Document:

EXHIBIT 10.3

 Exhibit 10.3 
 EMPLOYMENT AGREEMENT 
 OF 

Tony VunCannon 
 Howard Sellinger 
 Charles Abbitt 

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of this
         day of                 , 20__, by and between HomeTrust Bancshares, Inc, Asheville, North Carolina
(hereinafter referred to as the “Company”) and              (the “Employee”). 
 WHEREAS, the Employee serves as              of HomeTrust Bank, Asheville, North Carolina (the “Bank”); and 

WHEREAS, the board of directors of the Company (the “Board of Directors”) believes it is in the best interests of the Company
and the Bank to enter into this Agreement with the Employee in order to assure continuity of management on behalf of the Company and the Bank; and 
 WHEREAS, the Board of Directors has approved and authorized the execution of this Agreement with the Employee; 
 NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements of the parties herein contained, it is AGREED as follows: 

1. Definitions. 
 (a) The term “Change in Control” means any of the following events occurring: (i) the acquisition by any “person” or “group” (as defined in Sections 13(d) and 14(d) of
the Securities Exchange Act of 1934 (“Exchange Act”)), other than the Company, any subsidiary of the Company or their employee benefit plans, directly or indirectly, as “beneficial owner” (as defined in Rule 13d-3, under the
Exchange Act) of securities of the Company representing twenty percent (20%) or more of either the then outstanding shares or the combined voting power of the then outstanding securities of the Company; (ii) either a majority of the
directors of the Company elected at the Company’s annual stockholders meeting shall have been nominated for election other than by or at the direction of the “incumbent directors” of the Company, or the “incumbent directors”
shall cease to constitute a majority of the directors of the Company. The term “incumbent director” shall mean any director who was a director of the Company on the Effective Date and any individual who becomes a director of the Company
subsequent to the Effective Date and who is elected or nominated by or at the direction of at least two-thirds of the then incumbent directors; (iii) the shareholders of the Company approve (x) a merger, consolidation or other business
combination of the Company with any other “person” or “group” (as defined in Sections 13(d) and 14(d) of the Exchange Act) or affiliate thereof, other than a merger or consolidation that would result in the outstanding common
stock of the Company immediately prior thereto continuing to represent (either by remaining outstanding or by being 

 
converted into common stock of the surviving entity or a parent or affiliate thereof) at least fifty percent (50%) of the outstanding common stock of the Company or such surviving entity or
a parent or affiliate thereof outstanding immediately after such merger, consolidation or other business combination, or (y) a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company or the Bank of
all or substantially all of the Company’s or the Bank’s assets; or (iv) any other event or circumstance which is not covered by the foregoing subsections but which the Board of Directors determines to affect control of the Company and
with respect to which the Board of Directors adopts a resolution that the event or circumstance constitutes a Change of Control for purposes of the Agreement. The Change of Control Date is the date on which an event described in (i), (ii),
(iii) or (iv) occurs. 
 (b) The term “Consolidated Subsidiaries” means any subsidiary or
subsidiaries of the Company (or its successors) that are part of the consolidated group of the Company (or its successors) for federal income tax reporting. 
 (c) The term “Date of Termination” means the date upon which the Employee’s employment with the Company or the Bank or both ceases, as specified in a notice of termination pursuant to
Section 8 of this Agreement. 
 (d) The term “Effective Date” means
                 , 2011. 
 (e) The term “Involuntary Termination” means the termination of the employment of Employee (i) by the Company without his express written consent; or (ii) by the Employee by reason of
a material diminution of or interference with his duties, responsibilities or benefits, including (without limitation) any of the following actions unless consented to in writing by the Employee: (1) a requirement that the Employee be based at
any place other than Asheville, North Carolina, or within 20 miles thereof, except for reasonable travel on Company or Bank business; (2) a material demotion of the Employee; (3) a material reduction in the number or seniority of Company
or Bank personnel reporting to the Employee or a material reduction in the frequency with which, or in the nature of the matters with respect to which such personnel are to report to the Employee, other than as part of a Company- or Bank-wide
reduction in staff; (4) a reduction in the Employee’s salary or a material adverse change in the Employee’s perquisites, benefits, contingent benefits or paid time off, other than prior to a Change in Control as part of an overall
program applied uniformly and with equitable effect to all members of the senior management of the Company or the Bank; (5) a material permanent increase in the required hours of work or the workload of the Employee; or (6) the failure of
the Board of Directors (or a board of directors of a successor of the Company) to elect him as                      of the Company (or a
successor of the Company) or any action by the Board of Directors of the Company (or a board of directors of a successor of the Company) removing him from any of such offices, or the failure of the board of directors of the Bank (or any successor of
the Bank) to elect him as                      of the Bank (or any successor of the Bank) or any action by such board of directors (or board
of a successor of the Bank) removing him from any of such offices. The term “Involuntary Termination” does not include Termination for Cause or termination of employment due to death or permanent disability pursuant to Section 7(g) of
this Agreement, or suspension or temporary or permanent prohibition from participation in the conduct of the affairs of a depository institution under Section 8 of the Federal Deposit Insurance Act. 

