Document:

EXHIBIT 10.2

   

  EMPLOYMENT AGREEMENT

   

  This EMPLOYMENT AGREEMENT (this “Agreement”) dated as of February 11, 2020, by and among First Bank & Trust Company (“FB&T”),

    a Texas banking association, Heartland Financial USA, Inc. (the “Company”), a Delaware corporation and the parent company of FB&T, AIM Bancshares, Inc. (“Holdco”), a Texas corporation, AimBank (“Bank”), a Texas banking association and wholly
    owned subsidiary of Holdco and Jeremy Ferrell (the “Executive”), a resident of Texas.

   

  WHEREAS, the Executive currently serves as Executive Vice President and Chief Operating Officer of Bank;

   

  WHEREAS, the Executive and Bank are parties to that certain Non-disclosure and Noncompetition Agreement, dated March 25, 2014, and that
    certain Additional Compensation Agreement, dated March 25, 2014 (the “Prior Agreements”);

   

  WHEREAS, the Executive and Bank are parties to that certain Deferred Compensation Agreement, dated September 30, 2012 (the “Deferred

      Compensation Agreement”);

   

  WHEREAS, Holdco and the Company are executing an Agreement and Plan of Merger as of the date hereof (the “Merger Agreement”), pursuant
    to which Holdco will be merged with and into the Company (the “Merger”), and the Company will continue as the surviving corporation; 

   

  WHEREAS, the Merger Agreement provides that immediately following the Merger, Bank will merge with and into FB&T (the “Bank Merger”
    and collectively with the Merger, the “Mergers”);

   

  WHEREAS, the Merger Agreement provides that the Deferred Compensation Agreement will be terminated on or prior to the date of consummation of
    the Mergers (the “Effective Date”);  and

   

  WHEREAS, conditioned on the successful completion of the Mergers, the Company and FB&T desire that FB&T employ the Executive upon the
    Effective Date on the terms and conditions of this Agreement, and the Executive desires to be employed by FB&T on such terms and conditions.

   

  NOW, THEREFORE, in consideration of the promises, the mutual agreements set forth below and other good and valuable consideration, the receipt
    and adequacy of which are hereby acknowledged, the parties agree as follows:

   

  1.       Employment.  Effective upon the Effective Date, FB&T hereby agrees to employ the Executive, and the Executive accepts such employment with FB&T and agrees to
    perform services for FB&T, for the period and upon the other terms and conditions set forth in this Agreement, which shall supersede the terms, conditions, duties and obligations contained in the Prior Agreements which shall be terminated in their
    entirety by this Agreement as of the Effective Date, subject to the payment to the Executive of any benefits to which the Executive is or will be entitled thereunder. 

   

  
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  2.       Term.  Unless terminated at an earlier date in
    accordance with Section 8 of this Agreement, the term of the Executive’s employment hereunder shall be for a period of three (3) years, commencing on the Effective Date (the “Initial Term”).  Except as otherwise agreed in writing by the parties,
    if the Executive continues to be employed by FB&T after the Initial Term, for any reason, he will do so as an at-will employee and not pursuant to this Agreement, provided that the Executive’s post-termination obligations pursuant to Sections 5, 6,
    7 and 8(e) of this Agreement and FB&T’s and the Company’s post-termination obligations pursuant to Sections 3(a), 4 and 8(d)(i) of this Agreement shall survive during the period of any such continued at-will employment (the Initial Term plus any
    period of at-will employment being referred to herein as the “Term”), and, to the extent applicable, after termination of such at-will employment, for any reason.  If either (a) the Merger Agreement will have been validly terminated pursuant to
    its terms, or (b) the Executive’s employment with Holdco or Bank terminates prior to the Effective Date, for any reason, this Agreement, and all rights and obligations of the Company, FB&T and the Executive hereunder, shall be null and void.

   

  3.       Position and Duties.

   

  (a)   Position.  During the Term, the Executive shall serve as Chief Integration Officer of FB&T, reporting to the Chief Executive
    Officer of FB&T.  The Executive shall also be appointed as an advisory member of the FB&T Board of Directors, but shall not be entitled to compensation for service as an advisory member of the Board in addition to the compensation provided
    herein.”  .

   

  (b)   Performance of Duties.  The Executive agrees to devote his full time, attention and efforts to the business and
    affairs of FB&T, and shall comply with FB&T’s policies and rules, as they may be in effect from time to time, during his employment by FB&T.  The Executive confirms that he is under no contractual commitments inconsistent with his
    obligations set forth in this Agreement and that, during the Term while the Executive remains employed by FB&T, he will not render or perform services for any other corporation, firm, entity or person which are inconsistent with the provisions of
    this Agreement.  Notwithstanding the prior sentence, while he remains employed by FB&T, the Executive may (i) participate in charitable and civic activities and personal investment activities (but not be involved in a material manner in the
    day-to-day operations of any business in which he has invested), and (ii) with the prior written consent of FB&T’s Board of Directors, act as a director of any corporations or organizations outside FB&T and the Company (other than banks, other
    financial institutions or other organizations providing similar services as FB&T); provided, in each case, and in the aggregate, that such activities do not materially interfere with the performance of Employee’s duties hereunder or violate
    Employee’s fiduciary duty to FB&T. 

   

  4.       Compensation. 

   

  (a)   Base Salary.  As compensation for all services to be rendered by the Executive under this Agreement, during the Term FB&T shall pay
    to the Executive a base salary of no less than $285,000 per year (the “Base Salary”), less deductions and withholdings, which salary shall be paid in accordance with FB&T’s normal payroll procedures and policies.  The Executive shall be
    eligible, at the discretion of the Company and FB&T’s Board of Directors, for annual salary increases consistent with its procedures, policies and practices (any increased salary thereafter constituting the Base Salary for purposes of this
    Agreement).

   

  
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  (b)   Signing Bonus.  Bank shall pay the Executive a one-time signing bonus of $100,000, less deductions and withholdings (the “Signing
      Bonus”), subject to and on or before the Effective Date.

   

  (c)   Retention Bonus.  The Executive shall receive an additional annual payment in the gross amount of $50,000, less deductions and
    withholdings, for each of the first three twelve month periods of the Initial Term (the “Annual Retention Bonus”).  Each Annual Retention Bonus will be paid in substantially equal monthly installments for a period of twelve (12) months,
    commencing in the first, thirteenth and twenty-fifth full calendar months following the Effective Date, provided that, as of the date of each installment, the Executive (i) remains an employee of FB&T, and (ii) has not materially breached any term
    of this Agreement, or any such breach timely has been cured by the Executive, as determined in the reasonable discretion of the Company and FB&T.  In the event that Executive is in material breach of any term of this Agreement as of the date of
    such installment, which breach is later cured by the Executive, as determined in the reasonable discretion of the Company and FB&T, in accordance with this Agreement, Executive will be entitled to such installment. 

   

  (d)   Incentive Compensation.  In each calendar year during the Term, but in the sole discretion of the Company and FB&T’s Board of
    Directors, the Executive shall be eligible for a cash incentive bonus of up to 45% of the Base Salary.  In each such year, the incentive bonus will be based on the Executive’s achievement of objectives established by the Company and FB&T’s Board of
    Directors (which objectives generally shall be based on budgeted profit and growth, but may include other or different objectives at the discretion of the Company and FB&T’s Board of Directors).  Determinations regarding the Executive’s performance
    against annual objectives shall be in the sole discretion of the Company and FB&T’s Board of Directors, and the determinations of the Company and the Board of Directors with respect to such bonus shall be final and binding.  Notwithstanding the
    foregoing, Executive’s incentive bonus for the first calendar year of the Initial Term shall be $128,250, pro-rated based on the actual number of months of from the Effective Date through the end of such calendar year, provided
    the Executive (i) remains an employee of FB&T as of the end of such calendar year, and (ii) has not materially breached any term of this Agreement, or any such breach timely has been cured by the Executive, as determined in the reasonable
    discretion of the Company and FB&T.

   

  (e)   Equity Compensation.  The Executive may be eligible for time-based and/or performance-based grants of restricted stock units (“RSUs”)

    beginning in the year following commencement of employment to the same extent as other senior executive officers of FB&T. Grants to the Executive, if any, may have a fair market value of up to 35% of the Executive’s then-current Base Salary.  RSUs
    are governed by the applicable RSU Award Agreement and the vesting of granted RSUs is contingent upon circumstances described therein. As part of this grant, a non-solicitation agreement will need to be signed in conjunction with the RSU agreement. 
    For clarity, nothing in this Agreement shall constitute a guarantee of any award of RSUs or otherwise under the Company’s Long Term Incentive Plan, and any such awards, which shall be consistent with the awards granted to the other senior executive
    officers of FB&T shall be in the sole discretion of the Company. 

