Document:

Exhibit
4.7 

    GERMAN
AMERICAN BANCORP, INC.

     

     Notice
of Offer of 8% Redeemable Subordinate Debentures due 2019 

    Pursuant
to Subscription Rights

     

     March
__, 2009 

    To Our
Clients:

     

     Enclosed
for your consideration are a prospectus, dated March __, 2009, relating to the
offering (the "Rights Offering") by German American Bancorp, Inc. ("GABC") of 8%
redeemable subordinated debentures due 2019 (the "Debentures") pursuant to
non-transferable subscription rights (the "Rights") being distributed to all
holders of record of shares of GABC’s common shares, no par value (the "Common
Stock"), at the close of business on March 16, 2009 (the "Record Date"). The
Rights and Debentures are described in the Prospectus.  The Rights
will expire, if not exercised, at 5:00 p.m., New York City time, on April __,
2009, unless extended in the sole discretion of GABC (as it may be extended, the
"Expiration Date"). 

     

     As
described in the accompanying Prospectus, you have one (1) Right for each share
of Common Stock carried by us in your account as of the close of business on the
Record Date. 

     

    Each
Right entitles you to subscribe for $1.36 in principal amount of Debentures at a
subscription price of 100% of the principal amount (the "Subscription Price")
(the "Basic Subscription Privilege").  Debentures are being issued in
denominations of $10,000 and integral multiples of $10,000.  You may
round up the principal amount of your Basic Subscription Privilege to the next
highest integral multiple of $10,000 (the "Rounding-Up
Privilege").  For example, if you hold 5,000 shares, you would have
5,000 Rights, exercisable for $6,800 in principal amount of Debentures under the
Basic Subscription Privilege, but would be entitled to subscribe to purchase
$10,000 in principal amount of Debentures under the Rounding-Up
Privilege.  If you exercise your Basic Subscription Privilege in full
including your Rounding-Up Privilege, you may also exercise an over-subscription
privilege (the "Over-Subscription Privilege") to purchase additional Debentures
that remain unsubscribed for at the expiration of the Rights Offering. If
holders subscribe to purchase a greater principal amount of Debentures than is
available to be purchased pursuant to the Rights Offering, GABC will allocate
the Debentures to be issued in accordance with the method for allotting
Debentures described in the Prospectus.  See "The Rights Offering –
Allocation Procedures if Subscriptions Exceed Offering Size."  Excess
subscription payments will be returned to subscribers without
interest.

     

     The
Rights are evidenced by non-transferable Subscription Certificates (the
"Subscription Certificates") and will cease to have any value at the close of
business on the Expiration Date. 

     

    THE
MATERIALS ENCLOSED ARE BEING FORWARDED TO YOU AS THE BENEFICIAL OWNER OF COMMON
STOCK CARRIED BY US IN YOUR ACCOUNT BUT NOT REGISTERED IN YOUR NAME. EXERCISES
OF RIGHTS MAY BE MADE ONLY BY US AS THE RECORD OWNER AND PURSUANT TO YOUR
INSTRUCTIONS.

     

     Accordingly,
we request instructions as to whether you wish us to elect to subscribe for any
Debentures to which you are entitled pursuant to the terms and subject to the
conditions set forth in the enclosed Prospectus. However, we urge you to read
the Prospectus carefully before instructing us to exercise your
Rights. 

     

    Your
instructions to us should be forwarded as promptly as possible in order to
permit us to exercise Rights on your behalf in accordance with the provisions of
the Rights Offering.   The Rights Offering will expire at
5:00 p.m., New York City time, on the Expiration Date. Once you have exercised
the Basic Subscription Privilege, the Rounding-Up Privilege and the
Over-Subscription Privilege, such exercise may not be
revoked.

     

    If you
wish to have us, on your behalf, exercise the Rights for any Debentures to which
you are entitled, please so instruct us by completing, executing and returning
to us the instruction form on the reverse side of this letter.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    BENEFICIAL
OWNER ELECTION FORM

     

    INSTRUCTIONS

     

    The
undersigned acknowledge(s) receipt of your letter and the enclosed materials
referred to therein relating to the offering of 8% redeemable subordinated
debentures due 2019 (the "Debentures ") of German American Bancorp, Inc.
("GABC").

