Document:

EX-10.3

 Exhibit 10.3 

ARAMARK AGREEMENT RELATING TO EMPLOYMENT AND 

POST-EMPLOYMENT COMPETITION 

This Agreement is between the undersigned individual (“Employee”) and Aramark. 

RECITALS 
 WHEREAS,
Aramark is a leading provider of managed services to business and industry, private and public institutions, and the general public, in the following business groups: food and support services and uniform and career apparel; 

WHEREAS, Aramark has a proprietary interest in its business and financial plans and systems, methods of operation and other secret and
confidential information, knowledge and data (“Proprietary Information”) which includes, but is not limited to, all confidential, proprietary or non-public information, ideas and concepts; annual and
strategic business plans; financial plans, reports and systems including, profit and loss statements, sales, accounting forms and procedures and other information regarding costs, pricing and the financial condition of Aramark and its business
segments and groups; management development reviews, including information regarding the capabilities and experience of Aramark employees; intellectual property, including patents, inventions, discoveries, research and development, compounds,
recipes, formulae, reports, protocols, computer software and databases; information regarding Aramark’s relationships with its clients, customers, and suppliers and prospective clients, partners, customers and suppliers; policy and procedure
manuals, information regarding materials and documents in any form or medium (including oral, written, tangible, intangible, or electronic) concerning any of the above, or any past, current or future business activities of Aramark that is not
publicly available; compensation, recruiting and training, and human resource policies and procedures; and data compilations, research, reports, structures, compounds, techniques, methods, processes, and
know-how; 
 WHEREAS, all such Proprietary Information is developed at great expense to Aramark and
is considered by Aramark to be confidential trade secrets; 
 WHEREAS, Employee, as Executive Vice President, Chief Financial Officer of
Aramark, has access to Aramark’s Proprietary Information, directly in the course of Employee’s employment, and indirectly through interaction with and presentations by other Aramark senior managers at the Executive Leadership Institute,
Executive Leadership Council meetings, Presidents’ Council meetings and the like; 
 WHEREAS, Aramark from time to time introduces
Employee to Aramark clients, customers, suppliers and others, and encourages, and provides resources for, Employee to develop professional relationships with Aramark’s clients, customers, suppliers and others; 

WHEREAS, Aramark provides specialized training and skills to Employee in connection with the performance of Employee’s duties at Aramark
which training involves the disclosure by Aramark to Employee of Proprietary Information; and 
 WHEREAS, Aramark will be vulnerable to
unfair post-employment competition by Employee because Employee has access to and knowledge of Aramark’s Proprietary Information, has a personal relationship with Aramark’s clients, customers, suppliers and others, and generates good will
which Employee acknowledges belongs to Aramark. 

 NOW, THEREFORE, in consideration of Employee’s continued employment with Aramark, the
opportunity to receive the grant of options to purchase common stock of Aramark from time to time, severance and other post-employment benefits provided for herein (including pursuant to Exhibit B hereto to which Employee acknowledges Employee is
not otherwise entitled), and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Employee agrees to enter into this Agreement with Aramark as a condition of employment pursuant to which Aramark
will limit Employee’s right to compete against Aramark during and following termination of employment on the terms set forth in this Agreement. Intending to be legally bound, the parties agree as follows: 

ARTICLE 1 
 NON-DISCLOSURE AND NON-DISPARAGEMENT 
 Employee shall
not, during or after termination of employment, directly or indirectly, in any manner utilize or disclose to any person, firm, corporation, association or other entity, except where required by law, any Proprietary Information which is not generally
known to the public, or has not otherwise been disclosed or recognized as standard practice in the industries in which Aramark is engaged. Employee shall, during and after termination of employment, refrain from making any statements or comments of
a defamatory or disparaging nature to any third party regarding Aramark, or any of Aramark’s officers, directors, personnel, policies or products, other than to comply with law. 

ARTICLE 2 
 NON-COMPETITION 
 A.    Subject to Article 2.B. below, Employee, during
Employee’s period of employment with Aramark, and for a period of two years following the voluntary or involuntary termination of employment, shall not, without Aramark’s written permission, which shall be granted or denied in
Aramark’s sole discretion, directly or indirectly, associate with (including, but not limited to, association as a sole proprietor, owner, employer, partner, principal, investor, joint venturer, shareholder, associate, employee, member,
consultant, contractor or otherwise), or acquire or maintain ownership interest in, any Business which is competitive with that conducted by or developed for later implementation by Aramark at any time during the term of Employee’s employment,
provided, however, if Employee’s employment is involuntarily terminated by Aramark for any reason other than Cause (as defined herein), or (ii) terminated by Employee for Good Reason (as defined in Exhibit B) at any time
following a Change of Control (as defined in Exhibit B) occurring after the date of this Agreement, then the term of the non-competition provision set forth herein will be modified to be eighteen months
following such termination of employment. For purposes of this Agreement, “Business” shall be defined as a person, corporation, firm, LLC, partnership, joint venture or other entity. Nothing in the foregoing shall prevent Employee from
investing in a Business that is or becomes publicly traded, if Employee’s ownership is as a passive investor of less than 1% of the outstanding publicly traded stock of the Business. 

  
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 B.    The provision set forth in Article 2.A above, shall apply to the
full extent permitted by law (i) in all fifty states, and (ii) each foreign country, possession or territory in which Aramark may be engaged in, or have plans to engage in, business (x) during Employee’s period of employment, or
(y) in the case of a termination of employment, as of the effective date of such termination or at any time during the twenty-four month period prior thereto. 