   

  
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  (f)   Claw Back.  Any amounts payable as incentive compensation under this Agreement or RSU’s awarded to Executive are subject to any policy
    (whether in existence as of the Effective Date or later adopted) established by the Company providing for the claw back or recovery of amounts that were paid or awarded to the Executive.  The Company will make any determination for claw back or
    recoveries pursuant to any Company policy in its sole discretion and in accordance with any applicable laws and regulations.  

   

  (g)   Participation in Benefit Plans.  While he is employed by FB&T during the Term, the Executive shall be eligible to participate in
    all employee benefit plans or programs offered generally by FB&T to its employees, to the extent that the Executive’s position, tenure, salary, health and other qualifications make Employee eligible to participate.  Without limiting the foregoing,
    the Executive shall be eligible to participate in any defined contribution pension plan, employee stock purchase plan, executive deferred compensation plan, group life, health, dental or accident insurance or any such other plan or policy that may be
    in effect or that may hereafter be adopted by FB&T for the benefit of its employees and corporate officers generally. The Executive’s participation in plans that require or reflect length of service shall include Executive’s prior employment with
    the Bank. Executive’s paid time off will include credit for any accrued but unused time off as of the Effective Time and accrue thereafter in accordance with FB&T policy. The Executive’s participation in such benefits shall be subject to the terms
    of the applicable plans (and applicable laws), as the same may be amended from time to time.  The Company and FB&T do not guarantee the adoption or continuance of any particular employee benefit during the Executive’s employment, and nothing in
    this Agreement is intended to, or shall in any way restrict the right of FB&T, to amend, modify or terminate any of its benefits during the Term.  FB&T agrees to treat all prior tenure with Bank as time of employment with FB&T for purposes
    of calculating benefits under any benefits policy or plan of FB&T.

   

  (h)   Perquisites.  While he is employed by FB&T during the Term, the Executive shall be permitted to continue the use of a Bank-owned
    vehicle or will receive a monthly automobile allowance of $1,000, and shall receive reimbursement of 50% of the total dues for a club membership, up to a maximum reimbursement of $7,200 per year.

   

  (i)    Expenses.  During the Term, FB&T will pay or reimburse the Executive for all reasonable out-of-pocket expenses incurred by him in
    the performance of his duties under this Agreement, subject to FB&T’s normal policies for reimbursement and expense verification.

  
   

  
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  5.       Confidential Information.  Except as directed
    by the Company or FB&T’s Board of Directors, during the Term or at any time thereafter, the Executive shall not divulge, furnish or make accessible to anyone or use in any way (other than in the ordinary course of the business of FB&T) any
    confidential information of the Company or FB&T or their respective subsidiaries or affiliates (or of any third party) that the Executive has acquired or become acquainted with or will acquire or become acquainted with, whether developed by himself
    or by others, including but not limited to any trade secrets, confidential, proprietary or secret information or data, processes, formulae, plans, devices or material (whether or not patented or patentable) used in any aspect of the business of the
    Company or FB&T or their respective subsidiaries or affiliates, any customer or supplier lists of the Company or FB&T or their respective subsidiaries or affiliates, any confidential development or research work of the Company or FB&T or
    their respective subsidiaries or affiliates, any other confidential information or aspects of the business of the Company or FB&T or their respective subsidiaries or affiliates, or any confidential information obtained from third parties under an
    obligation to the Company or FB&T or their respective subsidiaries or affiliates to maintain the confidentiality of such information, which obligation is known to Executive (all such confidential or secret knowledge and information referred to in
    this sentence, the “Confidential Information”).  The Executive acknowledges that the Confidential Information constitutes a unique and valuable asset of the Company and FB&T and represents a substantial investment of time and expense and the
    creation of goodwill by the Company and FB&T, and that any disclosure or other use of such knowledge or information other than for the sole benefit of the Company and FB&T would be wrongful and would cause irreparable harm to the Company and
    FB&T.  The foregoing obligations of confidentiality shall not apply to, and Executive shall be entitled to disclose, any knowledge or information (a) that is now published or which subsequently becomes generally publicly known in the form in which
    it was obtained from the Company or FB&T, other than as a direct or indirect result of the breach of this Agreement by the Executive, (b) that is received by Executive on a non-confidential basis from a source other than the Company or FB&T or
    their respective subsidiaries or affiliates that is not  prohibited from disclosing such information by a legal, contractual or fiduciary obligation, (c) as may be required by law or legal process after providing FB&T with prior written notice and
    an opportunity to respond to such disclosure (unless such notice is prohibited by law), (d) in any criminal proceeding against him after providing the Company and FB&T with prior written notice and an opportunity to seek protection for such
    Confidential Information (at the Company’s or FB&T’s sole expense, as applicable), and (e) with the prior written consent of the Company and FB&T.

   

  Executive understands that certain whistleblower laws permit him to communicate directly with governmental or regulatory
    authorities about possible violations of law.  Executive acknowledges that he is not required to seek the permission of or notify the Company or FB&T of any communications made in compliance with applicable whistleblower laws, and that neither the
    Company nor FB&T will consider such communications to violate this Agreement.

   

  6.       Restrictive Covenants.  Executive acknowledges
    that, as a result of his service to Bank and FB&T, a special relationship of trust and confidence has developed between Executive, Bank, FB&T and their clients and customers; this special relationship shall continue and be expanded upon
    following the Merger; and that this special relationship has and will generate a substantial amount of goodwill between Bank and FB&T and their clients and customers.  Executive further acknowledges and agrees that as a result of his service to
    Bank and FB&T, he has and will be provided with access to and informed of confidential, proprietary and highly sensitive information relating to Bank, FB&T and their clients and customers, which is a competitive asset of Bank and FB&T and
    which enables Executive to benefit from the goodwill and know-how of Bank and FB&T.

   

  
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  As an inducement for the Company to enter into the Merger Agreement and consummate the Merger, and as necessary to protect the
    trade secrets and goodwill of the business of Holdco and Bank to be acquired pursuant to the Merger Agreement and subsequently developed by the Company and FB&T, the Executive agrees to the restrictive covenants set forth in this Section 6.  The
    Executive acknowledges the trade secrets that have and will be developed by Bank, FB&T and the Company, as well as the valuable and special relationships developed between Bank and FB&T and their customers and employees, as well as between the
    Company and its customers and employees, and acknowledges that such relationships will continue to be developed by the Company and FB&T, at considerable expense.  Accordingly, Executive agrees that he will not in any way interfere with such
    relationships, whether or not contractual and regardless whether any such contract is oral, in writing or otherwise, as provided below.  Without limiting the generality of the foregoing, the Executive further specifically agrees as follows:

   

  (a)   During Executive’s employment with FB&T and for a period ending at the later of (i) the end of the Initial Term, or (ii) one (1) year after
    the termination of Executive’s employment, for any reason (the “Non-Solicitation Period”), the Executive shall not, directly or indirectly, (A) attempt to solicit or induce any employees of the Company, or FB&T, or their respective
    subsidiaries or affiliates, to leave their employment with the Company or FB&T or their respective subsidiaries or affiliates, or (B) use Confidential Information to solicit or induce or attempt to solicit or induce any employees of the Company or
    FB&T, or their respective subsidiaries or affiliates, to leave their employment with the Company or FB&T, or their respective subsidiaries or affiliates.  Notwithstanding the foregoing, this paragraph will not restrict Executive from engaging
    in general solicitations for employees that are not targeted at the employees of the Company or FB&T.

   

  (b)   During Executive’s employment with FB&T and the Non-Solicitation Period, the Executive shall not, directly or indirectly, (i) attempt to
    solicit or induce any customer of Company or FB&T or their respective subsidiaries or affiliates to cease doing business with, or otherwise reduce the amount of business such customer does with, Company or FB&T or their respective subsidiaries
    or affiliates, or (ii) use Confidential Information to solicit or induce or attempt to solicit or induce any customer of Company or FB&T or their respective subsidiaries or affiliates to cease doing business with, or otherwise reduce the amount of
    business such customer does with, Company or FB&T or their respective subsidiaries or affiliates.

