Document:

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                          HEARTLAND BANCSHARES, INC.

                                 EXHIBIT 10.4

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                           HEARTLAND BANCSHARES, INC.
                             1999 STOCK OPTION PLAN
                        EFFECTIVE AS OF SEPTEMBER 3, 1999

                                   1. PURPOSE

        The primary purpose of the Heartland Bancshares, Inc. 1999 Stock Option
Plan (the "Plan") is to encourage and enable eligible directors, officers and
key employees of Heartland Bancshares, Inc. (the "Company") and its subsidiaries
to acquire proprietary interests in the Company through the ownership of Common
Stock of the Company. The Company believes that directors, officers and key
employees who participate in the Plan will have a closer identification with the
Company by virtue of their ability as shareholders to participate in the
Company's growth and earnings. The Plan also is designed to provide motivation
for participating directors, officers and key employees to remain in the employ
of and to give greater effort on behalf of the Company. It is the intention of
the Company that the Plan provide for the award of "incentive stock options"
qualified under Section 422 of the Internal Revenue Code of 1986, as amended
(the "Code") and the regulations promulgated thereunder, as well as the award of
non-qualified stock options. Accordingly, the provisions of the Plan related to
incentive stock options shall be construed so as to extend and limit
participation in a manner consistent with the requirements of Section 422 of the
Code.

                                 2. DEFINITIONS

        The following words or terms shall have the following meanings:

         (a)      "Agreement" shall mean a stock option agreement between the
Company and an Eligible Employee or Eligible Participant pursuant to the terms
of this Plan.

         (b)      "Board of Directors" shall mean the Board of Directors of the
Company.

         (c)      "Committee" shall mean the committee appointed by the Board of
Directors to administer the Plan, if any, as set forth in Section 5 of the Plan.

         (d)      "Company" shall mean Heartland Bancshares, Inc., a Florida
corporation.

         (e)      "Eligible Employee(s)" shall mean key employees regularly
employed by the Company or a Subsidiary (including officers, whether or not they
are directors) as the Board of Directors or the Committee shall select from time
to time.

         (f)      "Eligible Participant(s)" shall mean directors, officers and
key employees of the Company and its Subsidiaries.

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         (g)      "Market Price" shall mean the closing price of the Company's
Common Stock on the date in question, as quoted by the Nasdaq National Market or
the Nasdaq SmallCap Market (or other nationally recognized quotation service).
If the Company's Common Stock is not traded on the Nasdaq Stock Market but is
registered on a national securities exchange, "Market Price" shall mean the
closing sales price of the Company's Common Stock on such national securities
exchange. If the Company's shares of Common Stock are not traded on a national
securities exchange or through any other nationally recognized quotation
service, then "Market Price" shall mean the fair market value of the Company's
Common Stock as determined by the Board of Directors or the Committee, acting in
good faith, under any method consistent with the Code, or Treasury Regulations
thereunder, as the Board of Directors or the Committee shall in its discretion
select and apply at the time of the grant of the option concerned. Subject to
the foregoing, the Board of Directors or the Committee, in fixing the market
price, shall have full authority and discretion and be fully protected in doing
so.

         (h)      "Optionee" shall mean an Eligible Employee or Eligible
Participant having a right to purchase Common Stock under an Agreement.

         (i)      "Option(s)" shall mean the right or rights granted to Eligible
Employees or Eligible Participants to purchase Common Stock under the Plan.

         (j)      "Plan" shall mean this Heartland Bancshares, Inc. 1999 Stock
Option Plan.

         (k)      "Shares," "Stock," or "Common Stock" shall mean shares of the
$.10 par value common stock of the Company.

         (l)      "Subsidiary" or "Subsidiaries" shall mean any corporation(s)
of which the Company owns or controls, directly or indirectly, a majority of the
voting stock.

         (m)      "Ten Percent Owner" shall mean an individual who, at the time
an Option is granted, owns or controls, directly or indirectly, more than ten
percent (10%) of the total combined voting power of all classes of stock of the
Company or a Subsidiary.