     

     This
will instruct you whether to exercise Rights to purchase Debentures distributed
with respect to the shares of Common Stock held by you for the account of the
undersigned, pursuant to the terms and subject to the conditions set forth in
the Prospectus. 

     

    Box
1.    ̈
Please DO NOT EXERCISE RIGHTS for Debentures.

     

    Box
2.    ̈
Please EXERCISE RIGHTS for Debentures as set forth below.

     

    
      
        
          
            
              
                	 
      	
                        Principal Amount of Debentures
      

                        Subscribed
      For *

                      	 
      	
                        Payment
      **

                      
	
                        Basic
      Subscription Privilege with Rounding-Up Privilege

                      	
                        _________________  x

                      	 
      	
                        $_____________(Line
      1)

                      
	
                        Over-Subscription
      Privilege

                      	
                        _________________  x

                      	 
      	
                        $_____________
      (Line 2)

                      
	
                        Total
      Payment Required

                      	 
      	 
      	
                        $_____________
      (Sum of Lines 1 and
2)

                      

              

            

          

        

      

    

     

    * Must be
in denominations of $10,000 or integral multiples thereof

     

    **100% of
principal amount * 100% of principal amount

    

    Box
3.    ̈
Payment in the following amount is enclosed: $____________.

     

    Box
4.    ̈
Please deduct payment of $ ____________ from the following account maintained by
you as follows:

     

    
      	
              ___________________________ 

            	 
      	
              ____________________________ 

            
	
              Type
      of Account

            	 
      	
              Account
      No.

            
	 
      	 
      	 
      
	 
      	 
      	
              ____________________________ 

            
	 
      	 
      	
              Signature(s)

            

    

     

    Date:                                                                           Please
type or print name(s) below:

     

    

                                                                                        
________________________________

     

                                                                                        
________________________________Unassociated Document

     

     Exhibit
4.8 

    NOTICE
OF GUARANTEED DELIVERY

    FOR

     SUBSCRIPTION
CERTIFICATES 

    ISSUED
BY

    GERMAN
AMERICAN BANCORP, INC.

     

     This
form, or one substantially equivalent hereto, must be used to exercise and pay
for Rights to subscribe to purchase 8% redeemable subordinated debentures due
2019 ("Debentures") of German American Bancorp, Inc., an Indiana corporation
("GABC"), pursuant to the Rights Offering described in GABC's prospectus dated
March __, 2009 (the "Prospectus") if a holder of Rights cannot deliver the
certificate(s) evidencing the Rights (the "Subscription Certificate(s)"), or
payment for those Rights, to the Subscription Agent listed below at or prior to
5:00 p.m., New York City time, on April __, 2009, unless such time is extended
by GABC as described in the Prospectus (as it may be extended, the "Expiration
Date"). Such form must be delivered by facsimile transmission, first class mail
or overnight courier to the Subscription Agent, and must be received by the
Subscription Agent on or prior to the Expiration Date. 

    

     Payment
of the Subscription Price of 100% of the principal amount of Debentures
subscribed for upon exercise of such Rights must be received by the Subscription
Agent in the manner specified in the Prospectus at or prior to 5:00 p.m., New
York City time, on the third business day following the Expiration Date if the
Subscription Certificate(s) evidencing such Rights is (are) being delivered
pursuant to the Guaranteed Delivery Procedures thereof. 

     

    All
deliveries must be addressed to Computershare Trust Company, the subscription
agent for the Rights Offering (the "Subscription Agent"), as
follows:

     

    
      	
               By
      Mail: 

               

               Computershare
      Trust Company 

               P.O.
      Box 859208 

               Braintree
      MA 02815-9208 

               Attn:
      Voluntary Corporate Actions 

            	  
      	
               By
      Overnight Courier: 

               

               Computershare
      Trust Company 

               161
      Bay State Drive 

               Braintree,
      MA 02184 

               Attn:
      Voluntary Corporate Actions 

            
	
               

              By
      facsimile transmission: (For Eligible Institutions Only)

              (781)
      930 -4942

            

    

     

    You
should confirm receipt of all facsimile transmissions by calling Computershare
Trust Company at (781) 930 -4900.