C.    Employee acknowledges that these restrictions are reasonable and necessary to protect the business interests of
Aramark, and that enforcement of the provisions set forth in this Article 2 will not unnecessarily or unreasonably impair Employee’s ability to obtain other employment following the termination (voluntary or involuntary) of Employee’s
employment with Aramark. Further, Employee acknowledges that the provisions set forth in this Article 2 shall apply if Employee’s employment is involuntarily terminated by Aramark for Cause; as a result of the elimination of employee’s
position; for performance-related issues; or for any other reason or no reason at all. 
 ARTICLE 3 

NON-SOLICITATION 

During the period of Employee’s employment with Aramark and for a period of two years following the termination of Employee’s
employment, regardless of the reason for termination, Employee shall not, directly or indirectly: (i) induce or encourage any employee of Aramark to leave the employ of Aramark, (ii) hire any individual who was an employee of Aramark as of
the date of Employee’s termination of employment or within a six month period prior to such date, or (iii) induce or encourage any customer, client, supplier or other business relation of Aramark to cease or reduce doing business with
Aramark or in any way interfere with the relationship between any such customer, client, supplier or other business relation and Aramark. 

ARTICLE 4 

DISCOVERIES AND WORKS 

Employee hereby irrevocably assigns, transfers, and conveys to Aramark to the maximum extent permitted by applicable law Employee’s
right, title and interest now or hereinafter acquired, in and to all Discoveries and Works (as defined below) created, invented, designed, developed, improved or contributed to by Employee, either alone or jointly with others, while employed by
Aramark and within the scope of Employee’s employment and/or with the use of Aramark’s resources. The terms “Discoveries and Works” include all works of authorship, inventions, intellectual property, materials, documents, or
other work product (including, without limitation, Proprietary Information, patents and patent applications, patentable inventions, research, reports, software, code, databases, systems, applications, presentations, textual works, graphics and
audiovisual materials). Employee shall have the burden of proving that any materials or works created, invented, designed, developed, contributed to or improved by Employee that are implicated by or relevant to employment by Aramark are not
implicated by this provision. Employee agrees to (i) keep accurate records and promptly notify, make full disclosure to, and execute and deliver any documents and to take any further actions requested by Aramark to assist it in validating,
effectuating, maintaining, protecting, enforcing, perfecting, recording, patenting or registering any of its rights hereunder, 

  
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and (ii) renounce any and all claims, including, without limitation, claims of ownership and royalty, with respect to all Discoveries and Works and all other property owned or licensed by
Aramark. Any Discoveries and Works that, within six months after the termination of Employee’s employment with Aramark, are made, disclosed, reduced to a tangible or written form or description, or are reduced to practice by Employee and which
pertain to the business carried on or products or services being sold or developed by Aramark at the time of such termination shall, as between Employee and Aramark, be presumed to have been made during such employment with Aramark. Employee
acknowledges that, to the fullest extent permitted by law, all Discoveries and Works shall be deemed “works made for hire” under the Copyright Act of 1976, as amended, 17 U.S.C. Section 101. Employee hereby grants Aramark a perpetual,
nonexclusive, royalty-free, worldwide, assignable, sublicensable license under all rights and intellectual property rights (including patent, industrial property, copyright, trademark, trade secret, unfair competition and related laws) in any Works
and Discoveries, for all purposes in connection with Aramark’s current and future business, that Employee has created, invented, designed, developed, improved or contributed to prior to Employee’s employment with Aramark that are relevant
to or implicated by such employment (“Prior Works”). Any Prior Works are disclosed by Employee in Schedule 1. 
 ARTICLE 5

 REMEDIES 

Employee acknowledges that in the event of any violation by Employee of the provisions set forth in Articles 1, 2, 3 or 4 above, Aramark will
sustain serious, irreparable and substantial harm to its business, the extent of which will be difficult to determine and impossible to fully remedy by an action at law for money damages. Accordingly, Employee agrees that, in the event of such
violation or threatened violation by Employee, Aramark shall be entitled to an injunction before trial before any court of competent jurisdiction as a matter of course upon the posting of not more than a nominal bond, in addition to all such other
legal and equitable remedies as may be available to Aramark. If Aramark is required to enforce the provisions set forth in Articles 2 and 3 above by seeking an injunction, Employee agrees that the relevant time periods set forth in Articles 2 and 3
shall commence with the entry of the injunction. Employee further agrees that, in the event any of the provisions of this Agreement are determined by a court of competent jurisdiction to be invalid, illegal, or for any reason unenforceable as
written, such court shall substitute a valid provision which most closely approximates the intent and purpose of the invalid provision and which would be enforceable to the maximum extent permitted by law. 