                                3. EFFECTIVE DATE

        The effective date of the Plan (the "Effective Date") shall be the date
the Plan is adopted by the Board of Directors. The Plan must subsequently be
approved by the shareholders of the Company by the affirmative vote of the
holders of not less than a majority of the Shares voted at a meeting at which a
quorum is present, which shareholder vote must be taken no later than twelve
months after the date the Plan is adopted by the Board of Directors. In the
event shareholder approval of the adoption of the Plan is not obtained within
the aforesaid twelve month period, any Options granted under the Plan shall be
non-qualified stock options.

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                           4. SHARES RESERVED FOR PLAN

        The shares of the Company's Common Stock to be sold to Eligible
Employees and Eligible Participants under the Plan may at the election of the
Board of Directors be either treasury shares or shares originally issued for
such purpose. A maximum of one hundred thirty thousand Shares shall be reserved
and made available for issuance pursuant to the Plan, provided, however, that
such Shares shall be subject to the adjustments provided in Section 8(h). Any
Shares subject to an Option which for any reason expires or is terminated
unexercised may again be subject to an Option under the Plan.

                          5. ADMINISTRATION OF THE PLAN

        The Plan shall be administered by the Board of Directors or the
Committee. The Committee shall be comprised of not less than two members
appointed by the Board of Directors of the Company from among its members, each
of whom qualifies as a "Non-Employee Director" as such term is defined in Rule
16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or any successor regulation.

        Within the limitations described herein, the Board of Directors of the
Company or the Committee shall administer the Plan, select the Eligible
Employees and Eligible Participants to whom Options will be granted, determine
the number of shares to be optioned to each Eligible Employee and Eligible
Participant and interpret, construe and implement the provisions of the Plan.
The Board of Directors or the Committee shall also determine the price to be
paid for the Shares upon exercise of each Option, the period within which each
Option may be exercised, and the terms and conditions of each Option granted
pursuant to the Plan. The Board of Directors and Committee members shall be
reimbursed for out-of-pocket expenses reasonably incurred in the administration
of the Plan.

        If the Plan is administered by the Board of Directors, a majority of the
members of the Board of Directors shall constitute a quorum, and the act of a
majority of the members of the Board of Directors present at any meeting at
which a quorum is present, or acts approved in writing by all members of the
Board of Directors shall be the acts of the Board of Directors. If the Plan is
administered by the Committee, a majority of the members of the Committee shall
constitute a quorum, and the acts of a majority of the members present at any
meeting at which a quorum is present, or acts approved in writing by all of the
members of the Committee shall be the acts of the Committee.

                                 6. ELIGIBILITY

        Options granted pursuant to Section 8 shall be granted only to Eligible
Employees. Options granted pursuant to Section 9 may be granted to Eligible
Employees and to Eligible Participants.

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                             7. DURATION OF THE PLAN

        The Plan shall remain in effect until all Shares subject to or which may
become subject to the Plan shall have been purchased pursuant to Options granted
under the Plan; provided that Options under the Plan must be granted within ten
years from the Effective Date.

                         8. QUALIFIED INCENTIVE OPTIONS

        It is intended that Options granted under this Section 8 shall be
qualified incentive stock options under the provisions of Section 422 of the
Code and the regulations thereunder or corresponding provisions of subsequent
revenue laws and regulations in effect at the time such Options are granted.
Such Options shall be evidenced by stock option agreements in such form and not
inconsistent with this Plan as the Committee or the Board of Directors shall
approve from time to time, which Agreements shall contain in substance the
following terms and conditions:

         (a)      Price. The purchase price for shares purchased upon exercise
will be equal to the Market Price on the day the Option is granted; provided,
that the purchase price of stock deliverable upon the exercise of a qualified
incentive stock option granted to a Ten Percent Owner under this Section 8 shall
be not less than 110% of the Market Price on the day the Option is granted, as
determined by the Board of Directors or the Committee, but in no case less than
the par value of such stock.

         (b)      Number of Shares. The Agreement shall specify the number of
Shares which the Optionee may purchase under such Option, as determined by the
Board of Directors or the Committee.