   

  (c)   During Executive’s employment with FB&T, and for such additional period, if any, ending at the end of the Initial Term (the “Non-Competition
      Period”), the Executive shall not, directly or indirectly, without the express prior written consent of FB&T’s Board of Directors, (i) own, operate, manage, control, engage in, participate in, invest in, permit his name to be used by, act as
    consultant or advisor to, render services for (alone or in association with any person) or otherwise intentionally, knowingly and deliberately assist in any manner, any person that engages in or owns, invests in, operates, manages or controls any
    venture or enterprise which (directly or indirectly) provides the same or similar services or products as provided by Company or FB&T or their respective subsidiaries or affiliates within the Restricted Area (as defined below in this Section 6(c)),
    or (ii) enter into an independent contractor, consulting, employment or other arrangement with any other venture or enterprise providing the same or similar products or services as provided by Company or FB&T or their respective subsidiaries or
    affiliates in the Restricted Area.  “Restricted Area” means all geographic territory within fifty (50) miles of any banking facility operated by FB&T.  Notwithstanding the foregoing, this restriction shall not limit the ability of Executive
    to acquire an ownership interest in any publicly-traded depository institution or its holding company, so long as that ownership interest does not exceed 3% of the total number of shares outstanding of that entity and the Executive is not involved in
    the management or operation of such entity, or invest in a mutual fund that invests, directly or indirectly, in insured depository institutions or their holding companies

   

  
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  (d)   During Executive’s employment with FB&T and thereafter, the Executive shall not knowingly and intentionally make, publish, communicate or
    affirm to any third party, including but not limited to competitors or customers of the Company or FB&T, or their respective subsidiaries or affiliates, any statement that disparages or reflects negatively upon the Company or FB&T or their
    respective subsidiaries or affiliates, or any of their respective officers, directors, employees, products or services; provided that this paragraph will not limit any statement or communication that is mandated by any legal requirement or made by
    Executive in connection with the enforcement by him of any of his rights hereunder.

   

  The Executive acknowledges and agrees that the restrictions and agreements contained in this Section 6 are reasonable and necessary to protect the
    legitimate interests of the Company and FB&T; the potential restrictions on Executive’s future employment imposed by this Section 6 are reasonable in both duration and geographic scope and in all other respects and will not preclude Executive from
    earning a livelihood; and that any violation of this Section 6 will cause substantial and irreparable harm to the Company and/or FB&T that would not be quantifiable and for which no adequate remedy would exist at law and accordingly injunctive
    relief shall be available for any violation of this Section 6.

   

  7.       Intellectual Property.

   

  (a)   The Executive hereby confirms that there are no inventions or original works of authorship that were made by the Executive, prior to the date
    of this Agreement (collectively referred to herein as “Prior Intellectual Property”), which belong to the Executive, and which relate to the proposed or current business, services, or products of Holdco or Bank, and which were not assigned by
    the Executive to Holdco or Bank.  The Executive confirms that all Prior Intellectual Property will be acquired by the Company in the Merger and will be owned by the Company and/or FB&T, and to the extent it is not, the Executive hereby assigns and
    agrees to assign to FB&T effective as of the Effective Date, all of the right, title and interest in the Prior Intellectual Property.

   

  (b)   The Executive acknowledges that all Work Product (as defined below in this Section 7(b)) belongs to Holdco or Bank, and acknowledges that all
    Work Product will be acquired by the Company and/or Bank in the Merger, and will be owned by the Company and/or FB&T.  The Executive agrees to assign and hereby assigns to FB&T, without further consideration, all right, title, and interest that
    he may presently have or acquire (throughout the United States and in all foreign countries), free and clear of all liens and encumbrances, in and to such Work Product, which Work Product shall be the sole property of FB&T, whether or not
    patentable.  “Work Product” shall mean all ideas, processes, trademarks, service marks, inventions, technology, computer programs, original works of authorship, designs, formulas, discoveries, patents, copyrights, moral rights (including but not
    limited to rights to attribution or integrity) all improvements, rights, and claims related to the foregoing that are conceived, created, developed, or reduced to practice by the Executive alone or with others during the course of his employment with
    FB&T.  In addition, to the extent not assigned, the Executive hereby irrevocably waives any moral rights (including rights of attribution and integrity) that he may have with respect to the Work Product.  The Executive acknowledges that all
    original works of authorship which are made by him  (solely or jointly with others) within the scope of his employment and which are protectable by copyright are “works made for hire,” as defined in the United States Copyright Act (17 USCA, Section
    101), are included in the definition of Work Product.  The Executive shall promptly disclose any such Work Product to FB&T.

   

  
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  (c)   The Executive agrees to assist FB&T, or its designee, at FB&T’s expense, in securing FB&T’s rights in and to the Work Product and
    any copyrights, patents, trademarks, service marks, mask work rights or other intellectual property rights relating thereto in any and all countries.  Such assistance shall include the disclosure to FB&T of all pertinent information and data with
    respect thereto, the execution of all applications, specifications, oaths, assignments and all other instruments which FB&T shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to FB&T, its
    successors, assigns and nominees the sole and exclusive rights, title and interest in and to such Work Product, and any copyrights, patents, trademarks, service marks, mask work rights or other intellectual property rights relating thereto.  The
    Executive further agrees that his obligation to execute or cause to be executed, when it is in his power to do so, any such instrument or papers shall continue after the termination of this Agreement.

   

  (d)   The Executive agrees to maintain adequate and current written records on the development of all Work Product and to disclose promptly to
    FB&T all relevant records which records will remain the sole property of FB&T.  The Executive further agrees that all information and records pertaining to any idea, process, trademark, service mark, invention, discovery, improvement,
    technology, computer program, original work of authorship, design formula, discovery, patent, or copyright that the Executive does not believe to constitute Work Product but is conceived, developed, or reduced to practice by the Executive (alone or
    with others) during his employment with FB&T shall be promptly disclosed to FB&T.

   

  8.       Termination of Employment.

   

  (a)   Grounds for Termination.  The Executive’s employment shall terminate in the event that at any time:

   

  (i)            The Executive dies,

   

  (ii)           The Executive becomes Disabled (as defined in Section 8(b)),

   

  (iii)          FB&T elects to terminate this Agreement for Cause (as defined in Section 8(b)) and notifies the Executive in
    writing of such election,

   

  (iv)          FB&T elects to terminate this Agreement without Cause and notifies the Executive in writing of such election, or the
    Executive elects to terminate this Agreement for Good Reason (as defined in Section 8(b)) and notifies FB&T in writing of such election, or

   

  (v)           The Executive elects to resign his employment and terminate this Agreement without Good Reason and notifies FB&T in
    writing of such election.

   

  
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  If this Agreement is terminated pursuant to clause (i), (ii) or (iii) of this Section 8(a), such termination shall be effective immediately.  If this
    Agreement is terminated pursuant to clause (iv) or (v) of this Section 8(a), such termination shall be effective 30 days after delivery of the notice of termination, except that FB&T may elect, at its sole discretion, to accelerate the effective
    date of termination under clause (v) without further compensation to Executive.

   

  (b)   Certain Definitions.  “Cause” means:

   

  (i)         The Executive has breached the provisions of Section 5, 6 or 7 of this Agreement in any material respect;

   

  (ii)        The Executive has engaged in willful and material misconduct (including but not limited to willful and material failure
    to perform the Executive’s lawful duties as an officer or employee of FB&T) and the Executive has failed to cure such misconduct within 30 days after receipt of written notice from FB&T;

   

  (iii)        The Executive has committed fraud, misappropriation of funds or embezzlement in connection with FB&T’s business;

   

  (iv)       The Executive has been convicted or has pleaded nolo contendere to a felony; or

   

  (v)        The Executive has been convicted or has pleaded nolo contendere to a crime involving fraud or dishonesty, or any
    similar crime that reflects upon the Executive’s fitness to perform duties as an officer or employee or that casts FB&T in a negative light by association.

   

   “Disabled” means any mental or physical condition that renders the Executive unable to perform the essential functions of his position, with
    or without reasonable accommodation, for a period in excess of three months.  The Executive understands that FB&T will engage in the interactive process to determine whether a leave of another length is a reasonable accommodation but agrees that
    given his position, a leave longer than three months will likely be an undue hardship.

   

  “Good Reason” means the occurrence of any of the following:

   

  (i)            any material diminution in Executive’s title or his duties and responsibilities, other than in connection with a
    termination for Cause or because Executive has become Disabled;

   

  (ii)           a relocation of Executive’s primary work location outside of the Levelland or Lubbock, Texas area without Executive’s
    prior written consent; or

   

  (iii)          a material breach of this Agreement by the Company or FB&T that is not cured within 30 days after receipt of written
    notice from Executive.