ARTICLE 6 

POST-EMPLOYMENT BENEFITS 

A.    If Employee’s employment is terminated (i) by Aramark for any reason other than Cause or (ii) solely
in the case of the benefits described in Article 6.A.2.a, either (x) by Aramark for any reason other than Cause or (y) by Employee for any reason after the first anniversary of Employee’s Hire Date (as defined below), Employee shall
be entitled to the following post-employment benefits: 
 1.    Severance Pay: Employee shall receive
severance payments equivalent to Employee’s monthly base salary as of the effective date of termination for eighteen (18) 

  
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months. Severance payments shall commence with the Employee’s effective date of termination and shall be made in accordance with Aramark’s normal payroll cycle. The period during which
Employee receives severance payments shall be referred to as the “Severance Pay Period.” 
 2.    Other
Post-Employment Benefits 
 (a)    Basic Group medical, dental and vision coverage shall continue to be provided to
the Employee and his eligible dependents on substantially the same terms, costs and conditions as applied immediately prior to the effective date of termination, for the period commencing on the effective date of termination and ending on the date
on which Employee turns age 65 (the “Health Coverage Period”), subject to any changes to such coverage or costs that apply to similarly situated active employees of Aramark generally; provided, however, that if the Employee
becomes employed by a new employer during the Health Coverage Period, continuing coverage from Aramark hereunder and the Health Coverage Period will immediately terminate, so long as the Employee elects to participate in such new employer’s
coverage. During the Health Coverage Period, the Employee shall pay the employee portion of the applicable monthly premiums due in respect of such medical, dental and vision coverage received by the Employee and his eligible dependents, on the same
terms and conditions (including premium amount and payment timing) that the Employee would have paid had he remained employed during such month (the “Employee Premium Payments”); provided, however, that if the Employee fails
to make any Employee Premium Payments for a period of 90 consecutive days, Aramark shall have the right in its sole discretion to immediately terminate such continuing coverage, subject to Aramark’s obligation to continue to provide the
Employee with group medical, dental and vision coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Notwithstanding the foregoing, Aramark reserves the right to restructure the foregoing arrangement during
the Health Coverage Period in any manner necessary or appropriate to avoid fines, penalties or negative tax consequences to Aramark or the Employee (including, without limitation, to avoid any penalty imposed for violation of the nondiscrimination
requirements under the Patient Protection and Affordable Care Act or the guidance issued thereunder), as determined by Aramark in its sole and absolute discretion; provided, however, that any such restructure to the arrangement will
not result in a material cost increase to the Employee. Basic Group medical, dental and vision coverage provided during the Health Coverage Period shall be applied against Aramark’s obligation to continue group medical, dental and vision
coverage under COBRA. For the avoidance of doubt, Executive Leadership Council Medical Plan coverage shall not continue during the Health Coverage Period. 

(b)    If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to
provide the leased vehicle through the Severance Pay Period under the same terms and conditions as in effect at the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee must return the leased vehicle to
Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will
continue to be paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. 

  
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 (c)    Employee’s eligibility to participate in all other benefit
and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, any nonqualified retirement plans, and any stock option or ownership plans, shall terminate as of the effective date of Employee’s
termination unless provided otherwise under the terms of a particular plan; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the
Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee’s Executive Leadership Committee membership ceases, whichever occurs first. Employee, however, shall have certain rights to
continue the Executive Leadership Council Medical Plan under COBRA. 
 B.    Termination for “Cause” shall be
defined as termination of employment due to: (i) conviction or plea of guilty or nolo contendere to a felony, (ii) intentional fraud or dishonesty with respect to Aramark that causes material and demonstrable harm to Aramark,
(iii) willful and continuous failure to perform lawfully assigned duties that are consistent with the Employee’s position with Aramark, (iv) willful violation of Aramark’s Business Conduct Policy that causes material harm to
Aramark or its business reputation, or (v) intentionally working against the best interests of Aramark; in any case of conduct described in clause (ii)-(v), only if such conduct continues beyond ten business days after receipt by the Employee
from Aramark of a written demand to cure such conduct. 
 C.    Even if Employee commences other employment during such
period provided and such employment does not violate the terms of Article 2, and subject to the provisions of Article 6.E, (i) if Employee is terminated by Aramark for reasons other than Cause, subject to the provisions of Article 6.A.2.a,
Employee will receive the severance payments and other post-employment benefits during the Severance Pay Period and (ii) if Employee resigns in accordance with Article 6.A.(ii)(y), subject to the provisions of Article 6.A.2.a., Employee will be
entitled to the post-employment benefits during the Health Coverage Period. 
 Notwithstanding anything else contained in this Article 6 to
the contrary, Aramark may choose not to commence (or to discontinue) providing any payment or benefit unless and until Employee executes and delivers, without revocation, a release in form reasonably acceptable to Aramark, as described in Article
6.E within 60 days following Employee’s termination of employment; provided, however, that subject to receipt of such executed release, Aramark shall commence providing such payments and benefits within 75 days following the date
of termination of Employee’s employment. 
 D.    In addition to the remedies set forth in Article 5, Aramark
reserves the right to terminate all severance payments and other post-employment benefits (including the benefits described in Article 6.A.2.a) if Employee violates the covenants set forth in Articles 1, 2, 3 or 4 above in any material respect or,
in the case of the benefits described in Article 6.A.2.a only, if Employee violates the covenants set forth in Article 2 above in any material respect at any time during the Health Coverage Period. 