  
 2 

 (f) The terms “Termination for Cause” and “Terminated for
Cause” mean termination of the employment of the Employee because of the Employee’s dishonesty, incompetence, willful misconduct, breach of a fiduciary duty involving personal profit, intentional failure to perform stated duties, willful
violation of any law, rule, or regulation (excluding violations which do not have a material adverse affect on the Company or the Bank) or final cease-and-desist order, or (except as provided below) material breach of any provision of this
Agreement. No act or failure to act by the Employee shall be considered willful unless the Employee acted or failed to act with an absence of good faith and without a reasonable belief that his action or failure to act was in the best interest of
the Company or the Bank. The Employee shall not be deemed to have been Terminated for Cause unless and until there shall have been delivered to the Employee a copy of a resolution, duly adopted by the affirmative vote of not less than a majority of
the entire membership of the Board of Directors at a meeting of the Board duly called and held for such purpose (after reasonable notice to the Employee and an opportunity for the Employee, together with the Employee’s counsel, to be heard
before the Board), stating that in the good faith opinion of the Board of Directors the Employee has engaged in conduct described in the preceding sentence and specifying the particulars thereof in detail. The opportunity of the Employee to be heard
before the Board shall not affect the right of the Employee to arbitration as set forth in paragraph 18. 
 (g)
The term “Code” means the Internal Revenue Code of 1986, as amended, or any successor code thereto. 

(h) The term “Section 409A” means Section 409A of the Code and the regulations and guidance of general
applicability issued thereunder. 
 2. Term. The term of this Agreement shall be a period of two
years commencing on the Effective Date, subject to earlier termination as provided herein. On each anniversary of this Agreement the term shall be extended for a period of one year in addition to the then-remaining term, provided that the
Company has not given notice to the Employee in writing at least 90 days prior to such anniversary that the term of this Agreement shall not be extended further, and provided further that the Employee has not received an unsatisfactory
performance review by either the Board of Directors or the board of directors of the Bank. No annual extension can automatically extend beyond the Employee’s 65th Birthday. 
 3. Employment. The Employee is employed as the                      of the Company and as
the                      of the Bank. As such, the Employee shall render administrative and management services as are customarily performed
by persons situated in similar executive capacities, and shall have such other powers and duties as the Board of Directors or the board of directors of the Bank may prescribe from time to time. The Employee shall also render services to any
subsidiary or subsidiaries of the Company or the Bank as requested by the Company or the Bank from time to time consistent with his executive position. The Employee shall devote his best efforts and reasonable time and attention to the business and
affairs of the Company and the Bank to the extent necessary to discharge his responsibilities hereunder. The Employee may (i) serve on corporate or charitable boards or committees, and (ii) manage personal investments, so long as such
activities do not interfere materially with performance of his responsibilities hereunder. 

  
 3 

 4. Cash Compensation. 

(a) Salary. The Company agrees to pay the Employee during the term of this Agreement a base salary of $180,000 per
year (the “Company Salary”) the annualized amount of which shall be not less than the annualized aggregate amount of the Employee’s base salary from the Company and any Consolidated Subsidiaries in effect at the Effective Date;
provided that any amounts of salary actually paid to the Employee by any Consolidated Subsidiaries including the Bank shall reduce the amount to be paid by the Company to the Employee. The Company Salary shall be paid no less frequently than
monthly and shall be subject to customary tax withholding. The amount of the Employee’s Company Salary may be increased (but shall not be decreased other than prior to a Change in Control as part of an overall program applied uniformly and with
equitable effect to all members of senior management of the Company or the Bank) from time to time in accordance with the amounts of salary approved by the Board of Directors or the board of directors of any of the Consolidated Subsidiaries after
the Effective Date. 
 (b) Bonuses. The Employee shall be entitled to participate in an equitable manner
with all other executive officers of the Company and the Bank in such performance-based and discretionary bonuses, if any, as are authorized and declared by the Board of Directors for executive officers of the Company and by the board of directors
of the Bank for executive officers of the Bank. Any discretionary bonus shall be paid not later than 2 1/2 months after the year in which the Employee obtains a legally binding right to the bonus. If the discretionary bonus cannot be paid by that
date, then it shall be paid on the next following April 15, or such other date during the year as permitted under Section 409A. 
 (c) Expenses. The Employee shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Employee in performing services under this Agreement in accordance with the
policies and procedures applicable to the executive officers of the Company and the Bank, provided that the Employee accounts for such expenses as required under such policies and procedures. 

5. Benefits. 
 (a) Participation in Benefit Plans. The Employee shall be entitled to participate, to the same extent as executive officers of the Company and the Bank generally, in all plans of the Company and
the Bank relating to pension, retirement, thrift, profit-sharing, savings, group or other life insurance, hospitalization, medical and dental coverage, travel and accident insurance, education, cash bonuses, and other retirement or employee benefits
or combinations thereof. In addition, the Employee shall be entitled to be considered for benefits under all of the stock and stock option related plans in which the Company’s or the Bank’s executive officers are eligible or become
eligible to participate. 
 (b) Fringe Benefits. The Employee shall be eligible to participate in, and
receive benefits under, any other fringe benefit plans or perquisites which are or may become generally available to the Company’s or the Bank’s executive officers and other such benefits as the Board of Directors may provide in its
discretion. 