   

  
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  (c)   Effect of Termination.  Notwithstanding the termination of this Agreement, the Executive, in consideration of the Executive’s
    employment hereunder for any reason, the parties hereto shall remain bound by the provisions of this Agreement which specifically relate to periods, activities or obligations upon or subsequent to the termination of the Executive’s employment,
    including but not limited to the requirements of Sections 3(a), 4, 5, 6, 7 and 8(d).

   

  (d)   Payments after Termination. 

   

  (i)         The Executive shall be entitled to salary and benefits under this Agreement (including (x) unreimbursed expenses
    incurred in the performance of his duties prior to the date of termination, and for which he would be entitled to reimbursement under Section 4(h) and Section 4(i), to the extent documentation therefor is promptly, and in any event within 45 days of
    termination, provided to FB&T, (y) unused vacation time in accordance with FB&T’s policies, and (z) any vested benefits as of the date of his termination) through the date of any termination during the Term pursuant to Section 8(a), including
    any bonus determined to be payable with respect to a completed fiscal year and not yet paid, but not including any bonus payment with respect to the year in which termination occurs.  Subject to any right to elect COBRA continuation coverage or similar
    state group health continuation law coverage, and, except as provided in Section 8(d)(ii), the Executive’s right to salary and benefits shall immediately terminate upon the effective date of termination of this Agreement under Section 8(a).

   

  (ii)        If the Executive’s employment is terminated during the Initial Term pursuant to Section 8(a)(ii) or 8(a)(iv), and
    provided (A) the Executive has executed a written release to FB&T in the form attached hereto as Exhibit A and the revocation or rescission period specified therein has expired without revocation or rescission by the Executive, and (B) the
    Executive has continued to comply with the provisions of this Agreement intended to survive termination, including but not limited to the Executive’s obligations under Sections 5, 6, 7 and 8(e) of this Agreement, then, in addition to the payments
    described in Section 8(d)(i), FB&T shall continue to pay Executive’s Base Salary for the remainder of the Initial Term.

   

  (e)   Surrender of Records and Property.  Upon termination of his employment with FB&T, for any reason, the Executive shall deliver
    promptly to FB&T all records, manuals, books, blank forms, documents, letters, memoranda, notes, notebooks, reports, data, tables, calculations or copies thereof that relate in any way to the business, products, practices or techniques of the
    Company or FB&T, and all other property, trade secrets and confidential information of the Company or FB&T, including, but not limited to, all documents that in whole or in part contain any trade secrets or confidential information of the
    Company or FB&T, which in any of these cases are in his possession or under his control, as well as any log-in information, passwords or other data or information reasonably necessary or useful to FB&T to access and/or use any documents or data
    created or maintained by Executive.

   

  
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  9.       Settlement of Disputes.

   

  (a)   Arbitration.  Except as provided in Section 9(b), any controversy arising out of or relating to the Executive’s employment, this
    Agreement, its enforcement or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions, shall be submitted to arbitration in Lubbock, Texas, before a single arbitrator to be mutually agreed
    upon by the parties and shall be conducted in accordance with the JAMS Employment Arbitration Rules and Procedures (“JAMS”), which may be found at jamsadr.com/rules-employment-arbitration.  The Executive acknowledges that he has reviewed such
    rules prior to executing this Agreement.  FB&T shall bear those expenses peculiar to arbitration including the administrative costs of the arbitration and the arbitrator’s fees to the extent required by Texas law and the JAMS rules.  Each party in
    the arbitration shall bear its or his own attorneys’ fees and legal costs.  However, if any party prevails on a statutory claim which affords the prevailing party attorneys’ fees and/or legal costs, the arbitrator may award reasonable attorneys’ fees
    and/or legal costs to the prevailing party consistent with applicable law.  The parties agree to file any demand for arbitration within the time limit established by the applicable statute of limitations for the asserted claims.  Failure to demand
    arbitration within the prescribed time period shall result in waiver of said claims.  This Agreement expressly does not prohibit either party from seeking provisional injunctive relief, including to prevent irreparable harm, in any court of competent
    jurisdiction.  Final resolution of any dispute through arbitration may include any remedy or relief which the Arbitrator deems just and equitable.  Any award or relief granted by the Arbitrator hereunder shall be final and binding on the parties hereto
    and may be enforced by any court of competent jurisdiction.

   

  (b)   Resolution of Certain Claims—Injunctive Relief.  Section 9(a) shall have no application to claims by the Company and/or FB&T 
    seeking to enforce, by injunction or otherwise, the terms of Section 5, 6, 7 or 8(e).  Such claims may be maintained by the Company and/or FB&T in a lawsuit subject to the terms of Section 9(c).  The Executive acknowledges that it would be
    difficult to fully compensate the Company and/or FB&T for damages resulting from any breach by him of the provisions of this Agreement.  Accordingly, the Executive agrees that, in addition to, but not to the exclusion of any other available remedy,
    the Company and/or FB&T shall have the right to enforce the provisions of Sections  5, 6, 7 and 8(e) by applying for and obtaining temporary and permanent restraining orders or injunctions from a court of competent jurisdiction without the
    necessity of filing a bond therefor, and the prevailing party shall be entitled to recover from the non-prevailing party its reasonable outside counsel fees in enforcing the provisions of Sections  5, 6, 7 and/or 8(e).

   

  (c)   Venue.  Any action at law, suit in equity or judicial proceeding arising directly, indirectly, or otherwise in connection with, out of,
    related to or from Sections  5, 6, 7 or 8(e) of this Agreement, shall be litigated only in the state or federal courts of the State of Texas.  The Executive, FB&T and the Company consent to the jurisdiction of such courts over the subject matter
    set forth in Section 9(b).  The Executive waives any right the Executive may have to transfer or change the venue of any litigation brought against the Executive by FB&T or the Company.

   

  10.     Code Section 409A.

   

  (a)   In General.  This Agreement, and all payments made or to be made hereunder, is intended to meet the requirements of Section 409A of the
    Internal Revenue Code of 1986, as amended (the “Code”), and shall be administered, interpreted and construed consistent with that intent.  However, the Executive acknowledges that he bears the entire risk of any adverse federal and state tax
    consequences and penalty taxes in the event any payment pursuant to this Agreement is deemed to be subject to but not in compliance with Section 409A and that no representations have been made to the Executive relating to the tax treatment of any
    payment pursuant to this Agreement under Section 409A and the corresponding provisions of any applicable State income taxation law.  To the extent any nonqualified deferred compensation payment to the Executive could be paid in one or more of the
    Executive’s taxable years depending upon the Executive completing certain employment-related actions, then any such payments will commence or occur in the later taxable year to the extent required by Code Section 409A.

   

  
    11

    
      
 

  

  (b)   Payments subject to Section 409A.  Notwithstanding any other provision of this Agreement, to the extent that the right to any payment
    (including the provision of benefits) hereunder provides for the “deferral of compensation” within the meaning of Section 409A(d)(1) of the Code, the payment shall be paid (or provided) in accordance with the following:

   

  (i)            If the Executive is a “Specified Employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code on the date of
    the Executive’s Separation from Service (the “Separation Date”), and if an exemption from the six (6) month delay requirement of Code Section 409A(a)(2)(B)(i) is not available, then no such payment shall be made or commence during the period
    beginning on the Separation Date and ending on the date that is six months following the Separation Date or, if earlier, on the date of the Executive’s death.  The amount of any payment that would otherwise be paid to the Executive during this period
    shall instead be paid to the Executive on the first day of the first calendar month following the end of the period.  Each payment hereunder is intended to constitute a separate payment from each other payment for purposes of Treasury Regulation
    Section 1.409A-2(b)(2).

   

  (ii)           Payments with respect to reimbursements of expenses or benefits or provision of fringe or other in-kind benefits shall
    be made on or before the last day of the calendar year following the calendar year in which the relevant expense or benefit is incurred.  The amount of expenses or benefits eligible for reimbursement, payment or provision during a calendar year shall
    not affect the expenses or benefits eligible for reimbursement, payment or provision in any other calendar year.  If the timing of any payment subject to Code Section 409A could occur in one or more tax years depending on the Executive’s
    employment-related actions, then such payment will be made as soon as possible in the later tax year.