         (c)      Exercise of Options. Shares subject to an Option may be
purchased in whole or in part from time to time by the Optionee of such Option
in accordance with the terms of the Agreement governing the Option, but in no
event later than ten years from the date of grant of the Option. Notwithstanding
the foregoing, Shares subject to an Option which is a qualified incentive stock
option granted to a Ten Percent Owner under this Section 8 may be purchased from
time to time but in no event later than five years from the date of grant of the
Option.

         (d)      Medium and Time of Payment. Stock purchased pursuant to an
Agreement shall be paid for in full at the time of purchase. Payment of the
purchase price shall be in cash or, in lieu of payment of all or part of the
purchase price in cash, the Optionee may surrender to the Company Common Stock
valued at the Market Price on the date of exercise of the Option in accordance
with the terms of the Agreement. Upon receipt of payment, the Company shall,
without transfer or issue tax, deliver to the Optionee (or other person entitled
to exercise the Option) a certificate or certificates for such Shares.

         (e)      Rights as a Shareholder. An Optionee shall have no rights as a
shareholder with respect to any Shares covered by an Option until the date of
issuance of the stock certificate to the

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Optionee for such Shares. Except as otherwise expressly provided in the Plan, no
adjustments shall be made for dividends (ordinary or extraordinary, whether in
cash, securities or other property) or distributions or other rights for which
the record date is prior to the date such stock certificate is issued.

         (f)      Nonassignability of Option. No Option shall be assignable or
transferable by an Optionee except by will or by the laws of descent and
distribution. An Option may only be exercised, during the lifetime of the
Optionee of such Option, by such Optionee.

         (g)      Effect of Termination of Employment or Death. In the event an
Optionee during his or her lifetime ceases to be an employee of the Company or
of any Subsidiary of the Company for any reason (including retirement) other
than death or permanent and total disability, any Option or unexercised portion
thereof which was otherwise exercisable by such Optionee on the date of
termination of employment shall expire unless exercised within a period of three
months from the date on which such Optionee ceased to be an employee, but in no
event after the term provided in such Optionee's Agreement.

         In the event an Optionee ceases to be an employee of the Company or of
any Subsidiary of the Company for any reason (including retirement) other than
death or permanent and total disability prior to the time that an Option or
portion thereof becomes exercisable, such Option or portion thereof which is not
then exercisable shall terminate and be null and void. Whether authorized leave
of absence for military or government service shall constitute termination of
employment for the purpose of this Plan shall be determined by the Board of
Directors or the Committee, which determination shall be final and conclusive.

        In the event an Optionee ceases to be an employee of the Company or any
Subsidiary of the Company by reason of death or permanent and total disability,
any Option or unexercised portion thereof which was otherwise exercisable by
such Optionee on the date such Optionee ceased employment shall expire unless
exercised within a period of one year from the date on which such Optionee
ceased to be an employee, but in no event after the term provided in such
Optionee's Agreement. In the event that an Optionee during his or her lifetime
ceases to be an employee of the Company or any Subsidiary of the Company by
reason of death or permanent and total disability, any Option or portion thereof
which was not exercisable on the date such Optionee ceased employment may, in
the discretion of the Board of Directors or the Committee, be accelerated and
become immediately exercisable for a period of one year from the date on which
the Optionee ceased to be an employee, but in no event shall the exercise period
extend past the term provided in the Optionee's Agreement.

        "Permanent and total disability" as used in this Plan shall be as
defined in Section 22(e)(3) of the Code.

        In the event of the death of an Optionee, the Option shall be
exercisable by his or her personal representatives, heirs or legatees, as
provided herein.

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         (h)      Recapitalization. In the event dividends are payable in Common
Stock or in the event there are splits, subdivisions or combinations of shares
of Common Stock, the number of Shares available under the Plan shall be
increased or decreased proportionately, as the case may be, and the number and
Option exercise price of Shares deliverable upon the exercise thereafter of any
Option theretofore granted shall be increased or decreased proportionately, as
the case may be, as determined to be proper and appropriate by the Board of
Directors or the Committee.

