13d-3 under the Exchange Act, and a person’s beneficial ownership shall be calculated
in accordance with the provisions of such rule (in each case, irrespective of whether or not such rule is actually applicable in such
circumstance). For purposes of this Agreement, an “affiliate” of a specified person is any person that directly or indirectly
controls, is controlled by, or is under common control with, the specified person.

 

Section 2. Representations and Warranties. Each
Principal Shareholder represents and warrants that as of the date hereof:

 

(a) the Principal Shareholder owns
beneficially and of record the number of shares of CBI Common Stock as is set forth opposite the Principal Shareholder’s name on
the signature page attached hereto;

 

(b) neither the execution nor delivery
of this Agreement by the Principal Shareholder nor the Principal Shareholder’s compliance with the terms of this Agreement will
(i) to the knowledge of the Principal Shareholder, require the Principal Shareholder to obtain the consent or approval of, or make any
filing with or notification to, any governmental or regulatory authority, domestic or foreign, (ii) require the consent or approval of
any other person pursuant to any agreement, obligation or instrument binding on the Principal Shareholder, (iii) conflict with or violate
any organizational document or law, rule, regulation, order, judgment or decree applicable to the Principal Shareholder, or (iv) violate
any other agreement to which Shareholder is a party including, without limitation, any voting agreement, shareholder agreement, irrevocable
proxy or voting trust;

 

(c) except with respect to the Support
Agreement as may have been executed in connection with the Merger Agreement, the Principal Shareholder’s shares of CBI Common Stock,
and the SYBT Common Stock to be received in the Merger, are not, with respect to the voting or transfer of the shares, subject to any
other agreement, including any voting agreement, shareholder agreement, irrevocable proxy or voting trust; and

 

(d)
the Principal Shareholder has all necessary power and authority to enter into this Agreement and further represents and warrants that
this Agreement is the legal, valid and binding agreement of the Principal Shareholder, and is enforceable against the Principal Shareholder
in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting
creditors’ rights generally or rules of law governing specific performance, injunctive relief, other equitable remedies and
other general principles of equity.

 

    	 	2	 

     

    

Section 3. Lock-Up Agreement.

 

(a)       Each Principal
Shareholder hereby agrees that the Principal Shareholder (i) will not, at any time, directly or indirectly, without the prior written
consent of SYBT, Transfer any shares of SYBT Common Stock the Principal Shareholder received in the Merger during the ninety (90) consecutive
day period commencing on the Closing Date (the “Initial Lock-Up Period”), and (ii) will not, either individually or
collectively with the other Principal Shareholders, at any time, directly or indirectly, without the prior written consent of SYBT, Transfer
any shares of SYBT Common Stock the Principal Shareholder received in the Merger in an amount in excess of one percent (1%) of the issued
and outstanding shares of SYBT Common Stock during any calendar quarter commencing on the first day of the calendar quarter immediately
following the end of the Initial Lock-Up Period and continuing until the termination of this Agreement (the “Extended Lock-Up
Period”; together with the Initial Lock-Up Period, the “Lock-Up Period”); provided that the restrictions
in this Section 3(a)(ii) shall not apply to (x) any block trade in compliance with this Section 3(a) or (y) any Transfer of shares
pursuant to the Underwritten Shelf Takedown and/or the Piggyback Registration (as each is defined in the Registration Rights Agreement).
During the Lock-Up Period, a Principal Shareholder may request in writing that SYBT consider engaging in a block trade transaction pursuant
to which SYBT would purchase shares of SYBT Common Stock from the Principal Shareholder upon mutually agreed terms (“Block Trade
Request”). SYBT shall consider and promptly respond to any Block Trade Request; provided that SYBT shall have no obligation
to engage in a block trade transaction with any Principal Shareholder, and each Principal Shareholder acknowledges that without the prior
written consent of SYBT, which consent shall not be unreasonably conditioned, withheld or delayed, the Principal Shareholder may not engage
in a block trade transaction during the Lock-Up Period with any party other than SYBT.