   

  11.     Miscellaneous.

   

  (a)   Entire Agreement.  This Agreement (including Exhibit A) contains the entire understanding between the parties hereto with respect to
    the subject matter hereof and supersedes any prior understandings, agreements or representations, written or oral, relating to the subject matter hereof, expressly including but not limited to the Prior Agreements.

   

  (b)   Counterparts.  This Agreement may be executed in separate counterparts, each of which will be an original and all of which taken
    together shall constitute one and the same agreement, and any party hereto may execute this Agreement by signing any such counterpart.

   

  
    12

    
      
 

  

  (c)   Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid
    under applicable law but if any provision of this Agreement is held to be invalid, illegal or unenforceable under any applicable law or rule, the validity, legality and enforceability of the other provision of this Agreement will not be affected or
    impaired thereby.  In furtherance and not in limitation of the foregoing, should the duration or geographical extent of, or business activities covered by, any provision of this Agreement be in excess of that which is valid and enforceable under
    applicable law, then such provision shall be construed to cover only that duration, extent or activities which may validly and enforceably be covered.  The Executive acknowledges the uncertainty of the law in this respect and expressly stipulates that
    this Agreement be given the construction which renders its provision valid and enforceable to the maximum extent (not exceeding its express terms) possible under applicable law.

   

  (d)   Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of FB&T.  Neither this Agreement nor any
    right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable (including by operation of law) by the Executive without the prior written consent of FB&T.

   

  (e)   Modification, Amendment, Waiver or Termination.  No provision of this Agreement may be modified, amended, waived or terminated except
    by an instrument in writing signed by the parties to this Agreement.  No course of dealing between the parties will modify, amend, waive or terminate any provision of this Agreement or any rights or obligations of any party under or by reason of this
    Agreement.  No delay in exercising any right hereunder shall operate as a waiver of such right.  No waiver, express or implied, of any right or any breach by the Executive shall constitute a waiver of any other right or breach by the Executive.

   

  (f)   Notices.  All notices, consents, requests, instructions, approvals or other communications provided for herein shall be in writing and
    delivered by personal delivery, overnight courier, mail, electronic facsimile or e-mail addressed to the receiving party at the address set forth herein.  All such communications shall be effective when received.

   

  If to the Company and FB&T:

   

  	 	
          Heartland Financial USA, Inc.

        
	 	
          707 17th Street, Suite 2950

        
	 	
          Denver, Colorado  80202

        
	 	
          Telephone:

        	
          (720) 873-3780

        
	 	
          Fax:

        	
          (563) 589-1951

        
	 	
          Attention:

        	
          J. Daniel Patten, Executive Vice President, Finance and

        
	 	
           

        	
          Corporate Strategy

        
	 	
          E-mail:

        	
          DPatten@htlf.com

        

   

  With copy to:

   

  	 	
          Heartland Financial USA, Inc.

        
	 	
          1398 Central Avenue

        
	 	
          Dubuque, Iowa  52001

        
	 	
          Telephone:

        	
          (952) 562-1504

        
	 	
          Attention:

        	
          Jay L. Kim, Executive Vice President and

        
	 	
           

        	
          General Counsel

        
	 	
          E-mail:

        	
          jkim@htlf.com

        

   

  
    13

    
      
 

  

  If to the Executive:

   

  	 	
          Jeremy Ferrell

        
	 	
          110 College Avenue

        
	 	
          Levelland, Texas 79336

        
	 	
          Telephone:

        	
          (806) 897-4330

        
	 	
          E-mail:

        	
          JFerrell@aimbankonline.com

        

   

  Any party may change the address set forth above by notice to each other party given as provided herein.

   

  (g)   Headings.  The headings and any table of contents contained in this Agreement are for reference purposes only and shall not in any way
    affect the meaning or interpretation of this Agreement.

   

  (h)   Governing Law.  All matters relating to the interpretation, construction, validity and enforcement of this Agreement shall be governed
    by the internal laws of the State of Texas, without giving effect to any choice of law provisions thereof.

   

  (i)    Waiver of Jury Trial.  EACH PARTY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
      RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

   

  (j)    Advice of Counsel.  EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN ADVISED BY COUNSEL IN THE NEGOTIATION, EXECUTION AND DELIVERY OF THIS
      AGREEMENT.

   

  (k)   Third-Party Benefit.  Nothing in this Agreement, express or implied, is intended to confer upon any other person any rights, remedies,
    obligations or liabilities of any nature whatsoever.

   

  (l)    Withholding Taxes.  FB&T may withhold from any benefits payable under this Agreement all federal, state, city or other taxes as
    shall be required pursuant to any law or governmental regulation or ruling.

   

  [The remainder of this page intentionally has been left blank.]

   

  
    14

    
      
 

  

  IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

   

  	
           

        	
          HEARTLAND FINANCIAL USA, INC.

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Bruce Lee

        
	
           

        	
           

        	
          Bruce Lee

        
	
           

        	
           

        	
          Chief Executive Officer

        
	
           

        	
           

        	
           

        
	
           

        	
          FIRST BANK & TRUST

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Barry Orr

        
	
           

        	
           

        	
          Barry Orr

        
	
           

        	
           

        	
          Chairman of the Board and Chief Executive Officer

        
	
           

        	
           

        	
           

        
	
           

        	
          AIMBANK

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Scott L. Wade

        
	 	 	Scott L. Wade
	
           

        	
           

        	
          Chairman of the Board and Chief Executive Officer

        
	
           

        	
           

        	
           

        
	
           

        	
          aim bancshares, inc.

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Scott L. Wade

        
	 	 	Scott L. Wade
	
           

        	
           

        	
          Chairman of the Board and Chief Executive Officer

        
	
           

        	
           

        	
           

        
	
           

        	
          EXECUTIVE:

        
	
           

        	
           

        	
           

        
	
           

        	
           

        	
          /s/ Jeremy Ferrell

        
	
           

        	
          Jeremy Ferrell

        

   

  [Signature page to the Employment Agreement dated as of February 11, 2020 by and among Heartland Financial USA, Inc., First Bank &
    Trust, AIMBank, 

  AIM Bancshares, Inc. and Jeremy Ferrell]

  
   

  
    
      
 

  

  
  EXHIBIT A

   

  GENERAL RELEASE

   

  This General Release is made and entered into as of the __ day of __________, 20__, by Jeremy Ferrell (“Executive”).

   

  WHEREAS, Heartland Financial USA, Inc. (“Heartland”), First Bank & Trust Company (“FB&T”), AIM Bancshares, Inc.  (“Holdco”),

    AimBank (“Bank”) and Executive are parties to an Employment Agreement dated February 11, 2020 (the “Employment Agreement”);

   

  WHEREAS, Executive intends to settle any and all claims that Executive has or may have against Holdco Bank , FB&T or Heartland as
    a result of Executive’s employment with and/or the cessation of Executive’s employment with Holdco or Bank; and

   

  WHEREAS, under the terms of the Employment Agreement, which Executive agrees are fair and reasonable, Executive agreed to enter into this
    General Release as a condition precedent to the severance arrangements described in Section 8(d)(ii) of the Employment Agreement (the “Severance Benefit”).

   

  NOW, THEREFORE, in consideration of the provisions and the covenants contained in the Employment Agreement, the Executive agrees as follows:

   

  1.             Release.  For the consideration expressed in the Employment Agreement and subject to the payment of the Severance
    Benefit to Executive, Executive does hereby fully and completely release and waive any and all claims, complaints, causes of action, demands, suits and damages, of any kind or character, which Executive has or may have against the Released Parties, as
    hereinafter defined, arising out of any acts, omissions, conduct, decisions, behavior or events occurring up through the date of Executive’s signature on this General Release, including Executive’s employment with Holdco or Bank and the cessation of
    that employment.  For purposes of this General Release, “Released Parties” means collectively the Holdco, Bank, FB&T, Heartland, and their respective predecessors, successors, assigns, parents, affiliates, subsidiaries, related companies,
    officers, directors, shareholders, agents, employees, attorneys and insurers, and each and all thereof.