  
 4 

 6. Paid Time Off (PTO); Leave. The Employee shall be entitled to PTO each year in
accordance with the policies established by the Board of Directors and the board of directors of the Bank for executive officers. The Employee also shall be eligible for voluntary leaves of absence, with or without pay, from time to time at such
times and upon such conditions as the Board of Directors may determine in its discretion. 
 7. Termination of
Employment. 
 (a) Involuntary Termination. If the Employee experiences an Involuntary Termination,
such termination of employment shall be subject to the Company’s obligations under this Section 7. In the event of the Involuntary Termination of the Employee, the Company shall, during the remaining term of this Agreement (i) pay to
the Employee monthly one-twelfth of the Company Salary at the annual rate in effect immediately prior to the Date of Termination and one-twelfth of the average annual amount of cash bonus and cash incentive compensation of the Employee, based on the
average amounts of such compensation earned by the Employee from the Company and any Consolidated Subsidiaries for the two full fiscal years preceding the Date of Termination; and (ii) maintain substantially the same hospitalization, medical,
dental, prescription drug and other health benefits offered by the Company from time to time to its employees generally to comply with the continuation coverage requirements of Code Section 4980B(f) (i.e., “COBRA” coverage) for the
benefit of the Employee and his eligible dependents who would have been eligible for such benefits if the Employee had not suffered Involuntary Termination. No payment shall be made under this Section 7(a) unless the Employee’s termination
of employment qualifies as a “Separation from Service” (as that phrase is defined in Section 409A taking into account all rules and presumptions provided for in the Section 409A regulations). If the Employee is a “Specified
Employee” (as defined in Section 409A) at the time of his Separation from Service, then payments under this Section 7(a) which are not considered paid on account of an involuntary separation from service (as defined in Treasury
Regulation Section 1.409A-1(b)(9)(iii)), and as such constitute deferred compensation under Section 409A, shall not be paid until the 185th day following the Employee’s Separation from Service, or his earlier death (the “Delayed
Distribution Date”). Any payments deferred on account of the preceding sentence shall be accumulated without interest and paid with the first payment that is payable in accordance with the preceding sentence and Section 409A. To the extent
permitted by Section 409A, amounts payable under this Section 7(a) which are considered deferred compensation shall be treated as payable after amounts which are not considered deferred compensation (i.e., which are considered payable on
account of an involuntary separation from service as herein defined herein). 
 (b) Change in Control. In
the event that the Employee experiences an Involuntary Termination within the six months preceding, at the time of, or within 12 months following a Change in Control, in addition to the Company’s obligations under Section 7(a) of this
Agreement, the Company shall pay to the Employee in cash, within 30 days after the later of the date of such Change in Control or the Date of Termination, an amount equal to 299% of the Employee’s “base amount” as determined under
Section 280G of the Code. 
 (c) Certain Reduction of Payments by the Bank. 

(i) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or
distribution by the Company or its Consolidated Subsidiaries to or for the benefit of the Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise) (a “Payment”) would be

  
 5 

 
nondeductible (in whole or part) by the Company on a consolidated basis for Federal income tax purposes because of Section 280G of the Code, then the aggregate present value of amounts
payable or distributable to or for the benefit of the Employee pursuant to this Agreement (such amounts payable or distributable pursuant to this Agreement are hereinafter referred to as “Agreement Payments”) shall be reduced to the
Reduced Amount. The “Reduced Amount” shall be an amount, not less than zero, expressed in present value which maximizes the aggregate present value of Agreement Payments without causing any Payment to be nondeductible by the Company
because of Section 280G of the Code. For purposes of this Section 7(c), present value shall be determined in accordance with Section 280G(d)(3) and (4) of the Code. 

(ii) All determinations required to be made under this Section 7(c) related to the application of Section 280G
of the Code shall be made by the Company’s independent auditors, or at the election of such auditors by such other firm or individuals of recognized expertise as such auditors may select (such auditors or, if applicable, such other firm or
individual, are hereinafter referred to as the “Advisory Firm”). The Advisory Firm shall within ten business days of the Date of Termination, or at such earlier time as is requested by the Company, provide to both the Company and the
Employee an opinion (and detailed supporting calculations) that the Company has substantial authority to deduct for federal income tax purposes the full amount of the Agreement Payments and that the Employee has substantial authority not to report
on his federal income tax return any excise tax imposed by Section 4999 of the Code with respect to the Agreement Payments. Any such determination and opinion by the Advisory Firm shall be binding upon the Company and the Employee. The Employee
shall determine which and how much, if any, of the Agreement Payments shall be eliminated or reduced consistent with the requirements of this Section 7(c), provided that, if the Employee does not make such determination within ten business days
of the receipt of the calculations made by the Advisory Firm, the Company shall elect which and how much, if any, of the Agreement Payments shall be eliminated or reduced consistent with the requirements of this Section 7(c) and shall notify
the Employee promptly of such election. Within five business days of the earlier of (i) the Company’s receipt of the Employee’s determination pursuant to the immediately preceding sentence of this Agreement or (ii) the
Company’s election in lieu of such determination, the Company shall pay to or distribute to or for the benefit of the Employee such amounts as are then due the Employee under this Agreement. The Company and the Employee shall cooperate fully
with the Advisory Firm, including without limitation providing to the Advisory Firm all information and materials reasonably requested by it, in connection with the making of the determinations required under this Section 7(c). 