 

(b)       The restrictions
set forth in this Section 3 shall not apply to Transfers of SYBT Common Stock the Principal Shareholders received in the Merger
to any affiliate or immediate family member of the Principal Shareholders, or to a trust for the benefit of the Principal Shareholders
or any affiliate or immediate family member of the Principal Shareholders; provided, that the Principal Shareholder and the proposed transferee
provide notice to SYBT of the Transfer and the transferee executes a binding joinder to this Agreement. Further, each Principal Shareholder
agrees and consents to the entry of stop transfer instructions with SYBT and its transfer agent and registrar against the Transfer in
violation of this Agreement of shares of SYBT Common Stock acquired by the Principal Shareholder in the Merger. In furtherance of the
foregoing, SYBT is hereby authorized to decline to make or authorize any Transfer of securities if the Transfer would constitute a violation
or breach of this Agreement. For purposes of this Agreement, “Transfer” means to offer, sell, contract to sell, pledge,
assign, distribute by gift or donation, or otherwise dispose of (or enter into any transaction which is designed to, or might reasonably
be expected to, result in the disposition of (whether by actual disposition or effective economic disposition due to cash settlement or
otherwise)), directly or indirectly, any shares of SYBT Common Stock or any securities convertible into, or exercisable or exchangeable
for such capital stock, or publicly announce an intention to effect any such transaction. For purposes of this Agreement, all shares of
SYBT Common Stock acquired by the Principal Shareholders in the Merger which are Transferred for the account of any and all Principal
Shareholders during any calendar quarter shall be aggregated for the purpose of determining the limitation on the amount of securities
Transferred.

 

    	 	3	 

     

    

(c)       The restrictions
set forth in this Section 3 shall apply to Transfers of SYBT Common Stock the Principal Shareholders received in the Merger pursuant to
an effective registration statement of SYBT as set forth in the Registration Rights Agreement between the parties, except for Transfers
pursuant to permitted block trades and the Underwritten Shelf Takedown and the Piggyback Registration (as each is defined in the Registration
Rights Agreement).

 

Section 4. Status as SYBT “Insider.”

 

(a) Each Principal Shareholder hereby acknowledges
receipt of SYBT’s “Insider Trading Policy for Director/Executive Management” (as it may be amended from time to time,
the “Policy”). Each Principal Shareholder agrees that the Principal Shareholder, for itself and its affiliates, will
comply with the Policy’s requirements, including those restrictions regarding trading windows and also material, nonpublic information),
as if the Principal Shareholder were an “Insider” as defined in the Policy (except that by reason of execution of this Agreement,
the Principal Shareholder will not be subject to the Policy’s provisions related to Section 16 of the Exchange Act).

 

(b) With respect to the prohibition on a pledge of
SYBT securities as collateral for a loan set forth in the Policy, each of the Principal Shareholders may pledge such Buyer securities
as collateral for a loan from a commercial bank with more than $5 billion in assets, provided that the proposed loan satisfies the following
criteria: (i) a maximum loan-to-value ratio of 60% during the term of the loan, (ii) the Principal Shareholder covenants that during the
term of the loan the Principal Shareholder will maintain an unencumbered amount of cash and marketable securities (excluding SYBT Common
Stock) equal to 25% of the amount outstanding on the loan, (iii) the Principal Shareholder shall provide an annual personal financial
statement to SYBT along with a certification that the loan continues to satisfy this Section 4(b) criteria, (iv) the pledgee consents
to be bound by the provisions of Section 6 of this Agreement before the sale of any pledged SYBT Common Stock, and (v) the Principal Shareholder
provides at least five business days prior notice to SYBT before the proposed execution of documents evidencing the proposed pledge and
agrees to consider in good faith any comments of SYBT with respect to the proposed pledge. The pledgee will not be required to be bound
by the volume limitations on Transfers set forth in this Agreement. Any pledge in accordance with the terms of this Section 4(b) will
not constitute a Transfer for purposes of the volume limitations set forth in this Agreement.

 

Section 5. Identification of Mutually Acceptable
Director. 