E.    Employee’s receipt of severance and other post-employment benefits under this Agreement is contingent on
(i) Employee’s execution and non-revocation of a release in a form reasonably acceptable to Aramark, except that such release shall not include any claims by

  
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Employee to enforce Employee’s rights under, or with respect to, (1) this Agreement (including the attached Exhibit B), (2) the Certificate of Incorporation and By-laws of Aramark, (3) any indemnification agreement between the Employee and Aramark or (4) any Aramark benefit plan pursuant to its terms, and (ii) the expiration of the applicable Age
Discrimination in Employment Act revocation period without such release being revoked by Employee. 
 ARTICLE 7 

TERM OF EMPLOYMENT 

Employee acknowledges that Aramark has the right to terminate Employee’s employment at any time for any reason whatsoever,
provided, however, that any termination by Aramark for reasons other than Cause shall result in the severance and the post-employment benefits described in Article 6 above, to become due in accordance with the terms of this Agreement
subject to the conditions set forth in this Agreement. Employee further acknowledges that the severance payments made and other benefits provided by Aramark are in full satisfaction of any obligations Aramark may have resulting from Aramark’s
exercise of its right to terminate Employee’s employment, except for those obligations which are intended to survive termination such as the payments to be made pursuant to retirement plans, deferred compensation plans, conversion of insurance,
and the plans and other documents and agreements referred to in Article 6.E above. 
 ARTICLE 8 

MISCELLANEOUS 

A.    As used throughout this Agreement, “Aramark” includes Aramark and its subsidiaries and affiliates or any
corporation, joint venture, or other entity in which Aramark or its subsidiaries or affiliates has an equity interest in excess of ten percent (10%). 

B.    Notwithstanding anything to the contrary contained herein, Employee shall, after termination of employment for Good
Reason by Employee or other than for Cause by Aramark, retain all rights to indemnification under applicable law or any agreement, or under Aramark’s or any parent corporation’s Certificate of Incorporation or By-Laws at a level that is at least as favorable to the Employee as that currently provided. In addition, the Company shall maintain Director’s and Officer’s liability insurance on behalf of Employee, at
the level in effect immediately prior to such date of termination, for the three-year period following the date of termination, and throughout the period of any applicable statute of limitations. 

C.    In the event that it is reasonably determined by Aramark that, as a result of the deferred compensation tax rules
under Section 409A of the Internal Revenue Code of 1986, as amended (and any related regulations or other pronouncements thereunder) (“the Deferred Compensation Tax Rules”), any of the payments and benefits that Employee is
entitled to under the terms of this Agreement (including under Exhibit B) may not be made at the time contemplated by the terms hereof or thereof, as the case may be, without causing Employee to be subject to tax under the Deferred Compensation Tax
Rules, Aramark shall, in lieu of providing such payment or benefit when otherwise due under this Agreement, instead provide such payment or benefit on the first day on which such provision would not result in Employee incurring any tax liability
under the Deferred Compensation Tax Rules; which day, if Employee 

  
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is a “specified employee” within the meaning of the Deferred Compensation Tax Rules, shall be the first day of the seventh month following the date of Employee’s termination of
employment (or the earliest date as is permitted under the Deferred Compensation Tax Rules, without any accelerated or additional tax); provided, further, that to the extent that the amount of payments due under Article 6.A (or Exhibit
B, as applicable) are not subject to the Deferred Compensation Tax Rules by virtue of the application of Treas. Reg. Sec. 1.409A-1(b)(9)(iii)(A), such payments may be made prior to the expiration of such six-month period. In addition, if the commencement of any payment or benefit provided under Article 6 that constitutes “deferred compensation” under the Deferred Compensation Tax Rules could, by
application of the terms conditioning such payment or benefit upon the execution and non-revocation of a release set forth in Article 6, occur in one of two taxable years, then the commencement of such payment
shall begin on the first payroll date occurring in January of such second taxable year. To the extent any reimbursements or in-kind benefits due to Employee under this Agreement constitute “deferred
compensation” under the Deferred Compensation Tax Rules, any such reimbursements or in-kind benefits shall be paid to Employee in a manner consistent with Treas. Reg.
Section 1.409A-3(i)(1)(iv). Additionally, to the extent that Employee’s receipt of any in-kind benefits from Aramark or its affiliates must be delayed pursuant
to this Section due to Employee’s status as a “specified employee,” Employee may elect to instead purchase and receive such benefits during the period in which the provision of benefits would otherwise be delayed by paying the Aramark
(or its affiliates) for the fair market value of such benefits (as determined by Aramark in good faith) during such period. Any amounts paid by Employee pursuant to the preceding sentence shall be reimbursed to Employee (with interest thereon) as
described above on the date that is the first day of the seventh month following Employee’s separation from service. In the event that any payments or benefits that Aramark would otherwise be required to provide under this Agreement cannot be
provided in the manner contemplated herein without subjecting Employee to tax under the Deferred Compensation Tax Rules, Aramark shall provide such intended payments or benefits to Employee in an alternative manner that conveys an equivalent
economic benefit to Employee as soon as practicable as may otherwise be permitted under the Deferred Compensation Tax Rules. Without limiting the generality of the foregoing, Employee may notify Aramark if he believes that any provision of this
Agreement (or of any award of compensation including equity compensation or benefits) would cause Employee to incur any additional tax under Section 409A and, if Aramark concurs with such belief after good faith review or Aramark independently
makes such determination, Aramark shall, after consulting with Employee, use reasonable best efforts to reform such provision to comply with Section 409A through good faith modifications to the minimum extent reasonably appropriate to conform
the Deferred Compensation Tax Rules; provided that neither Aramark nor any of its employees or representatives shall have any liability to Employee with respect thereto. For purposes of the Deferred Compensation Tax Rules, each payment made
under this Agreement (including, without limitation, each installment payment due under Article 6.A and Exhibit B, as applicable) shall be designated as a “separate payment” within the meaning of the Deferred Compensation Tax Rules, and
references herein to Employee’s “termination of employment” shall refer to Employee’s separation from service with Aramark and its affiliates within the meaning of the Deferred Compensation Tax Rules. 