(iii) As a result of uncertainty in application of Section 280G of the Code at the time of the initial determination
by the Advisory Firm hereunder, it is possible that Agreement Payments will have been made by the Company which should not have been made (“Overpayment”) or that additional Agreement Payments will not have been made by the Company which
should have been made (“Underpayment”), in each case, consistent with the calculations required to be made hereunder. In the event that the Advisory Firm, based upon the assertion by the Internal Revenue Service against the Employee of a
deficiency which the Advisory Firm believes has a high probability of success determines that an Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the benefit of Employee shall be treated for all purposes
as a loan ab initio which the Employee shall repay to the Company together with interest at the applicable federal rate provided for in Section 1274 of 

  
 6 

 
the Code; provided, however, that no such loan shall be deemed to have been made and no amount shall be payable by the Employee to the Company if and to the extent such deemed loan and payment
would not either reduce the amount on which the Employee is subject to tax under Section 1 and Section 4999 of the Code or generate a refund of such taxes. In the event that the Advisory Firm, based upon controlling precedent or other
substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the benefit of the Employee together with interest at the applicable federal rate provided for in
Section 1274 of the Code. An Underpayment shall be treated as a disputed payment for purposes of Section 409A, and the parties shall act in accordance with Treasury Regulations Section 1.409A-3(g), regarding the resolution of the
Underpayment and the timing of the payment to eliminate the Underpayment. 
 (iv) Any payments made to the
Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. 1828(k) and any regulations promulgated thereunder. 

(d) Termination for Cause. In the event of Termination for Cause, the Company shall have no further obligation to
the Employee under this Agreement after the Date of Termination. 
 (e) Voluntary Termination. The
Employee may terminate his employment voluntarily at any time by a notice pursuant to Section 8 of this Agreement. In the event that the Employee voluntarily terminates his employment other than by reason of any of the actions that constitute
Involuntary Termination under Section 1(e)(ii) of this Agreement (“Voluntary Termination”), the Company shall be obligated to the Employee for the amount of his Company Salary and benefits only through the Date of Termination, at the
time such payments are due, and the Company shall have no further obligation to the Employee under this Agreement. 
 (f) Death. In the event of the death of the Employee while employed under this Agreement and prior to any termination of employment, the Company shall pay to the Employee’s estate, or such
person as the Employee may have previously designated in writing, (i) the Involuntary Termination compensation described in Section 7(a)(i) through the last day of the calendar month in which Employee’s death occurred and plus either
the greater of (A) an additional period of three months Company Salary or (B) if applicable, the Change in Control payment set forth in Section 7(b), provided Employee died within six months prior or 12 months following such change in
control; and (ii) the amounts of any benefits or awards which, pursuant to the terms of any applicable plan or plans, were earned with respect to the fiscal year in which the Employee died and which the Employee would have been entitled to
receive if he had continued to be employed, and the amount of any bonus or incentive compensation for such fiscal year which the Employee would have been entitled to receive if he had continued to be employed, pro-rated in accordance with the
portion of the fiscal year prior to his death, provided that such amounts shall be payable when and as ordinarily payable under the applicable plans. 
 (g) Permanent Disability. One of the benefits provided by the Bank (which benefit will be continued during the term of the Agreement) is disability insurance for the benefit of the Employee either
pursuant to a disability insurance program sponsored by the Bank (or the Company after the date hereof) for employees generally or a related “carve out” or similar disability income policy owned by the Employee that is established in
conjunction with the 

  
 7 

 
disability program sponsored by the Bank (or the Company after the date hereof), regardless if the premium is paid by the Company, the Bank or the Employee, or a combination of them (the
“Disability Plan”). For purposes of this Agreement, the term “permanently disabled” means that the Employee has a mental or physical infirmity which permanently impairs his ability to perform substantially his duties and
responsibilities under this Agreement and which results in (i) eligibility of the Employee under the Disability Plan, or (ii) inability of the Employee to perform substantially his duties and responsibilities under this Agreement for a
period of 180 consecutive days. The Company may terminate the employment of the Employee after having established that the Employee is permanently disabled. After exhaustion of all Paid Time Off days allocated for a calendar year pursuant to
Section 6, the Company will pay to the Employee the Involuntary Termination compensation described in Section 7(a)(i) for the remainder of the term of this Agreement, reduced by the proceeds of any Disability Plan then in effect. If the
Employee terminates employment on account of being permanently disabled (as defined herein) during the one year commencing on the effective date of a Change in Control, then he shall receive the Change in Control benefit described in
Section 7(b), payable at the same time and in the same manner as provided for under this Agreement, or the disability benefit described in this Section 7(g), whichever is greater in value (determined on a present value basis using as a
discount rate the short-term Applicable Federal Rate (within the meaning of Code Section 1274) in effect on the date of permanent disability. 
 (h) Regulatory Action. Notwithstanding any other provisions of this Agreement: 
 (1) If the Employee is removed and/or permanently prohibited from participating in the conduct of the affairs of a depository institution by an order issued under Section 8(e)(4) or (g)(1) of the
Federal Deposit Insurance Act (“FDIA”), 12 U.S.C. 1818(e)(4) and (g)(1), all obligations of the Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be
affected;. 
 (2) If the Company is in default (as defined in Section 3(x)(1) of the FDIA), all obligations
of the Company under this Agreement shall terminate as of the date of default, but this provision shall not affect any vested rights of the contracting parties; and 