 

(a)       During
the term of this Agreement, the Principal Shareholders shall have the opportunity to identify a qualified individual designated by the
Principal Shareholders to serve as a member of the Board; provided, however that the parties reasonably and mutually agree on the individual
(the “Mutually Acceptable Director”) pursuant to the provisions of this Section 5. The parties agree to act in good
faith with respect to their obligations under this Section 5 and take no action to circumvent the intent hereof or to unfairly deprive
the other party of its rights hereunder. The initial Mutually Acceptable Director will be Laura L. Wells, who shall be elected to the
Board immediately following the Closing Date subject to the applicable governing documents for such Board service (e.g., Articles
of Incorporation, Bylaws, Corporate Governance Guidelines, Committee Charters, as applicable). If the Mutually Acceptable Director is
willing to serve, subject to the annual review and nomination process applicable to all members of the Board by the Board’s nominating
and corporate governance committee (the “Committee”), SYBT agrees to include the Mutually Acceptable Director on the
slate of nominees to be elected to the Board, to recommend the election of the Mutually Acceptable Director to the shareholders of SYBT
and otherwise use its reasonable best efforts to cause the Mutually Acceptable Director to be elected to the Board.

 

    	 	4	 

     

    

(b)       If
the Mutually Acceptable Director resigns, dies, is unwilling or unable to serve, does not successfully complete the annual review and
nomination process, or is not elected to the Board by SYBT’s shareholders, with respect to the Board seat held by the Mutually Acceptable
Director, Darrell R. Wells and Margaret C. Wells (or either of them if the other shall become disabled or die), on behalf of the Principal
Shareholders, will recommend to the Committee a qualified individual (the “Nominee”) to serve as a member of the Board.
If the Committee and the Board concur that the Nominee reasonably qualifies, subject to applicable governing documents, for such Board
service, then the Board will take the action necessary (i) to appoint the Nominee to the Board to fill the applicable vacancy if the incumbent
Mutually Acceptable Director has resigned or died or (ii) to cause the Nominee to be submitted to the shareholders at the next annual
meeting of shareholders with the Board’s recommendation for election if the incumbent Mutually Acceptable Director has announced
the intention not to seek re-election. Upon either such appointment or election, the Nominee shall become the Mutually Acceptable Director.

 

Section 6. Standstill Covenant. Each Principal
Shareholder hereby agrees that during the term of this Agreement, without the prior written consent of SYBT, the Principal Shareholder
will not, and will not permit its affiliates to: (a) acquire, offer or propose to acquire, or agree or seek to acquire, or solicit the
acquisition of, by purchase or otherwise, any equity securities of SYBT if the aggregate amount of shares of SYBT Common Stock beneficially
owned by the Principal Shareholders would be equal to or exceed 10% of the issued and outstanding shares of SYBT Common Stock; (b) form,
join or in any way participate in, or enter into any agreement, arrangement or understanding with, a “group” (within
the meaning of Section 13(d)(3) of the Exchange Act and the rules and regulations thereunder) with respect to any equity or equity-linked
or voting securities of SYBT except if all members of the group are Principal Shareholders; (c) commence any tender or exchange offer
for any equity securities of SYBT or rights as to any securities of SYBT; (d) enter into or agree, offer, propose or seek (whether publicly
or otherwise) to enter into, or otherwise be involved in or part of, any acquisition transaction, merger or other business combination
relating to all or part of SYBT or its Subsidiaries or any acquisition transaction for all or part of the assets of SYBT or its Subsidiaries
or any of their respective business or any recapitalization, restructuring, change in control or similar extraordinary transaction involving
SYBT or its Subsidiaries; (e) call or seek to call a meeting of the shareholders of SYBT or initiate any shareholder proposal for action
by shareholders of SYBT; (f) enter into any discussions, negotiations, arrangements or understandings with any other person with respect
to any of the foregoing activities except for other Principal Shareholders; (g) advise, assist, encourage, act as a financing source for
or otherwise invest in any other person in connection with any of the foregoing; (h) request that SYBT amend, waive or otherwise consent
to any action inconsistent with any provision of this Section 6; (i) nominate, seek to nominate or propose any person for election
to the Board except as otherwise set forth in this Agreement; (j) seek to amend the Articles of Incorporation of SYBT or the Bylaws of
SYBT; (k) publicly disclose through its authorized representatives any intention, plan or arrangement inconsistent with any of the foregoing;
or (l) expressly take an initiative with respect to SYBT which could require SYBT to make a public announcement regarding (i) such initiative
or (ii) any of the foregoing activities.