D.    In the event of a Change of Control as defined in the attached Exhibit B, the provisions of Exhibit B shall apply to
Employee. Further, pursuant to the Deferred Compensation Tax Rules, Aramark, in its discretion, is permitted to accelerate the time and form 

  
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of payments provided under the deferred compensation arrangement set forth in this Agreement (including Exhibit B), where the right to the payment arises due to a termination of the arrangement
within the 30 days preceding or the 12 months following a change in control event (as defined in the Deferred Compensation Tax Rules). 

E.    If Employee’s employment with Aramark terminates solely by reason of a transfer of stock or assets of, or a
merger or other disposition of, a subsidiary of Aramark (whether direct or indirect), such termination shall not be deemed a termination of employment by Aramark for purposes of this Agreement, provided that Aramark requires the subsequent employer,
by agreement, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that Aramark would be required to perform it if no such transaction had taken place. In such case, Employee acknowledges and agrees that
Aramark may assign this Agreement and Aramark’s rights hereunder, and particularly Articles 1, 2, 3 and 4, in its sole discretion and without advance approval by Employee. In such case, Employee agrees that Aramark may assign this Agreement and
all references to “Aramark” contained in this Agreement shall thereafter be deemed to refer to the subsequent employer. 

F.    Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by
seeking other employment or otherwise. 
 G.    This Agreement shall supersede and substitute for any previous
post-employment or severance agreement between Employee and Aramark. 
 H.    In the event any one or more of the
provisions of this Agreement shall be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby. 

I.    The terms of this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania, without regard to
conflicts of laws principles thereof. For purposes of any action or proceeding, Employee irrevocably submits to the non-exclusive jurisdiction of the courts of Pennsylvania and the courts of the United States
of America located in Pennsylvania for the purpose of any judicial proceeding arising out of or relating to this Agreement, and acknowledges that the designated fora have a reasonable relation to the Agreement and to the parties’
relationship with one another. Notwithstanding the provisions of this Article 8.I, Aramark may, in its discretion, bring an action or special proceeding in any court of competent jurisdiction for the purpose of seeking temporary or preliminary
relief pending resolution of a dispute. 
 J.    Employee expressly consents to the application of Article 8.I to any
judicial action or proceeding arising out of or relating to this Agreement. Aramark shall have the right to serve legal process upon Employee in any manner permitted by law, with a copy to Employee’s most recent email on file with Aramark,
which upon such emailing shall be deemed effective service of legal process. In addition, Employee irrevocably appoints the Executive Vice President, Human Resources of Aramark (or any successor) as Employee’s agent for service of legal process
in connection with any such action or proceeding and Employee agrees that service of legal process upon such agent, who shall promptly advise Employee of any such service of legal process at the address of Employee then in the records of Aramark,
shall be deemed in every respect effective service of legal process upon Employee in any such action or proceeding. 

  
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 K.    Employee hereby waives, to the fullest extent permitted by
applicable law, any objection that Employee now or hereafter may have to personal jurisdiction or to the laying of venue of any action or proceeding brought in any court referenced in Article 8.I and hereby agrees not to plead or claim the same.

 L.    Notwithstanding any other provision of this Agreement, Aramark may, to the extent required by law, withhold
applicable federal, state and local income and other taxes from any payments due to Employee hereunder. 

M.    Employee and Aramark acknowledge that for purposes of Article 6, Employee’s last hire date with Aramark is
January 7, 2020 (the “Hire Date”). 
 N.    Employee expressly acknowledges and agrees that the
Incentive Compensation Recoupment Policy set forth in Exhibit A to this Agreement, as the same may be amended from time to time, is binding on Employee and that Employee is a Covered Employee as defined in that policy. 

O.    This Agreement shall be binding upon, inure to the benefit of and be enforceable by Aramark and Employee, and their
respective heirs, legal representatives, successors and assigns. Employee acknowledges and agrees that this Agreement, including its provisions on post-employment restrictions, is specifically assignable by Aramark. Employee hereby consents to such
future assignment and agrees not to challenge the validity of such future assignment. 

  
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 IN WITNESS WHEREOF, and intending to be legally bound, the parties hereto have caused this
Agreement to be signed this 5th day of January, 2020. 
  

	
	 /s/ Thomas Ondrof    

	Thomas Ondrof    

  

	
	ARAMARK
	
	 /s/ Lynn B. McKee    

	 By: Lynn B. McKee
 Title: Executive Vice
President, Human Resources

  
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 Schedule 1 

Prior Works 

  
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 Exhibit A 

Aramark 
 Incentive
Compensation Recoupment Policy 
 Overview 

Aramark (the “Company”) has adopted this incentive compensation recoupment policy (the “Policy”) in order to ensure that
incentive compensation is paid based on accurate financial data and to enable the Company to seek recoupment of incentive compensation in the event of material and willful violations of law that cause significant reputational or economic harm to the
Company. In the event of an accounting restatement as described below the Company may seek recovery of incentive compensation that would have not been paid if the correct performance data had been used to determine the amount payable. In the event a
Covered Employee (as defined below) commits a willful and material violation of applicable law and such violation results in significant reputational or economic harm to the Company, the Company may seek recovery of incentive compensation from such
Covered Employee. The Board of Directors (the “Board”) and the Compensation and Human Resources Committee of the Board (the “Committee”) shall have full authority to interpret and enforce the Policy. 