(3) All obligations of the Company under this Agreement shall be terminated, except to the extent determined that
continuation of this Agreement is necessary for the continued operation of the Bank: (i) by the Office of the Comptroller of the Currency (the “OCC”) or his or her designee, at the time the Federal Deposit Insurance Corporation enters
into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA; or (ii) by the OCC, at the time the OCC approves a supervisory merger to resolve problems related to operation
of the Bank or when the Bank is determined by the OCC to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by any such action. Payments under this Agreement that are suspended
under this Section 7(h), but are later determined by the applicable regulatory authority to be payable, shall be paid on the earliest date practicable thereafter. 

  
 8 

 8. Notice of Termination. In the event that the Company desires to terminate the
employment of the Employee during the term of this Agreement, the Company shall deliver to the Employee a written notice of termination, stating whether such termination constitutes Termination for Cause or Involuntary Termination, setting forth in
reasonable detail the facts and circumstances that are the basis for the termination, and specifying the date upon which employment shall terminate, which date shall be at least 30 days after the date upon which the notice is delivered, except in
the case of Termination for Cause. In the event that the Employee determines in good faith that he has experienced an Involuntary Termination of his employment, he shall send a written notice to the Company stating the circumstances that constitute
such Involuntary Termination and the date upon which his employment shall have ceased due to such Involuntary Termination. In the event that the Employee desires to effect a Voluntary Termination, he shall deliver a written notice to the Company,
stating the date upon which employment shall terminate, which date shall be at least 30 days after the date upon which the notice is delivered, unless the parties agree to a date sooner. 

9. Attorneys Fees. The Company shall pay all legal fees and related expenses (including the costs of experts, evidence and
counsel) incurred by the Employee as a result of (i) the Employee’s contesting or disputing any termination of employment, or (ii) the Employee’s seeking to obtain or enforce any right or benefit provided by this Agreement or by
any other plan or arrangement maintained by the Company (or its successors) or any of the Consolidated Subsidiaries under which the Employee is or may be entitled to receive benefits; provided that the Company’s obligation to pay such
fees and expenses is subject to the Employee’s prevailing with respect to the matters in dispute in any action initiated by the Employee or the Employee’s having been determined to have acted reasonably and in good faith with respect to
any action initiated by the Company. 
 10. Non-Disclosure and Non-Solicitation. 

(a) Non-Disclosure. The Employee acknowledges that he has acquired, and will continue to acquire while employed by
the Company and/or performing services for Consolidated Subsidiaries, special knowledge of the business, affairs, strategies and plans of the Company and the Consolidated Subsidiaries which has not been disclosed to the public and which constitutes
confidential and proprietary business information owned by the Company and the Consolidated Subsidiaries, including but not limited to, information about the customers, customer lists, software, data, formulae, processes, inventions, trade secrets,
marketing information and plans, and business strategies of the Company and the Consolidated Subsidiaries, and other information about the products and services offered or developed or planned to be offered or developed by the Company and/or the
Consolidated Subsidiaries (“Confidential Information’). The Employee agrees that, without the prior written consent of the Company, he shall not, during the term of his employment or at any time thereafter, in any manner directly or
indirectly disclose any Confidential Information to any person or entity other than the Company and the Consolidated Subsidiaries. Notwithstanding the foregoing, if the Employee is requested or required (including but not limited to by oral
questions, interrogatories, requests for information or documents in legal proceeding, subpoena, civil investigative demand or other similar process) to disclose any Confidential Information the Employee shall provide the Company with prompt written
notice of any such request or requirement so that the Company and/or a Consolidated Subsidiary may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Section 10(a). If, in the absence of a
protective order or other remedy or the receipt of a waiver from the Company, the Employee is nonetheless legally compelled to disclose Confidential Information to any tribunal or else stand liable for

  
 9 

 
contempt or suffer other censure or penalty, the Employee may, without liability hereunder, disclose to such tribunal only that portion of the Confidential Information which is legally required
to be disclosed, provided that the Employee exercise his best efforts to preserve the confidentiality of the Confidential Information, including without limitation by cooperating with the Company and/or a Consolidated Subsidiary to obtain an
appropriate protective order or other reliable assurance that confidential treatment will be accorded the Confidential Information by such tribunal. On the Date of Termination, the Employee shall promptly deliver to the Company all copies of
documents or other records (including without limitation electronic records) containing any Confidential Information that is in his possession or under his control, and shall retain no written or electronic record of any Confidential Information.