   

  Executive understands and agrees that Executive’s release of claims includes any and all possible claims related to his employment or the termination
    thereof, including but not limited to claims related to discrimination, harassment or retaliation, including but not limited to claims under Title VII of the Federal Civil Rights Act of 1964, as amended; The Civil Rights Act of 1991; sections 1981
    through 1988 of Title 42 of the United States Code, as amended; the Age Discrimination in Employment Act; the Older Worker Benefits Protection Act; the Family and Medical Leave Act; the Occupational Safety and Health Act, as amended; the Americans with
    Disabilities Act; the Equal Pay Act; the Executive Retirement Income Security Act; the Sarbanes Oxley Act of 2002; Tex. Lab. Code §§ 21.001–21.556; Tex. Lab. Code §§ 61.011–61.1020; or any other federal, state or local statute, ordinance or law. 
    Executive also understands that Executive is giving up all other claims, including those grounded in contract or tort theories, including, but not limited to:  wrongful discharge; breach of contract; tortious interference with contractual relations;
    promissory estoppel; breach of the implied covenant of good faith and fair dealing; breach of express or implied promise; breach of manuals or other policies; assault; battery; fraud; false imprisonment; invasion of privacy; intentional or negligent
    misrepresentation; defamation, including libel, slander, discharge defamation and self-publication defamation; discharge in violation of public policy; whistleblower; intentional or negligent infliction of emotional distress; any other claim of any
    kind whatsoever, including but not limited to any claim for damages or declaratory or injunctive relief of any kind, under any other theory of pleading or proof, whether legal or equitable.

   

  
    A-1

    
      
 

  

  Nothing in this General Release prohibits Executive from filing a charge with any government agency, however, Executive further understands that
    Executive is releasing, and does hereby release, any claims for damages, by charge or otherwise, whether brought by Executive or on Executive’s behalf by any other party, governmental or otherwise  against any of the Released Parties.  Executive also
    waives and releases any and all rights to money damages or other legal relief awarded by any governmental agency related to any charge or other claim against any of the Released Parties.

   

  This General Release does not constitute an unlawful waiver of any of Executive’s rights under any laws or otherwise apply to or release (i) any
    post-termination claim that Executive may have for benefits under the provisions of any employee benefit plan maintained by Holdco or Bank, including claims with regard to vested benefits under a retirement plan governed by the Employee Retirement
    Income Security Act (ERISA), (ii) any rights or claims that arise from actions occurring after the date Executive signs this General Release, (iii) claims for unemployment compensation benefits, workers compensation benefits, or health insurance
    benefits under the Consolidated Omnibus Budget Reconciliation Act (COBRA), or under the Fair Labor Standards Act, or (iv) or any claim Executive may have purely in his capacity as a shareholder or former shareholder of Holdco or Bank.

   

  Executive further understands that certain whistleblower laws permit him to communicate directly with governmental or regulatory authorities about
    possible violations of law.  Executive acknowledges that he is not required to seek Heartland’s or FB&T’s permission or notify the Heartland or FB&T of any communications made in compliance with applicable whistleblower laws, and that neither
    Heartland nor FB&T will consider such communications to violate this General Release or the Employment Agreement.

   

  2.             Rescission.  Executive has been informed of Executive’s right to rescind this General Release by written notice to
    FB&T within seven (7) calendar days after the execution of this General Release.  Executive has been informed and understands that any such rescission must be in writing and delivered to FB&T by hand or sent by mail within the 7-day time
    period.  If delivered by mail, the rescission must be:  (1) postmarked within the applicable period, and (2) sent by certified mail, return receipt requested.

   

  Executive understands that Heartland and/or FB&T will have no obligations under the Employment Agreement to pay the Severance Benefit to
    Executive in the event a notice of rescission by Executive is timely delivered, and, in the event Executive rescinds this General Release, Executive agrees to repay to FB&T any amount of the Severance Benefit, without interest, that was paid to
    Executive prior to the date of rescission, as applicable.

   

  
    A-2

    
      
 

  

  3.             Representations.  Executive represents that he is not aware of any violations of the law or bank policies with respect
    to his employment.  No provision of this General Release shall be construed as an admission or concession of any liability or wrongdoing or of any preexisting liability or wrongdoing.  Executive is the sole owner of all claims released and has not
    assigned or transferred to any person all or part of any interest in any claim released under this General Release.  This General Release and the Employment Agreement constitutes a single, integrated written contract expressing the entire agreement of
    the parties concerning his complete release of all claims as referred to herein.  No covenants, agreements, representations, or warranties of any kind whatsoever, whether express or implied in law or fact, have been made FB&T or Heartland, or any
    representative thereof, except as specifically set forth in the Employment Agreement. 

   

  4.            Acceptance Period; Advice of Counsel.  The terms of this General Release will be open for acceptance by Executive for a period
    of 21 days during which time Executive may consider whether or not to execute this General Release.  Executive agrees that changes to this General Release, whether material or immaterial, will not restart this acceptance period.  Executive is hereby
    advised to seek the advice of an attorney regarding this General Release.

   

  5.             Binding Agreement.  This General Release shall be binding upon Executive and his heirs and assigns, and inure to the
    benefit of Heartland, FB&T and their respective successors and assigns.

   

  6.             Ongoing Obligations.  Notwithstanding any other Section of this General Release, Executive acknowledges and agrees that
    he remains bound by, and will continue to comply in all respects with, Sections 5, 6, 7 and 8(e) of the Employment Agreement in accordance with the terms thereof.

   

  7.            Knowing and Voluntary Agreement.  Executive hereby acknowledges and states that Executive has read this General Release. 
    Executive further represents that this General Release is written in language that is understandable to Executive, that Executive fully appreciates the meaning of its terms, and that Executive enters into this General Release freely and voluntarily.

   

  IN WITNESS WHEREOF, Executive, after due consideration, has authorized, executed and delivered this General Release all as of the date first
    written.

   

  	 	 
	
           

        	
          Jeremy Ferrell

        

   

   A-3EXHIBIT 10.3

   

  

  SHAREHOLDER VOTING AGREEMENT

   

  This SHAREHOLDER Voting Agreement (this “Agreement”) is made and entered into as of February 11, 2020,
    by and among Heartland Financial USA, Inc., a Delaware corporation (“Heartland”), AIM Bancshares, Inc., a Texas corporation (“AIM”), and certain holders of Common Stock (as such term is defined in the Recitals) (referred to herein
    individually as a “Shareholder” and collectively as the “Shareholders”).

   

  RECITALS

   

  A.            Concurrently with the execution and delivery hereof, Heartland and AIM are entering into an Agreement and Plan of Merger of even date herewith (as it
    may be amended from time to time pursuant to the terms thereof, the “Merger Agreement”), which provides for the merger (the “Merger”) of AIM with and into Heartland.

   

  B.            Each Shareholder is the beneficial owner (as such term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of the number of
    shares of common stock, par value $100.00 per share (“Common Stock”), of AIM as is indicated on the signature pages of this Agreement.

   

  C.            In consideration of the execution and delivery of the Merger Agreement by Heartland, the Shareholders desire to agree to vote the Shares (as such term
    is defined in Section 1) over which such Shareholders have voting power so as to facilitate the consummation of the Merger.

   

  NOW, THEREFORE, intending to be legally bound, the parties hereto hereby agree as follows:

   

  1.            Certain Definitions. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Merger Agreement.
    For all purposes of and under this Agreement, the following terms shall have the following respective meanings:

   

  “Constructive Sale” means, with respect to any security, a short sale with respect to such security, entering into or acquiring an offsetting derivative
    contract with respect to such security, entering into or acquiring a futures or forward contract to deliver such security or entering into any other hedging or other derivative transaction that has the effect of materially changing the economic
    benefits and risks of ownership.

   

  “Expiration Date” means the earlier to occur of (i) such date and time as the Merger Agreement shall have been validly terminated pursuant to the terms of
    Article 8 thereof or (ii) the Closing Date.

   

  “Shares” means (i) all shares of Common Stock owned, beneficially or of record, by a Shareholder as of the date hereof, and (ii) all additional shares of
    Common Stock acquired by a Shareholder, beneficially or of record, during the period commencing with the execution and delivery of this Agreement and expiring on the Expiration Date. For avoidance of doubt, “Shares” shall include any shares of
    Common Stock owned indirectly by a Shareholder through the KSOP. 

   

  
    
      

    

  

  
  

  “Transfer” means, with respect to any security, the direct or indirect assignment, sale, transfer, tender, pledge, hypothecation, or the grant, creation or
    sufferage of an Encumbrance in or upon, or the gift, placement in trust, or the Constructive Sale or other disposition of such security (including transfers by testamentary or intestate succession or otherwise by operation of Law) or any right, title
    or interest therein (including, but not limited to, any right or power to vote to which the holder thereof may be entitled, whether such right or power is granted by proxy or otherwise), or the record or beneficial ownership thereof, the offer to make
    such a sale, transfer, Constructive Sale or other disposition, and each Contract or other arrangement to effect any of the foregoing.