 

    	 	5	 

     

    

Section 7. Termination. Notwithstanding any
other provision of this Agreement, this Agreement shall automatically terminate on the earliest of: (a) the date the Merger Agreement
is terminated pursuant to a provision of Article VII thereof, as the termination provisions may be amended by SYBT and CBI from time to
time; (b) following the Closing, the date upon which the Principal Shareholders beneficially own in the aggregate less than 5% of the
issued and outstanding shares of SYBT Common Stock; (c) following the Closing, the date which is 60 days after there is no Mutually Acceptable
Director serving on the Board; and (d) the date which is the fifth anniversary date of the Closing.

 

Section 8. Amendment and Modification. This
Agreement may be amended, modified or supplemented at any time by the written approval of the amendment, modification or supplement by
SYBT and all of the Principal Shareholders.

 

Section 9. Entire Agreement; Headings. This
Agreement evidences the entire agreement among the parties hereto with respect to the matters provided for herein and there are no agreements,
representations or warranties with respect to the matters provided for herein other than those set forth herein and in the Merger Agreement
and any written agreements related thereto. The headings contained in this Agreement are for reference purposes only and shall not affect
in any way the meaning or interpretation of this Agreement.

 

Section 10. Informed Action. Each Principal
Shareholder acknowledges that the Principal Shareholder has had an opportunity to be advised by counsel of his, her or its choosing with
regard to this Agreement and the transactions and consequences contemplated hereby. Each Principal Shareholder further acknowledges that
the Principal Shareholder has received a copy of the form of Merger Agreement and is familiar with its terms.

 

Section 11. Severability. Whenever possible,
each provision or portion of any provision of this Agreement shall be interpreted in a manner as to be effective and valid under applicable
law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect
under any applicable law or rule in any jurisdiction, the invalidity, illegality or unenforceability shall not affect any other provision
or portion of any provision in the applicable jurisdiction, and this Agreement shall be reformed, construed and enforced in the applicable
jurisdiction so that the invalid, illegal or unenforceable provision or portion thereof shall be interpreted to be only so broad as is
enforceable.

 

Section 12. Counterparts. This Agreement may
be executed in two or more counterparts (including by facsimile, email of a PDF copy, or other electronic means) all of which shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each of the parties and delivered
to the other parties, it being understood that all parties need not sign the same counterpart.

 

    	 	6	 

     

    

Section 13. Delivery by Facsimile or Electronic
Transmission. This Agreement and any signed agreement or instrument entered into in connection with this Agreement, and any amendments
or waivers hereto or thereto, to the extent signed and delivered by means of a facsimile machine or by email delivery of a “.pdf”
format data file, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the
same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto or to any agreement or
instrument entered into in connection with this Agreement shall raise the use of a facsimile machine or email delivery of a “.pdf”
format data file to deliver a signature to this Agreement or any amendment hereto or the fact that any signature or agreement or instrument
was transmitted or communicated through the use of a facsimile machine or email delivery of a “.pdf” format data file as a
defense to the formation of a contract and each party hereto forever waives any defense based on the foregoing.

 

Section 14. Governing Law. This Agreement shall
be governed and construed in accordance with the laws of the Commonwealth of Kentucky without regard to any applicable conflicts of law.
Each party (i) agrees that it will bring any action or proceeding in respect of any claim arising out of or related to this Agreement
or the transactions contemplated hereby exclusively in the federal or state courts located in Louisville, Jefferson County, Kentucky (the
“Chosen Courts”), and, solely in connection with claims arising under this Agreement or the transactions that are the subject
of this Agreement, (ii) irrevocably submits to the exclusive jurisdiction of the Chosen Courts, (iii) waives any objection to laying venue
in any action or proceeding in the Chosen Courts, (iv) waives any objection that the Chosen Courts are an inconvenient forum or do not
have jurisdiction over any party and (v) agrees that service of process upon any party in any action or proceeding will be effective if
notice is given in accordance with Section 17. Notwithstanding any other provision in this Agreement, in the event of any action arising
out of or resulting from this Agreement, the prevailing party shall be entitled to recover its costs and expenses (including reasonable
attorneys' fees and expenses) incurred in connection with the action.