         (i)      Reorganization. In the event the Company is merged or
consolidated with another corporation and the Company is not the surviving
corporation, or in case the property or stock of the Company is acquired by
another corporation, or in case of a separation, reorganization,
recapitalization or liquidation of the Company, the Board of Directors of the
Company, or the Board of Directors of any corporation assuming the obligations
of the Company hereunder, shall either (i) make appropriate provision for the
protection of any outstanding Options by the substitution on an equitable basis
of appropriate stock of the Company, or of the merged, consolidated or otherwise
reorganized corporation which will be issuable in respect to the shares of
Common Stock of the Company, provided only that the excess of the aggregate fair
market value of the Shares subject to option immediately after such substitution
over the purchase price thereof is not more than the excess of the aggregate
fair market value of the Shares subject to option immediately before such
substitution over the purchase price thereof, or (ii) provide written notice to
the Optionee that the Option (including, in the discretion of the Board of
Directors, any portion of such Option which is not then exercisable) must be
exercised within sixty days of the date of such notice or it will be terminated.
If any adjustment under this Section 8(i) would create a fractional Share or a
right to acquire a fractional Share, such shall be disregarded and the number of
Shares available under the Plan and the number of Shares covered under any
Options previously granted pursuant to the Plan shall be the next lower number
of Shares, rounding all fractions downward. An adjustment made under this
Section 8(i) by the Board of Directors shall be conclusive and binding on all
affected persons.

        Except as otherwise expressly provided in this Plan, the Optionee shall
have no rights by reason of any subdivision or consolidation of shares of stock
of any class, or the payment of any stock dividend or any other increase or
decrease in the number of shares of stock of any class, or by reason of any
dissolution, liquidation, merger, or consolidation or spin-off of assets or
stock of another corporation; and any issue by the Company of shares of stock of
any class, or securities convertible into shares of stock of any class, shall
not affect, and no adjustment by reason thereof shall be made with respect to,
the number or prices of Shares subject to an Option.

        The grant of an Option pursuant to the Plan shall not affect in any way
the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure or to merge or
to consolidate or to dissolve, liquidate or sell, or transfer all or any part of
its business or assets.

         (j)      Annual Limitation. The aggregate fair market value (determined
at the time the Option is granted) of the Shares with respect to which incentive
stock options are exercisable for the first

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time by an Optionee during any calendar year (under all incentive stock option
plans of the Company and its Subsidiaries) shall not exceed $100,000. Any excess
over such amount shall be deemed to be related to and part of a non-qualified
stock option granted pursuant to Section 9.

         (k)      General Restriction. Each Option shall be subject to the
requirement that if at any time the Board of Directors shall determine, in its
reasonable discretion, that the listing, registration or qualification of the
Shares subject to such Option upon any securities exchange or under any state or
federal law, or the consent or approval of any government regulatory body, is
necessary or desirable as a condition of, or in connection with, the granting of
such Option or the issue or purchase of Shares thereunder, such Option may not
be exercised in whole or in part unless such listing, registration,
qualification, consent or approval shall have been effected or obtained free of
any conditions not acceptable to the Board of Directors. Alternatively, such
Options shall be issued and exercisable only upon such terms and conditions and
with such restrictions as shall be necessary or appropriate to effect exemption
from such listing, registration, or other qualification requirement.

                            9. NON-QUALIFIED OPTIONS

        The Board of Directors or the Committee may grant to Eligible Employees
or Eligible Participants Options under the Plan which are not qualified
incentive stock options under the provisions of Section 422 of the Code. Such
non-qualified options shall be evidenced by Agreements in such form and not
inconsistent with this Plan as the Board of Directors or the Committee shall
approve from time to time, which Agreements shall contain in substance the same
terms and conditions as set forth in Section 8 hereof with respect to qualified
incentive stock options; provided, however, that:

                  (i)      the limitations set forth in Sections 8(a) and 8(c)
with respect to Ten Percent Owners shall not be applicable to non-qualified
options granted to any Ten Percent Owner;

                  (ii)     the limitations set forth in Section 8(g) with
respect to termination of employment or death shall not be applicable to
non-qualified option grants, and any such limitations shall be determined on a
case by case basis by the Board of Directors or the Committee at the time of the
non-qualified option grant;

                  (iii)    the limitation set forth in Section 8(j) with respect
to the annual limitation of incentive stock options shall not be applicable to
non-qualified option grants; and

                  (iv)     non-qualified options may be granted at a purchase
price equal to not less than 75% of the Market Price on the day the Option is
granted.