Covered Employees 
 The Policy applies to
“Covered Employees” who are: the executive officers of the Company and its subsidiaries (as defined under Rule 3b-7 under the Securities Exchange Act of 1934, as amended) and all other executives in
the Company’s Executive Leadership Council. 
 Incentive Compensation 

For purposes of this Policy, “incentive compensation” means cash performance bonuses and incentive stock awards including performance
restricted stock and performance stock units paid, granted, vested or accrued under any Company plan or agreement in the form of cash or Company common stock whose payment or vesting is based on the achievement of one or more financial metrics. 

Accounting Restatement; Calculation of Overpayment 

If the Board or the Committee determines that (i) incentive compensation of a Covered Employee was overpaid, in whole or in part, as a
result of a restatement of the reported financial or operating results of the Company due to material non-compliance with financial reporting requirements under the securities laws (unless due to a change in
accounting policy or applicable law) and (ii) such Covered Employee has engaged in misconduct that causes or contributed, directly or indirectly, to the non-compliance that resulted in the obligation to
restate the Company’s reported financial or operating results, the Board or the Committee will determine, in its discretion, whether the Company shall, to the extent permitted by applicable law, seek to recover or cancel the incentive
compensation granted, paid to, issued or vested in excess of the incentive compensation that would have been paid or granted to such Covered Employee or the incentive compensation in which such Covered Employee would have vested had the actual
payment, granting or vesting been calculated based on the accurate data or restated results, as applicable (the “Overpayment”). 

  
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 If the Board or the Committee determines that a Covered Employee engaged in misconduct
resulting in a material and willful violation of law that causes significant reputational or economic harm to the Company, the Board or the Committee may determine, in its discretion, whether the Company shall, to the extent permitted by applicable
law, seek to recover or cancel any incentive compensation granted, paid to or issued or vested to such Covered Employee. 
 Forms of Recovery 

If the Board or the Committee determines to seek recovery for the Overpayment or due to a material and willful violation of law, the Company
shall have the right to demand that the Covered Employee reimburse the Company for the Overpayment or the amount of incentive compensation that the Board or Committee determines is appropriate. The Board or the Committee shall have the discretion to
determine the form, amount and timing of any repayment. To the extent the Covered Employee does not make reimbursement of the Overpayment or amount sought to be recovered by the Company, the Company shall have the right to enforce the repayment
through the reduction or cancellation of outstanding and future incentive compensation and shall also have the right to sue for repayment. To the extent any shares have been issued under vested awards or such shares have been sold by the Covered
Employee, the Company shall have the right to cancel any other outstanding stock-based awards with a value equivalent to the Overpayment or amount sought to be recovered, as determined by the Board or the Committee. 

Time Period for Overpayment Review 
 The
Board or the Committee may make determinations of whether the Company shall seek recovery or cancellation of the Overpayment at any time through the end of the third fiscal year following the year for which the inaccurate performance criteria were
measured; provided, that if steps have been taken within such period to restate the Company’s financial or operating results, the time period shall be extended until such restatement is completed. For illustrative purposes only, this means that
if incentive compensation is paid in late calendar 2015 for performance metrics based on fiscal year 2015 performance, the compensation shall be subject to review for Overpayment until the end of the 2018 fiscal year. Notwithstanding the above, if
the Board or the Committee determines that any Covered Employee engaged in fraud or misconduct, the Board or the Committee shall be entitled to seek recovery or cancellation of the Overpayment with respect to such Covered Employee for a period of
six years after the act of fraud or misconduct, as such time period is calculated by the Board or Committee. In the case of material and willful violations of law, the Board and the Committee may seek recovery of any incentive compensation paid
within three years prior to the Company’s demand for recoupment. 
 No Additional Payments 

In no event shall the Company be required to award Covered Employees an additional payment if the restated or accurate financial results would
have resulted in a higher incentive compensation payment. 

  
 -14- 

 Applicability  

This Policy applies to all incentive compensation, granted, paid or credited after November 6, 2018, except to the extent prohibited by
applicable law or any other legal obligation of the Company. Application of the Policy does not preclude the Company from taking any other action to enforce a Covered Employee’s obligations to the Company, including termination of employment or
institution of civil or criminal proceedings or any other remedies that may be available to the Company, including such remedies contained, without limitation, in the Company’s equity grant and employment agreements, whether or not there is a
restatement. 
 Committee Determination Final 

Any determination by the Board or the Committee (or by any officer of the Company to whom enforcement authority has been delegated) with
respect to this Policy shall be final, conclusive and binding on all interested parties. 
 Other Laws 

The Policy is in addition to (and not in lieu of) any right of repayment, forfeiture or right of offset against any Covered Employee that is
required pursuant to any statutory repayment requirement implemented at any time prior to or following the adoption of the Policy. This policy is in addition to, and is not a substitute for, the requirements of Section 304 of the Sarbanes-Oxley
Act of 2002. 
 Amendment; Termination  

The Board or the Committee may amend or terminate this Policy at any time. 