   

  2.            Transfer Restrictions. At all times during the period commencing with the execution and delivery of this Agreement and expiring on the
    Expiration Date, no Shareholder shall, except in connection with the Merger or as the result of the death of such Shareholder, Transfer any of the Shares, or discuss, negotiate, make an offer or enter into a Contract or other arrangement with respect
    thereto, unless each Person to which any of such Shares, or any interest in any of such Shares, is or may be Transferred shall have: (i) executed a counterpart of this Agreement, and (ii) agreed in writing to hold such Shares (or interest in such
    Shares) subject to all of the terms and provisions of this Agreement.

   

  3.            Right to Vote.

   

  (a)            As of the date hereof and for so long as this Agreement remains in effect (including as of the date of the AIM Shareholder Meeting, which, for purposes
    of this Agreement, includes any adjournment or postponement thereof), except for this Agreement or as otherwise permitted by this Agreement, each Shareholder has full legal power, authority and right to vote all of the Shares then owned of record or
    beneficially by such Shareholder, in favor of the approval and authorization of the Merger, the Merger Agreement and the other transactions contemplated thereby (collectively, the “Proposed Transaction”) without the consent or approval of, or
    any other action on the part of, any other Person. Without limiting the generality of the foregoing, no Shareholder has entered into any voting agreement (other than this Agreement) with any Person with respect to any of the Shares, granted any Person
    or any proxy (revocable or irrevocable) or power of attorney with respect to any of the Shares, deposited any of the Shares in a voting trust or entered into any Contract or other arrangement with any Person limiting or affecting such Shareholder’s
    legal power, authority or right to vote the Shares on any matter. If a Shareholder is the beneficial owner, but not the record holder, of the Shares, such Shareholder agrees to take all actions necessary to cause the record holder and any nominees to
    vote all of the Shares in favor of the approval of the Proposed Transaction.

   

  (b)            From and after the date hereof, except as otherwise permitted by this Agreement or prohibited by order of a court of competent jurisdiction, no
    Shareholder will commit any act that could restrict or otherwise affect such Shareholder’s legal power, authority and right to vote all of the Shares then owned of record or beneficially by such Shareholder. Without limiting the generality of the
    foregoing, except for this Agreement and as otherwise permitted by this Agreement, from and after the date hereof, no Shareholder will enter into any voting agreement with any Person with respect to any of the Shares, grant any Person any proxy
    (revocable or irrevocable) or power of attorney with respect to any of the Shares, deposit any of the Shares in a voting trust or otherwise enter into any Contract or other arrangement with any Person limiting or affecting such Shareholder’s legal
    power, authority or right to vote the Shares in favor of the approval of the Proposed Transaction.

  
    2

    
      

    

  

  

  4.            Agreement to Vote Shares.

   

  (a)            Prior to the Expiration Date, at any meeting of the holders of Common Stock called, and at every adjournment or postponement thereof, each Shareholder
    shall appear at the meeting or otherwise cause such Shareholder’s Shares to be present thereat for purposes of establishing a quorum and vote (i) in favor of approval of the Proposed Transaction, (ii) against the approval or adoption of any proposal
    made in opposition to, or in competition with, the Proposed Transaction, and (iii) against any of the following (to the extent unrelated to the Proposed Transaction): (A) any merger, consolidation or business combination involving any AIM Entity other
    than the Proposed Transaction; (B) any sale, lease or transfer of all or substantially all of the assets of any AIM Entity; (C) any reorganization, recapitalization, dissolution, liquidation or winding up of any AIM Entity; or (D) any other action that
    is intended, or could reasonably be expected to, impede, interfere with, delay, postpone, discourage or adversely affect the consummation of the Proposed Transaction (each of (ii) and (iii), a “Competing Transaction”).

   

  (b)            Notwithstanding any other provision of this Agreement, no Shareholder will be required to vote in favor of the Proposed Transaction (nor will the
    irrevocable proxy apply) at any meeting of the holders of Common Stock, if, and only if, AIM and Heartland amend the Merger Agreement in any manner that is adverse in any material respect to such Shareholder.

   

  5.            Grant of Irrevocable Proxy.

   

  (a)            Each Shareholder hereby irrevocably (to the fullest extent permitted by Law) grants to, and appoints, Heartland and each of its executive officers and
    any of them, in their capacities as executive officers of Heartland, such Shareholder’s proxy and attorney-in-fact (with full power of substitution and re-substitution), for and in the name, place and stead of such Shareholder, to vote the Shares, to
    instruct nominees or record holders to vote the Shares held by such Shareholder at the AIM Shareholder Meeting, and at every adjournment or postponement thereof or grant a consent or approval in respect of such Shares, in favor of approval of the
    Proposed Transaction.

   

  (b)            Each Shareholder represents that any proxies heretofore given in respect of such Shareholder’s Shares that may still be in effect are not irrevocable,
    and that any such proxies are hereby revoked.

   

  (c)            Each Shareholder hereby affirms that the irrevocable proxy set forth in this Section 5 is given in connection with the execution of the Merger
    Agreement, and that such irrevocable proxy is given to secure the performance of the duties of such Shareholder under this Agreement. Each Shareholder hereby further affirms that the irrevocable proxy is coupled with an interest and may under no
    circumstances be revoked. Each Shareholder hereby ratifies and confirms all that such irrevocable proxy may lawfully do or cause to be done by virtue hereof.

  
    3

    
      

    

  

  

  (d)            The attorneys and proxies named in Section 5(a) may not exercise this irrevocable proxy to vote on any matter except as provided above. Each Shareholder
    may vote the Shares held by such Shareholder on all other matters.

   

  6.            No Solicitation. No Shareholder, in such Shareholder’s capacity as a Shareholder, shall directly or indirectly, (i) solicit, initiate,
    encourage, induce or facilitate the making, submission or announcement of any Competing Transaction or take any action that could reasonably be expected to lead to a Competing Transaction, (ii) furnish any information regarding any AIM Entity to any
    Person in connection with or in response to a Competing Transaction or an inquiry or indication of interest that could reasonably be expected to lead to a Competing Transaction, (iii) engage in discussions or negotiations with any Person with respect
    to any Competing Transaction, (iv) approve, endorse or recommend any Competing Transaction or (v) enter into any letter of intent or similar document or any Contract contemplating or otherwise relating to any Competing Transaction.

   

  7.            Action in Shareholder Capacity Only. No Shareholder is making any agreement or understanding herein as a director of AIM. Each Shareholder is
    signing solely in such Shareholder’s capacity as a record holder and beneficial owner of Shares, and nothing herein shall limit or affect any actions taken in such Shareholder’s capacity as a director of AIM.

   

  8.            Additional Representations and Warranties of Shareholder. Each Shareholder hereby represents and warrants to Heartland as follows: (i) the
    Shareholder is the beneficial or record owner of the Shares indicated on the signature page of this Agreement free and clear of any and all Encumbrances; (ii) the Shareholder does not beneficially own any securities of AIM other than the Shares set
    forth on the signature page of this Agreement and options to acquire shares of Common Stock; (iii) the Shareholder has full power and authority to make, enter into and carry out the terms of this Agreement and to grant the irrevocable proxy as set
    forth in Section 5; (iv) this Agreement has been duly and validly executed and delivered by the Shareholder and constitutes a valid and binding agreement of the Shareholder enforceable against such Shareholder in accordance with its terms; and (v) the
    execution and delivery of this Agreement and the performance by the Shareholder of such Shareholder’s agreements and obligations hereunder will not result in any breach or violation of or be in conflict with or constitute a default under any term of
    any Contract, Governmental Order, Law or arrangement to which the Shareholder is a party or by which the Shareholder (or any of such Shareholder’s assets) is bound, except for any such breach, violation, conflict or default which, individually or in
    the aggregate, would not impair or adversely affect the Shareholder’s ability to perform such Shareholder’s obligations under this Agreement or render inaccurate any of the representations and warranties made by such Shareholder herein.

   

  9.            Exchange of Shares; Waiver of Rights of Appraisal; Regulatory Approvals. If the Merger is consummated, the Shares shall, pursuant to the terms
    of the Merger Agreement, be exchanged for the consideration provided in the Merger Agreement. Each Shareholder hereby waives any rights to demand appraisal or purchase of such Shareholder’s Shares at fair market value as a result of the Merger, or
    rights to dissent from the Merger, that such Shareholder may have. Each of the provisions of this Agreement is subject to compliance with applicable regulatory conditions and receipt of any required Governmental Authorization.