 

Section 15. Successors; Assignment. This Agreement
shall be binding upon and inure to the benefit of SYBT, and its successors and permitted assigns, and the Principal Shareholders and their
respective spouses, executors, personal representatives, administrators, heirs, legatees, guardians and other legal representatives. This
Agreement shall survive the death or incapacity of any Principal Shareholder. This Agreement may be assigned only by SYBT, and then only
to an affiliate of SYBT.

 

Section 16. Specific Performance. Each Principal
Shareholder agrees that irreparable damage would occur if any of the provisions of this Agreement were not performed by the Principal
Shareholder in accordance with their specific terms or were otherwise breached. Accordingly, in addition to the agreements set forth in
Section 14, each Principal Shareholder agrees that SYBT will be entitled to seek an injunction or injunctions to prevent breaches hereof
by the undersigned and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction,
this being in addition to any other remedy to which SYBT is entitled at law or in equity, and that the Principal Shareholder waives the
posting of any bond or security in connection with any proceeding related thereto.

 

    	 	7	 

     

    

Section 17. Notice. All notices, consents, waivers
and other communications under this Agreement shall be in writing (which shall include electronic mail) and shall be deemed to have been
duly given if delivered by hand or by nationally recognized overnight delivery service (receipt requested), mailed by registered or certified
U.S. mail (return receipt requested) postage prepaid or sent by electronic mail (with confirmation) to the parties at the following addresses
(or at such other address for a party as shall be specified by like notice):

 

If to SYBT, to:

 

 

Stock Yards Bancorp, Inc.

P.O. 32890

Louisville, KY 40232

Telephone: (502) 625-2564

Fax: (502) 625-0848

Attention: Craig Bradley

 

With copy to:

 

Frost Brown Todd LLC

400 W Market St #3200,

Louisville, KY 40202

Telephone: 502-568-0221

Fax: 502-581-1087

Attention: R. James Straus

 

 

If to a Principal Shareholder, to:
the address set forth below the Principal Shareholder’s name on the signature page to this Agreement.

 

or to such other Person or place as the Principal Shareholder shall furnish
to SYBT or SYBT shall furnish to the Principal Shareholders in writing. Except as otherwise provided herein, all such notices, consents,
waivers and other communications shall be effective: (a) if delivered by hand, when delivered; (b) if delivered by overnight delivery
service, on the next Business Day after deposit with such service; (c) if mailed in the manner provided in this Section 17, five
(5) Business Days after deposit with the U.S. Postal Service; and (d) if by e-mail, when sent.

 

    	 	8	 

     

    

Section 18. WAIVER OF JURY TRIAL. EACH PARTY ACKNOWLEDGES
AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE
EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE EXTENT PERMITTED BY LAW AT THE TIME OF INSTITUTION OF THE APPLICABLE
LITIGATION, ANY RIGHT THE PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (A) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH PARTY MAKES
THIS WAIVER VOLUNTARILY, AND (D) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION.

 

 

[THE REMAINDER OF THIS PAGE IS LEFT INTENTIONALLY BLANK]

 

[SIGNATURE PAGE FOLLOWS]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	9	 

     

    

IN WITNESS WHEREOF, the parties hereto have executed this Agreement
individually, or have caused this Agreement to be executed by their respective officers, on the day and year first written above.

 

STOCK YARDS BANCORP, INC.

 

By: /s/ James A. Hillebrand

Name: James A. Hillebrand

 

Title: Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Investor Agreement]

 

 

     

     

    

	PRINCIPAL SHAREHOLDERS	 	SHARES OWNED
	 	 	 
	 	 	 
	Darrell R. Wells	 	 	1,601,571	 
	4350 Brownsboro Rd. STE 310	 	 	 	 
	Louisville, KY 40207	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	/s/ Darrell R. Wells	 	 	 	 
	Darrell R. Wells	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Margaret C. Wells	 	 	236,860	 
	4350 Brownsboro Rd. STE 310	 	 	 	 
	Louisville, KY 40207	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	/s/ Margaret C. Wells	 	 	 	 
	Margaret C. Wells	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Darrell R. Wells Trust	 	 	34,429	 
	4350 Brownsboro Rd. STE 310	 	 	 	 
	Louisville, KY 40207	 	 	 	 

 

 

By: Commonwealth Bank & Trust Company, Co-Trustee

 

By: /s/ John W. Key

Name: John W. Key

Title: President
and CEO

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