Adopted on November 6, 2018 

  
 -15- 

 EXHIBIT B 

TERMINATION PROTECTION PROVISIONS 

This is an Exhibit B to, and forms a part of, the Aramark Agreement Relating to Employment and Post-Employment Competition between Thomas
Ondrof (the “Executive”) and Aramark. 
 1.    Defined Terms. 

Unless otherwise indicated, capitalized terms used in this Exhibit which are defined in Schedule A shall have the meanings set forth in
Schedule A. 
 2.    Effective Date; Term. 

This Exhibit shall be effective as of the date on which the agreement referenced above, of which this Exhibit forms a part, shall be effective
(the “Effective Date) and shall remain in effect until the later of three years following a Change of Control and the date that all of the Company’s obligations under this Exhibit have been satisfied in full. 

3.    Change of Control Benefits. 

If Executive’s employment with the Company is terminated at any time within the two years following a Change of Control by the Company
without Cause, by Executive for Good Reason or, in the case of Section 3(b) of this Exhibit only, by Executive for any reason after the first anniversary of Executive’s Hire Date (the effective date of any such termination hereafter
referred to as the “Termination Date”), Executive shall be entitled to the payments and benefits provided hereafter in this Section 3 and as set forth in this Exhibit. If Executive’s employment by the Company is terminated prior
to a Change of Control by the Company (i) at the request of a party (other than the Company) involved in the Change of Control or (ii) otherwise in connection with or in anticipation of a Change of Control that subsequently occurs,
Executive shall be entitled to the benefits provided hereafter in this Section 3 and as set forth in this Exhibit, and Executive’s Termination Date shall be deemed to have occurred immediately following the Change of Control. Payment of
benefits under this Exhibit shall be in lieu of any benefits payable under the Aramark Agreement relating to Employment and Post-Employment Competition of which this Exhibit is a part, except as provided in Section 3(b) hereof. Notice of
termination without Cause or for Good Reason shall be given in accordance with Section 13, and shall indicate the specific termination provision hereunder relied upon, the relevant facts and circumstances and the Termination Date. 

a.    Severance Payments. The Company shall pay Executive cash benefits equal to: 

(1)    two times Executive’s Base Salary in effect on the date of the Change of Control or the Termination Date,
whichever is higher; provided, that if any reduction of the Base Salary has occurred, then the Base Salary on either date shall be as in effect immediately prior to such reduction, payable in regular installments at such times as would
otherwise be the Company’s usual payroll practice over a period of two years; and 

  
 -16- 

 (2)    the higher of: (A) two times Executive’s Target Bonus
in effect on the date of the Change of Control or the Termination Date, whichever is greater; or (B) two times Executive’s most recent actual annual bonus, payable in either case ratably in regular installments at the same time as payments
are made to Executive under Section 3(a)(1) above; provided, that if any reduction of the Target Bonus has occurred, then the Target Bonus on either date shall be as in effect immediately prior to such reduction; and 

(3)    Executive’s Target Bonus (as determined in (2), above) multiplied by a fraction, the numerator of which shall
equal the number of days Executive was employed by the Company in the Company fiscal year in which the Termination Date occurs and the denominator of which shall equal 365, payable as a cash lump sum within forty days after the Termination Date.

 b.    Continuation of Benefits. Executive shall be provided with such benefits as described in Article 6.A.2.a
of the Agreement, subject to Section 6.D of the Agreement. 
 c.    Payment of Earned But Unpaid Amounts.
Within forty days after the Termination Date, the Company shall pay Executive the Base Salary through the Termination Date, any Bonus earned but unpaid as of the Termination Date for any previously completed fiscal year of the Company, to the
extent not previously deferred under a particular deferred compensation plan, and reimbursement for any unreimbursed expenses properly incurred by Executive in accordance with Company policies prior to the Termination Date. Executive shall also
receive such employee benefits, if any, to which Executive may be entitled from time to time under the employee benefit or fringe benefit plans, policies or programs of the Company, other than any Company severance policy (payments and benefits in
this subsection (c), the “Accrued Benefits”). 
 d.    Outplacement Counseling. For the two-year period following the Termination Date (or, if earlier, the date Executive first obtains full-time employment after the Termination Date), the Company shall reimburse all reasonable expenses incurred by
Executive for professional outplacement services by qualified consultants selected by Executive, in an amount not to exceed 20% of the Executive’s Base Salary in effect on the date of the Change of Control or the Termination Date, whichever is
higher. All such reimbursement payments shall be made prior to the last day of the second calendar year following the calendar year in which the Termination Date occurs. 

e.    Vesting of Other Benefits. Executive shall be entitled to such accelerated vesting of outstanding
equity-based awards or retirement plan benefits as is specified under the terms of the applicable plans, agreements and arrangements. 

4.    Mitigation. 

Executive shall not be required to mitigate damages or the amount of any payment provided for under this Exhibit by seeking other employment
or otherwise, and, subject to Section 3(b), compensation earned from such employment or otherwise shall not reduce the amounts otherwise payable under this Exhibit. No amounts payable under this Exhibit shall be subject to reduction or offset
in respect of any claims which the Company (or any other person or entity) may have against Executive. 