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                            10. AMENDMENT OF THE PLAN

        The Plan may at any time or from time to time be terminated, modified or
amended at a meeting of the shareholders of the Company at which a quorum is
present by the affirmative vote of the holders of a majority of the Shares voted
on such issue. The Board of Directors may at any time and from time to time
modify or amend the Plan in any respect, except that without shareholder
approval the Board of Directors may not (1) increase the maximum number of
Shares for which Options may be granted under the Plan (other than increases due
to changes in capitalization as referred to in Section 8(h) hereof), or (2)
change the class of persons eligible for qualified incentive options. The
termination or any modification or amendment of the Plan shall not, without the
written consent of an Optionee, affect his or her rights under an Option or
right previously granted to him or her. With the written consent of the Optionee
affected, the Board of Directors or the Committee may amend outstanding option
agreements in a manner not inconsistent with the Plan. Without employee consent,
the Board of Directors may at any time and from time to time modify or amend
outstanding option agreements in such respects as it shall deem necessary in
order that incentive options granted hereunder shall comply with the appropriate
provisions of the Code and regulations thereunder which are in effect from time
to time respecting "Qualified Incentive Options." The Company's Board of
Directors may also suspend the granting of Options pursuant to the Plan at any
time and may terminate the Plan at any time; provided, however, no such
suspension or termination shall modify or amend any Option granted before such
suspension or termination unless (1) the affected participant consents in
writing to such modification or amendment or (2) there is a dissolution or
liquidation of the Company.

                               11. BINDING EFFECT

        All decisions of the Board of Directors or the Committee involving the
implementation, administration or operation of the Plan or any offering under
the Plan shall be binding on the Company and on all persons eligible or who
become eligible to participate in the Plan.

                            12. APPLICATION OF FUNDS

        The proceeds received by the Company from the sale of Common Stock
pursuant to Options exercised hereunder will be used for general corporate
purposes.

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                          HEARTLAND BANCSHARES, INC.

                                 EXHIBIT 10.5

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                           HEARTLAND BANCSHARES, INC.
                        INCENTIVE STOCK OPTION AGREEMENT

         THIS INCENTIVE STOCK OPTION AGREEMENT (this "Option Agreement") is made
and entered into as of the __________ day of ___________________, _______ by and
between HEARTLAND BANCSHARES, INC. (the "Company") and
_______________________________ ("Participant");

                                   WITNESSETH:

         The Board of Directors of the Company has adopted that certain 1999
Stock Option Plan, as amended (the "Plan"), a copy of which is attached hereto
as Exhibit "A" and incorporated herein by reference. Pursuant to the terms of
the Plan and that certain employment agreement dated February 25, 1999, by and
among the Company, Heartland National Bank (the "Bank") and Participant (the
"Employment Agreement"), the Board of Directors has selected Participant to
participate in the Plan and desires to grant to Participant certain incentive
stock options to purchase shares of the Company's authorized $.10 par value
common stock ("Stock"), subject to the terms and conditions hereinafter set
forth.

         NOW, THEREFORE, in consideration of the mutual promises, agreements and
covenants contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

                       1. INCORPORATION OF PLAN PROVISIONS

         This Option Agreement is subject to and is to be construed in all
respects in a manner which is consistent with the terms of the Plan, the
provisions of which are hereby incorporated by reference into this Option
Agreement. Unless specifically provided otherwise, all terms used in this Option
Agreement shall have the same meaning as in the Plan.

                               2. GRANT OF OPTION

         Subject to the further terms and conditions of this Option Agreement,
Participant is hereby granted an option to purchase __________________
(___________) shares of Stock, effective as of the date first written above.
This stock option is intended to be an Incentive Stock Option as provided in ss.
422 of the Internal Revenue Code. In the event that there is a conflict between
the terms of the Employment Agreement and the terms of this Option Agreement,
the terms of this Option Agreement shall control.