  
    4

    
      

    

  

  

  10.          Confidentiality. Each Shareholder recognizes that successful consummation of the transactions contemplated by the Merger Agreement may be
    dependent upon confidentiality with respect to the matters referred to herein. In this connection, pending public disclosure thereof, each Shareholder hereby agrees not to disclose or discuss such matters with any Person not a party to this Agreement
    (other than such Shareholder’s counsel and advisors, if any) without the prior written consent of Heartland and AIM, except for disclosures that Shareholder’s counsel advises are necessary in order to fulfill any Law, in which event Shareholder shall
    give notice of such disclosure to Heartland and AIM as promptly as practicable so as to enable Heartland and AIM to seek a protective order from a court of competent jurisdiction with respect thereto.

   

  11.          Termination. This Agreement shall terminate and be of no further force or effect whatsoever as of the Expiration Date.

   

  12.          Miscellaneous Provisions.

   

  (a)            Amendments, Modifications and Waivers. No amendment, modification or waiver in respect of this Agreement shall be effective against any party
    unless it shall be in writing and signed by Heartland, AIM and the Shareholder against which it is enforced.

   

  (b)            Entire Agreement. This Agreement and the Merger Agreement constitute the entire agreement among the parties to this Agreement, and supersede all
    other prior agreements and understandings and representations and warranties, both written and oral, among or between any of the parties with respect to the subject matter hereof and thereof.

   

  (c)            Governing Law. This Agreement shall be governed by and construed in accordance with the Laws of the State of Texas, regardless of the Laws that
    might otherwise govern under applicable principles of conflicts of Law thereof.

   

  (d)            WAIVER OF JURY TRIAL. EACH OF THE PARTIES IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BETWEEN THE PARTIES
    ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

   

  (e)            Attorneys’ Fees. In any action at Law or suit in equity to enforce this Agreement or the rights of any of the parties hereunder, the prevailing
    party in such action or suit shall be entitled to receive a reasonable sum for its attorneys’ fees and all other reasonable costs and expenses incurred in such action or suit.

  
    5

    
      

    

  

  

  (f)            Assignment and Successors. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto
    and their respective successors and permitted assigns, including, without limitation, each Shareholder’s estate upon the death of such Shareholder, provided that, except as otherwise specifically provided herein, neither this Agreement nor any of the
    rights, interests or obligations of the parties hereto may be assigned by any of the parties hereto without prior written consent of the other parties hereto, except as expressly contemplated by Section 2, and except that Heartland, without obtaining
    the consent of any other party hereto, shall be entitled to assign this Agreement or all or any of its rights or obligations hereunder to any one or more Affiliates of Heartland, but no assignment by Heartland under this Section 12(f) shall relieve
    Heartland of its obligations under this Agreement. Any assignment in violation of the foregoing shall be void and of no effect.

   

  (g)            No Third Party Rights. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person (other than the parties
    hereto) any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

   

  (h)            Cooperation. Each Shareholder agrees to cooperate fully with Heartland and to execute and deliver such further documents, certificates,
    agreements and instruments and to take such other actions as may be reasonably requested by Heartland to evidence or reflect the transactions contemplated by this Agreement and to carry out the intent and purpose of this Agreement. Each Shareholder
    agrees that Heartland and AIM may publish and disclose in the Proxy Statement/Prospectus such Shareholder’s identity and ownership of any Shares and the nature of such Shareholder’s commitments, arrangements and understandings under this Agreement.

   

  (i)             Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions
    of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

   

  (j)             Time of Essence. With regard to all dates and time periods set forth or referred to in this Agreement, time is of the essence.

   

  (k)            Specific Performance; Injunctive Relief. The parties hereto acknowledge that Heartland and AIM shall be irreparably harmed and that there shall
    be no adequate remedy at Law for a violation of any of the covenants or agreements of any Shareholder set forth in this Agreement. Therefore, each Shareholder hereby agrees that, in addition to any other remedies that may be available to Heartland or
    AIM, as applicable, upon any such violation, Heartland or AIM shall have the right to enforce such covenants and agreements by specific performance, injunctive relief or by any other means available to such party at Law or in equity without posting any
    bond or other undertaking.

   

  (l)             Notices. All notices, consents, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed
    given if (a) delivered to the appropriate address by hand or overnight courier (providing proof of delivery), or (b) sent by e-mail with confirmation of transmission by the transmitting equipment confirmed with a copy delivered as provided in clause
    (a), in each case to the parties at the following address or e-mail address (or at such other address or e-mail address for a party as shall be specified by like notice): (i) if to Heartland or AIM, to the address or e-mail address provided in the
    Merger Agreement, including to the persons designated therein to receive copies thereof; and (ii) if to a Shareholder, to such Shareholder’s address or e-mail address shown below such Shareholder’s signature on the signature pages hereof.

  
    6

    
      

    

  

  

  (m)           Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall constitute
    one and the same instrument, 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.

   

  (n)            Headings. The headings contained in this Agreement are for the convenience of reference only, shall not be deemed to be a part of this Agreement
    and shall not be referred to in connection with the construction or interpretation of this Agreement.

   

  (o)            Legal Representation. This Agreement was negotiated by the parties with the benefit of legal representation and any rule of construction or
    interpretation otherwise requiring this Agreement to be construed or interpreted against any party shall not apply to any construction or interpretation thereof.

   

  (p)            Several and Not Joint. Each of the Shareholders makes the representations, warranties and agreements contained herein individually and severally
    and not jointly with any other Shareholder or Person.

    

  

   

  [The remainder of this page is intentionally blank.]

  
    7

    
      

    

  

  
  IN WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed as of the date first above written.

   

  	 	HEARTLAND:
	 	 	 	 
	 	HEARTLAND FINANCIAL USA, INC.
	 	 	 	 
	 	By	/s/ Lynn B. Fuller
	 	 	Name:	Lynn B. Fuller
	 	 	Title:	Executive Operating Chairman
	 	 	 	 
	 	AIM:
	 	 	 	 
	 	AIM BANCSHARES, INC.
	 	 	 	 
	 	By:	/s/ Scott L. Wade
	 	 	Name:	Scott L. Wade
	 	 	Title:	Chairman of the Board, President and
	 	 	 	Chief Executive Officer

  

  	 	 	 
	 	SHAREHOLDERS:
	 	 	 
	 	     /s/ Scott L. Wade
	 	Name:	Scott L. Wade
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 1,850.96
	 	 	 
	 	     /s/ Jeremy Ferrell
	 	Name:	Jeremy Ferrell
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 855.49
	 	 	 
	 	     /s/ Buford Duff
	 	Name:	Buford Duff
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 417.00

   

  [Signature page to Voting Agreement]

  
    
      

    

  

  

  	 	 	 
	 	     /s/ Kenny Willmon
	 	Name:	Kenny Willmon
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 792.50
	 	 	 
	 	     /s/ Jay Lee
	 	Name:	Jay Lee
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 120.00
	 	 	 
	 	     /s/ Jonathan Hill
	 	Name:	Jonathan Hill
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 318.60
	 	 	 
	 	     /s/ Chris Thompson
	 	Name:	Chris Thompson
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 1,078.80
	 	 	 
	 	     /s/ Chad Alexander
	 	Name:	Chad Alexander
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 462.59
	 	 	 
	 	     /s/ Mike Epps
	 	Name:	Mike Epps
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 175.85

   

  [Signature page to Voting Agreement]

  
    
      

    

  

  
  

  	 	 	 
	 	     /s/ Fred Locker
	 	Name:	Fred Locker
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 246.00
	 	 	 
	 	     /s/ Eddie Hedges
	 	Name:	Eddie Hedges
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 59.00
	 	 	 
	 	     /s/ Robert E. Finney
	 	Name:	Robert E. Finney
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 41.00
	 	 	 
	 	     /s/ Troy Allcorn
	 	Name:	Troy Allcorn
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 97.00
	 	 	 
	 	     /s/ Alan Henry
	 	Name:	Alan Henry
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 38.00
	 	 	 
	 	     /s/ Paula Bell
	 	Name:	Paula Bell
	 	Address:	[Intentionally Omitted]
	 	Telephone:	[Intentionally Omitted]
	 	E-Mail:	[Intentionally Omitted]
	 	Shares Beneficially Owned: 144.00

   

  [Signature page to Voting Agreement]

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