     

    You may
obtain additional information regarding the Rights Offering from the Information
Agent:

     

    The
Information Agent for the Rights Offering is:

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Ladies
and Gentlemen:

     

     The
undersigned hereby represents that the undersigned is the holder of Subscription
Certificate(s) representing Right(s) and that such Subscription Certificate(s)
cannot be delivered to the Subscription Agent at or before 5:00 p.m., New York
City time, on the Expiration Date.  Upon the terms and subject to the
conditions set forth in the Prospectus, receipt of which is hereby acknowledged,
the undersigned hereby elects to exercise, subject to availability and
proration, (i) the Basic Subscription Privilege and Rounding-Up Privilege to
subscribe to purchase __________ in principal amount of Debentures (must be a
denomination of $10,000 or an integral multiple thereof) and (ii) the
Over-Subscription Privilege relating to such Rights, to the extent that
Debentures that are not otherwise purchased pursuant to the exercise of Rights
are available therefor, for an aggregate of __________ (must be a denomination
of $10,000 or an integral multiple thereof) in principal amount of
Debentures. 

    

     The
undersigned understands that payment of the Subscription Price of 100% of
principal amount for all Debentures subscribed for pursuant to the Basic
Subscription Privilege, the Rounding-Up Privilege and the Over-Subscription
Privilege must be received by the Subscription Agent at or before 5:00 p.m., New
York City time, on the third business day following the Expiration Date and
represents that such payment, in the aggregate amount of $___________, and
either (check appropriate box): 

     

    
      
        
          	
                   
      

                	
                   ̈

                	
                  is
      being delivered to the Subscription Agent
  herewith

                

        

      

       

      OR

       

      
        	
                 
      

              	
                  ̈ 

              	
                 will be delivered separately
      to the Subscription Agent in the manner set forth below (check appropriate
      box and complete information relating
  thereto): 

              

      

       

      
        	
                 
      

              	
                  ̈ 

              	
                 uncertified check (Payment by
      uncertified check will not be deemed to have been received by the
      Subscription Agent until such check has cleared. Holders paying by such means
      are urged to make payment sufficiently in advance of the Expiration Date
      to ensure that such payment clears by such
    date.) 

              

      

       

      
        	
                 
      

              	
                 ̈

              	
                certified or cashier’s check drawn upon a
      U.S. bank

              

      

    

    
       

      
        	
                 
      

              	
                 ̈

              	
                money
  order

              

      

    

     

     Date
of check or money order: 

     

     Check
number: 

     

    Bank on
which check is drawn:

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                     Name(s): 

                                     

                                  	  
      	
                                     Address: 

                                     

                                  
	
                                     

                                  	   
      	   
      
	  
      	
                                     

                                  	   
      
	  
      (Please
      type or print) 	 	
                                     

                                  
	   	   	   
	   	   	
                                     (Area
      code and Tel. #) 

                                  
	
                                     Rights
      Certificate No(s). (if available):
  ___________________ 

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    GUARANTEE
OF DELIVERY

     (Not
To Be Used For Subscription Certificate Signature Guarantee) 

     

    The
undersigned, a member firm of a registered national securities exchange or of
the Financial Industry Regulatory Authority, or a commercial bank or trust
company having an office or correspondent in the United States, or a bank,
stockbroker, savings and loan association or credit union with membership in an
approved signature guarantee medallion program, pursuant to Rule 17Ad-15 of the
Securities Exchange Act of 1934, as amended, guarantees that the undersigned
will deliver to the Subscription Agent the certificates representing the Rights
being exercised hereby, with any required signature guarantee and any other
required documents, and payment, all within three (3) business days after the
date hereof.

     

    
      
        
          
            
              
                
                  
                    
                      	 
      	
                               Dated:
      ________________________ 

                            
	
                               

                            	 
      
	 
      	 
      
	
                               (Authorized
      Signature) 

                            	 
      
	 
      	 
      
	 
      	 
      
	
                               

                            	 
      
	 
      	 
      
	
                               (Name
      of Firm) 

                            	 
      
	 
      	 
      
	 
      	 
      
	
                               

                            	 
      
	 
      	 
      
	
                               (Address 

                            	 
      
	 
      	 
      
	 
      	 
      
	
                               

                            	 
      
	 
      	 
      
	
                               (Area code and Tel. #) 

                            	 
      

                    

                  

                

              

            

          

        

      

    

     

     The
institution which completes this form must communicate the guarantee to the
Subscription Agent and must deliver the Subscription Certificate(s), and
payment, to the Subscription Agent within the time period specified above.
Failure to do so could result in a financial loss to such
institution.

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