 (b) Non-Solicitation. During the three year period next following the Date of Termination, the Employee
shall not directly or indirectly solicit, encourage, or induce any person while employed by the Company or any Consolidated Subsidiary to (i) leave the Company or any Consolidated Subsidiary, (ii) cease his or her employment with the
Company or any Consolidated Subsidiary or (iii) accept employment with another entity or person. 
 The provisions of this
Section 10 shall survive any termination of the Employee’s employment and any termination of this Agreement. 
 11.
No Assignments. 
 (a) This Agreement is personal to each of the parties hereto, and neither party may
assign or delegate any of its rights or obligations hereunder without first obtaining the written consent of the other party; provided, however, that the Company shall require any successor or assign (whether direct or indirect, by purchase, merger,
consolidation or otherwise) by an assumption agreement in form and substance satisfactory to the Employee, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such succession or assignment had taken place. Failure of the Company to obtain such an assumption agreement prior to the effectiveness of any such succession or assignment shall be a breach of this Agreement and shall entitle the
Employee to compensation and benefits from the Company in the same amount and on the same terms as provided for an Involuntary Termination under Section 7 hereof. For purposes of implementing the provisions of this Section 11(a), the date
on which any such succession becomes effective shall be deemed the Date of Termination. 
 (b) This Agreement and
all rights of the Employee hereunder shall inure to the benefit of and be enforceable by the Employee’s personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

12. No Mitigation. The Employee shall not be required to mitigate the amount of any salary or other payment or benefit provided
for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Agreement be reduced by any compensation earned by the Employee as the result of employment by another employer, by
retirement benefits after the date of termination or otherwise. 

  
 10 

 13. Notice. For the purposes of this Agreement, notices and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage prepaid, to the Company at its principal office, to the attention
of the Board of Directors with a copy to the Secretary of the Company, or, if to the Employee, to such home or other address as the Employee has most recently provided in writing to the Company. 

14. Amendments. No amendments or additions to this Agreement shall be binding unless in writing and signed by both parties, except
as herein otherwise provided. 
 15. Headings. The headings used in this Agreement are included solely for convenience
and shall not affect, or be used in connection with, the interpretation of this Agreement. 
 16. Severability. The
provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

17. Governing Law. This Agreement shall be governed by the laws of the State of North Carolina. 

18. Arbitration. Any dispute or controversy arising under or in connection with this Agreement (other than relating to the
enforcement of the provisions of Section 10) shall be settled exclusively by arbitration in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court
having jurisdiction. 
 19. Equitable and Other Judicial Relief. In the event of an actual or threatened breach by the
Employee of any of the provisions of Section 10, the Company shall be entitled to equitable relief in the form of an injunction from a court of competent jurisdiction and such other equitable and legal relief as such court deems appropriate
under the circumstances. The parties agree that the Company shall not be required to post any bond in connection with the grant or issuance of an injunction (preliminary, temporary and/or permanent) by a court of competent jurisdiction, and if a
bond is nevertheless required, the parties agree that it shall be in a nominal amount. The parties further agree that in the event of a breach by the Employee of any of the provisions of Section 10, the Company and/or one or more of its
Consolidated Subsidiaries will suffer irreparable damage and its remedy at law against the Employee is inadequate to compensate it for such damage. 

  
 11 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
above written. 
 THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES. 

 

	
	HOMETRUST BANCSHARES, INC.
	
	  
	By:
	Its:
	
	EMPLOYEE
	
	  

  
 12EXHIBIT 10.4

 Exhibit 10.4 
 EMPLOYMENT AGREEMENT 
 OF 

SIDNEY A. BIESECKER 
 This AGREEMENT entered into as of this 28th day of Jan., 2010 by and between HOMETRUST BANK (hereinafter referred to as the “Bank”) and SIDNEY A. BIESECKER (hereinafter referred to as the
“Employee”). 
 WHEREAS, the Employee has heretofore been employed by Industrial Federal Savings Bank
(“Industrial”) as its President and Managing Officer and is experienced in the banking business; 
 WHEREAS, on even
date herewith Industrial has combined with and into the Bank. pursuant to the terms of a Mutual Partnership Combination Agreement entered into between Industrial and the Bank dated 10/13, 2009; 

WHEREAS, the services of the Employee, his experience and knowledge of the affairs of Industrial, and his reputation and contacts in the
banking industry are extremely valuable to the Bank; 
 WHEREAS, it is essential to the corporate strategy of the Bank to secure
the services of the Employee to maintain and enhance the continued success of Industrial Federal Savings Bank, as a partner bank of the Bank, following the partnership combination (the “Industrial Partner Bank”); 

WHEREAS, this Agreement is being entered into to assure continuity of management of the Industrial Partner Bank and to reinforce and
encourage the continued attention and dedication of the Employee to the Employee’s assigned duties; and 
 WHEREAS, the
parties desire by this writing to set forth the employment relationship between the Bank and the Employee. 
 NOW, THEREFORE,
the parties hereto agree as follows: 
 1. Employment. The Employee is employed as the President and Managing Officer of
the Industrial Partner Bank. The Employee shall render administrative and management services as are customarily performed by persons situated in a similar capacity. The Employee’s other duties shall be such as the Board of Directors of the
Industrial Partner Bank or the Bank may from time to time reasonably direct. 
 2. Base Salary. The Bank shall pay the
Employee an annual base salary of $160,000, payable in cash not less frequently than monthly. 
 3. Profit Sharing Bonus
Plan. The Employee shall be entitled to participate in the Bank’s Profit Sharing Bonus Plan with an annual bonus potential up to 15% of his annual base salary. Such bonus shall be based on the Employee’s performance over a 12 month
applicable period as determined by the Board of Directors of the Bank (the “Board”). No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such bonus when and as
declared by the Board. 