                          3. FAIR MARKET VALUE OF STOCK

         The Board of Directors has determined, in good faith and in its best
judgment, that the fair market value per share of Stock as of the date this
stock option is granted is $10.00.

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                                 4. OPTION PRICE

         The Board of Directors has determined that the price for each share of
Stock purchased under this Option Agreement shall be $10.00.

                             5. EXPIRATION OF OPTION

         The option to acquire Stock pursuant to this Option Agreement shall
expire (to the extent not previously exercised) upon the first to occur of the
following:

                  (i)      _________________________ (the tenth anniversary of
the date of grant of the option);

                  (ii)     The date which is sixty days following the date which
Participant ceases his employment with the Company or any subsidiary of the
Company, otherwise than as a result of Participant's death or total disability;

                  (iii)    The date which is the first anniversary of the date
upon which Participant ceases to be employed by the Company, or any subsidiary
of the Company, by reason of Participant's death or total disability; or

                  (iv)     The date upon which Participant ceases his employment
with the Company or any subsidiary of the Company, for any reason (including
death or total disability) other than termination of the Employment Agreement by
the Company or the Bank without cause (as defined in the Employment Agreement),
with respect to any portion of this option that is not exercisable on such date.

                              6. EXERCISE OF OPTION

         (a)      Subject to subsection (b) of this Article 6, unless this
option earlier lapses or expires pursuant to Article 5 hereof, this option shall
be exercisable with respect to the full number of shares subject to this Option
Agreement as follows:

                _____________________________________________

                _____________________________________________

                _____________________________________________

         (b)      Notwithstanding subsection (a) of this Article 6, in the event
the Employment Agreement is terminated by the Company or the Bank without cause
(as defined in the Employment Agreement), this option shall become fully
exercisable (to the extent not previously exercised).

         (c)      To the extent this option becomes exercisable in accordance
with the foregoing, Participant may exercise this stock option, in whole or in
part, from time to time. The option exercise price may be paid by Participant
either (i) in cash, (ii) by surrender of shares of Stock owned by Participant
for more than six months on the date of surrender and which have a fair market
value on the date of surrender equal to the aggregate exercise price of the
shares as to which such option shall be exercised, or (iii) shares of Stock
issued or issuable in connection with the exercise of this option.

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         Notwithstanding the foregoing, Participant shall be permitted to pay
the exercise price of this option in shares of Stock pursuant to clauses (ii)
and (iii) above only if an organized trading market in the Stock exists on the
date of exercise of this option. In addition, any payment of the option exercise
price pursuant to the aforementioned clause (iii) shall be made only with the
prior consent of the Board of Directors of the Company.

         For the purposes of this Article 6, an "organized trading market" shall
be deemed to exist on the date of exercise of the option if: (a) the Stock is
listed on a national securities exchange, or (b) the Stock has been quoted on
the National Association of Securities Dealers Automated Quotation System
("Nasdaq") for the 15 trading days preceding the date of exercise of the option,
or (c) bid and asked quotations for the Stock have been published by the
National Quotation Bureau or other recognized inter-dealer quotation publication
(other than Nasdaq) during 20 of the 30 trading days preceding the date of
exercise of the option. In the event that an organized trading market for the
Stock exists on the date of exercise of the option, Participant shall be given
credit against the option exercise price hereunder for such shares surrendered
equal to (i) if the Stock is listed on a national securities exchange or is
quoted on the Nasdaq National Market, the last actual sales transaction price
reported on the day preceding exercise of the option, or, if there were no
actual sales transactions reported for such date, on the date next preceding
such date on which actual sales transactions were reported, or (ii) if the Stock
is quoted on Nasdaq (other than the Nasdaq National Market) or by the National
Quotation Bureau or other recognized inter-dealer quotation publication, the
average of the high and low price quotations on the day preceding exercise of
the option, or, if there were no price quotations for such date, on the date
next preceding such date on which there were high and low price quotations for
the Stock.