 4. Other Benefits. 

(a) Participation in Retirement and Medical Plans. The Employee shall be entitled to participate in any plan of the
Bank or carryover plan of Industrial, whichever is applicable, relating to pension, profit-sharing, 401(k) plan, or other retirement benefits and medical and dental coverage or reimbursement plans and life insurance plans that the Bank maintains or
may adopt for the benefit of its employees generally, or continuing Industrial employees generally, whichever is applicable. In addition, the Employee shall be entitled to participate in the Bank’s Executive Supplemental Retirement Income
Master Agreement and Defined Contribution Medical Care Plan in each case upon the terms set forth in his joinder agreement under each plan. 
 (b) Fringe Benefits. The Employee shall be eligible to participate in any fringe benefits which may be or become applicable to all of the Bank’s employees; and reimbursement for expenses
incurred in connection with the performance of his duties, payment of reasonable expenses for attending annual and periodic meetings of trade associations, and reimbursement of his professional, trade and civic association dues and business
entertainment and similar expenses. The Employee shall also be entitled to receive one-time financial and tax planning services, at the expense of the Bank in an amount not to exceed $20,000, from a third party advisor selected by the Bank.

 5. Term. The term of this Agreement shall be for a period of three years commencing on the date hereof and may be
extended as provided herein (the “Term”). The Board of Directors of the Industrial Partner Bank shall have the right, based upon its -periodic review of the Employee’s performance, to extend the Term annually commencing in. the third
employment year for up to four annual extensions. 
 6. Standards. The Employee shall perform his duties under this
Agreement in accordance with standards in effect from time to time at the Bank and with such other reasonable standards expected of employees with comparable positions in comparable organizations. 

7. Paid Time Off (“PTO”). The Employee shall be entitled to PTO each year in accordance with the Bank’s then
current policy applicable to its management personnel. 
 8. Termination. 

(a) Death of Employee. This Agreement shall terminate upon the death of the Employee during the Term, at which time
the Employee’s estate shall be entitled to receive the pro rata share of the Employee’s “Total Compensation” through the last day of the calendar month in which the Employee’s death occurred plus an additional period of
three months. For purposes of this Agreement, Total Compensation shall mean the Employee’s annual base salary provided in Section 2 hereof, plus the annual cash bonus most recently awarded to the Employee by the Bank. All other benefits
provided by this Agreement (other than those provided through an insurance contract) shall thereupon be terminated. 

  
 2 

 (b) Without Cause. For purposes of this Agreement, the employment of
the Employee may be terminated at any time during the Term by a decision of the Board for conduct not constituting termination for cause, or by the Employee, upon thirty days written notice to the Bank or the Employee, as the case may be. This
Agreement may, at the option of the Employee, be deemed terminated by the Board without cause if the Bank fails to fulfill its obligations under this Agreement. In any event of termination described in this Section 8(b), the Employee’s
employment shall be deemed terminated thirty days after the terminating party gives written notice. Provided, however, in the event the Board proposes to terminate the employment of the Employee without cause during the Term, then in order to assure
that the Employee will realize his entitlements under any applicable non-qualified and qualified plans for the balance of the Term, the Employee will be placed on a paid leave of absence for the balance of the Term, subject to non-objection by the
Bank’s primary federal banking regulator. Provided further, if such paid leave of absence does not entitle the Employee to continued participation in any such qualified plan of the Bank for the balance of the Term, then in such event, at the
expiration of the Term the Employee shall be entitled to receive a bonus in an amount equal to the employer contributions that would have been made to the Employee’s account under such qualified plan had the Employee not been excluded from
continued participation therein for the remainder of the Tenn. 
 In the event this Agreement is terminated by the Board without
cause, or deemed terminated by the Board without cause due to the failure of the Bank to fulfill its obligations under this Agreement, the Employee’s compensation and benefits will continue at their then current level for the duration of the
Term; provided, however, if the Employee deems this Agreement terminated by the Board without cause, the Employee shall give the Board thirty days written notice that he deems the Bank to have terminated his employment, shall specify the basis for
such claim, and. shall have the burden to demonstrate grounds for deeming this Agreement terminated without cause. The Bank shall then have thirty days to cure, or to begin cure if completion is impossible, any breach of this Agreement demonstrated
to have occurred by Employee. 
 (c) For Cause. The Employee shall have no right to receive compensation
or other benefits for any period after termination for cause. Termination for cause shall include termination because of the Employee’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit,
intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or a material breach of any provision of this Agreement. In. the
event the Employee intentionally fails to perform stated duties, the Bank shall provide written notice to the Employee describing the intentional act or omission giving rise to such failure to perform. In the case where cure can be made by the
Employee, the written notice will permit a ten day cure period, except in the case of absenteeism where the cure period shall be two days. Provided, however, in no event will the Bank be required to allow the Employee to cure the same or
substantially similar violation more than once within a 12-month period. The Employee shall not be deemed to have been terminated for cause unless and until there shall have been delivered to the Employee a copy of a resolution, duly adopted by the
Board at a meeting of the Board called and held for such purpose, stating that, in the good faith opinion of the Board, the Employee has engaged in conduct described in the preceding sentence and specifying the particulars thereof in detail. If
requested by the Employee, following termination for cause the Board shall provide an opportunity for the Employee, together with counsel, to be heard before the Board. 

  
 3 

 (d) Costs of Enforcement. In the event any dispute shall arise
between the Employee and the Bank as to the terms or interpretation of this Agreement, including this Section 8, whether instituted by formal legal proceedings or otherwise, including any action taken by the Employee to enforce the terms of
this Section 8 or in defending against any action taken by the Bank, the Bank shall reimburse the Employee for all costs and expenses incurred in such proceedings or actions, including reasonable attorney’s fees, in the event the Employee
prevails in any such action. 
 (e) Regulatory Causes. 

(1) If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs
by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) or (g)(1)), all obligations of the Bank under this Agreement shall terminate as of the effective date of, the order, but vested rights
of the parties shall not be affected. 
 (2) If the Bank is in default (as defined in Section 3(x)(1) of the
Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this subsection (e)(2) shall not affect any vested rights of the parties. 

(3) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this
Agreement is necessary for the continued operation of the Bank (i) by the Director of the Office of Thrift Supervision (the “Director”) or his designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) or any
other Federal governmental agency enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act; or. (ii) by the Director or his designee, at
the time the Director or his designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have
already vested, however, shall not be affected by such action. 
 (4) If the Employee is suspended and/or
temporarily prohibited from .participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Bank’s obligations under
this Agreement shall be suspended as of the date of service unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay the Employee all or part of the compensation withheld while
its contract obligations were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. 
 (5) Any payments to the Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. 1828(k) and FDIC regulation 12 C.F.R. Part 359, Golden
Parachute and Indemnification Payments. 

  
 4 

 (f) Notice. Any termination of this Agreement by the Bank during the
Term shall be by written notice to the Employee. Such notice shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the transactions and occurrences, if any, which the Bank claims to
constitute a basis for termination. Notwithstanding anything contained in this Agreement to the contrary, the then current Term may not be extended after a notice of termination or after the Employee becomes disabled. 

9. Disability. One of the benefits provided by the Bank (which benefit will be continued during the Term) is disability income
insurance for the benefit of the Employee. If the Employee, in the opinion of a licensed physician, is disabled (i.e. unable on account of sickness or accident to regularly engage in or adequately perform his duties under this Agreement), the Bank
will continue to pay a portion of the Employee’s annual base salary for the remainder of the Term up to the maximum amount permitted without offset or reduction of any disability insurance proceeds. 

10. Successors and Assigns. 
 (a) This Agreement shall inure to the benefit of and be binding upon any corporate or other successor of the Bank which shall acquire, directly or indirectly, by merger, consolidation, purchase or
otherwise, all or substantially all of the assets of the Bank. 
 (b) It is acknowledged that the parties are
contracting for the unique and personal skills of the Employee, and therefore, the Employee shall be precluded from assigning or delegating his rights or duties hereunder without first obtaining the written consent of the Bank, which consent may be
arbitrarily withheld. 
 11. Prior Agreements Replaced. Any and all prior employment agreements or other agreements
relating to employment between Industrial and the Employee shall be deemed terminated and replaced by this Agreement. 
 12.
Amendments. No amendments or additions to this Agreement shall be binding unless in writing and signed by the Employee and the Bank. 
 13. Applicable Law. This Agreement shall be governed by all respects whether as to validity, construction, capacity, performance or otherwise, by the laws of North Carolina, except to the extent
that Federal law shall be deemed to apply. 
 14. Binding Effect. If this Agreement is executed prior to consummation of
the partnership combination between Industrial and the Bank, it shall not become effective until the date of completion of the partnership combination. Such completion date shall be the “date hereof” for all purposes of this Agreement. In
the case of prior execution, if the Mutual Partnership Combination Agreement between Industrial and the Bank is terminated for any reason this Agreement shall become void ab initio. 

15. Severabilitv. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any
provision shall not affect the validity or enforceability of the other provisions hereof. 
 16. Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original. 

  
 5 

 The parties have executed this Agreement on the day and year first above written.

  

			
	HOMETRUST BANK
		
	By	 	/s/ F. Ed Broadwell, Jr.
		 	Autorized Officer

  

	
	 /s/ Sidney A. Biesecker

	 Sidney A. Biesecker, Employee

  
 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}]]