                              7. MANNER OF EXERCISE

         This stock option may be exercised by written notice to the Secretary
of the Company specifying the number of shares to be purchased and signed by
Participant or such other person who may be entitled to acquire Stock under this
Option Agreement. If any such notice is signed by a person other than
Participant, such person shall also provide such other information and
documentation as the Secretary of the Company may reasonably require to assume
that such person is entitled to acquire Stock under the terms of the Plan and
this Option Agreement. After receipt of the notice and any other assurances
requested by the Company under this Article 7, and upon receipt of the full
option price, the Company shall issue to the person giving notice of exercise
under this Option Agreement the number of shares specified in such notice.

                       8. RESTRICTIONS ON TRANSFERABILITY

         The stock option granted hereunder shall not be transferable by
Participant otherwise than by will or by the laws of descent and distribution,
and such stock option shall be exercisable during Participant's lifetime only by
Participant.

              9. FURTHER RESTRICTIONS ON EXERCISE AND SALE OF STOCK

         The Board of Directors may, in its sole discretion, prohibit this
Option from being exercised

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by the holder hereof in the event that (i) there is not on file with the
Securities and Exchange Commission an effective Registration Statement covering
the option shares on Form S-8, or similar form promulgated by the Securities and
Exchange Commission, and (ii) the Board is not reasonably satisfied that the
offer and sale of such option shares to the option holder will be exempt in fact
from the registration requirements of the Securities Act of 1933, as amended,
and such state securities laws as shall be applicable. The Board of Directors
may condition the exercise of this Option upon its receipt of such
representations, factual assurances and legal opinions as it shall deem
necessary to determine and document the availability of any such exemption and
may further condition such exercise upon such undertakings by the holder hereof
or such restriction upon the transferability of the shares to be acquired
hereunder as it shall determine to be necessary to effectuate and protect the
claim to any such exemption.

         Nothing contained in this section shall be construed to obligate the
Company to, or to grant any right to the holder of this Option to, cause the
Company to file any Registration Statement; or, if any such Registration
Statement is filed, to prepare any additional prospectus, to file any amendments
to the Registration Statement, or to continue said Registration Statement in
effect.

                     10. REORGANIZATION AND RECAPITALIZATION

         In the event that dividends are payable in Common Stock of the Company
or in the event there are splits, subdivisions or combinations of shares of
Common Stock of the Company, the number of Shares available under the Plan shall
be increased or decreased proportionately, as the case may be, and the number of
Shares deliverable upon the exercise thereafter of any Option theretofore
granted shall be increased or decreased proportionately, as the case may be,
without change in the aggregate purchase price.

         In case the Company is merged or consolidated with another corporation
and the Company is not the surviving corporation, or in case the property or
stock of the Company is acquired by another corporation, or in case of a
separation, reorganization, recapitalization or liquidation of the Company, the
Board of Directors of the Company, or the Board of Directors of any corporation
assuming the obligations of the Company hereunder, shall either (i) make
appropriate provision for the protection of any outstanding Options by the
substitution on an equitable basis of appropriate stock of the Company, or of
the merged, consolidated or otherwise reorganized corporation which will be
issuable in respect to the shares of Common Stock of the Company, provided only
that the excess of the aggregate fair market value of the shares subject to
option immediately after such substitution over the purchase price thereof is
not more than the excess of the aggregate fair market value of the shares
subject to option immediately before such substitution over the purchase price
thereof, or (ii) upon written notice to the Participant provide that the Option
(including the shares not then exercisable) must be exercised within sixty days
of the date of such notice or it will be terminated.

                                       4
<PAGE>   6

         IN WITNESS WHEREOF, the Company has caused this Option Agreement to be
executed by a member of the Board of Directors or a duly authorized officer of
the Company, and Participant has executed this Option Agreement as of the date
first written above.

                                        HEARTLAND BANCSHARES, INC.

                                        By:
                                           ------------------------------------
                                            Name:
                                                 ------------------------------
                                            Title:
                                                 ------------------------------

                                        "PARTICIPANT"

                                        ---------------------------------------
                                        NAME:

                                       5

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