  
 -17- 

 5.    Excise Tax Consequences. 

a.    In the event it shall be determined that any payment, benefit or distribution (or combination thereof) by the
Company, any of its affiliates, or one or more trusts established by the Company for the benefit of its employees, to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Exhibit, or
otherwise) (a “Payment”) is subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and
penalties, hereinafter collectively referred to as the “Excise Tax”), if the net after-tax amount of such Payments, after Executive has paid all taxes due thereon (including, without limitation,
taxes due under Section 4999 of the Code) is less than the net after-tax amount of all such Payments and benefits otherwise due to Executive in the aggregate, if such aggregate Payments were reduced to an
amount equal to 2.99 times the Executive’s “base amount” (as defined in Section 280G(b)(3) of the Code), then the aggregate amount of the payments and benefits shall be reduced to an amount that will equal 2.99 times the
Executive’s base amount. To the extent such aggregate parachute payment amounts are required to be so reduced, the parachute payment amounts due to the Executive (but no non-parachute payment amounts)
shall be reduced in the following order: (i) payments and benefits due under Section 3.a of this Exhibit shall be reduced (if necessary, to zero) with amounts that are payable last reduced first; (ii) payments and benefits due in
respect of any equity fully valued (without regard to any discounts for present value) for purposes of the calculation to be made under Section 280G of the Code for purposes of this Section 5 (the “280G Calculation”) in reverse
order of when payable; and (iii) payments and benefits due in respect of any options or stock appreciation rights with regard to Holdings equity securities valued under the 280G Calculation based on time of vesting shall be reduced in an order
that is most beneficial to the Executive. 
 b.    All determinations required to be made under this Section 5,
including whether and when a cutback is to be made, and the assumptions to be utilized in arriving at such determination, shall be made by such nationally recognized certified public accounting firm as may be designated by the Company (the
“Accounting Firm”) which shall provide detailed supporting calculations both to the Company and Executive within ten business days of the receipt of notice from Executive that there has been a Payment, or such earlier time as is requested
by the Company. 
 c.    Notwithstanding anything contained in this Agreement or any other agreement between the
Executive and the Company or any of its subsidiaries to the contrary, the Executive and the Company shall in good faith attempt to agree on steps to ensure that no payments to which the Executive would otherwise be entitled to receive pursuant to
this Agreement or any such other agreement will be “parachute payments” (as defined in Section 280G(b)(2) of the Code). 

  
 -18- 

 6.    Termination for Cause. 

Nothing in this Exhibit shall be construed to prevent the Company from terminating Executive’s employment for Cause. If Executive is
terminated for Cause, the Company shall have no obligation to make any payments under this Exhibit, except for the Accrued Benefits. 

7.    Indemnification; Director’s and Officer’s Liability Insurance. 

Executive shall, after the Termination Date, retain all rights to indemnification under applicable law, any agreements, or under the
Company’s Certificate of Incorporation or By-Laws, as they may be amended or restated from time to time. In addition, the Company shall maintain Director’s and Officer’s liability insurance on
behalf of Executive, at the level in effect immediately prior to the Termination Date, for the three year period following the Termination Date, and throughout the period of any applicable statute of limitations. 

8.    Executive Covenants. 

This is an Exhibit B to, and forms a part of, the Aramark Agreement Relating to Employment and Post-Employment Competition between Executive
and Aramark (the “Agreement). This Exhibit shall not diminish in any way Executive’s rights under the terms of such Agreement, except that Executive’s receipt of benefits under this Exhibit is contingent upon Executive’s
compliance in all material respects with all of the terms and conditions of the Agreement. 
 9.    Costs of
Proceedings. 
 Each party shall pay its own costs and expenses in connection with any legal proceeding (including arbitration),
relating to the interpretation or enforcement of any provision of this Exhibit, except that the Company shall pay such costs and expenses, including attorneys’ fees and disbursements, of Executive if Executive prevails on a substantial portion
of the claims in such proceeding. 
 10.    Assignment. 

Except as otherwise provided herein, this Exhibit shall be binding upon, inure to the benefit of and be enforceable by the Company and
Executive and their respective heirs, legal representatives, successors and assigns. If the Company shall be merged into or consolidated with another entity, the provisions of this Exhibit shall be binding upon and inure to the benefit of the entity
surviving such merger or resulting from such consolidation. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company,
by agreement, expressly to assume and agree to perform this Exhibit in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. The provisions of this Section 10 shall
continue to apply to each subsequent employer of Executive hereunder in the event of any subsequent merger, consolidation or transfer of assets of such subsequent employer. 

  
 -19- 

 11.    Withholding. 

Notwithstanding any other provision of this Exhibit, the Company may, to the extent required by law, withhold applicable federal, state and
local income and other taxes from any payments due to Executive hereunder. 
 12.    Applicable Law. 

This Exhibit shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without regard to conflicts
of laws principles thereof. 
 13.    Notice. 

For the purpose of this Exhibit, any notice and all other communication provided for in this Exhibit shall be in writing and shall be deemed
to have been duly given when delivered by hand or overnight courier or three days after it has been mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set forth below, or to such
other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt. 

If to the Company: 
 Aramark 

2400 Market Street 
 Philadelphia,
Pennsylvania 19103 
 Attention: General Counsel 

If to Executive: 
 To the most
recent address of Executive set forth in the personnel records of the Company. 
 14.    Entire Agreement;
Modification. 
 This Exhibit constitutes the entire agreement between the parties and, except as expressly provided herein or in
Article 6.E of the Agreement or in any benefit plan of the Company or of any of its affiliates, supersedes all other prior agreements expressly concerning the effect of a Change of Control occurring after the date of this Agreement with respect to
the relationship between the Company and Executive. This Exhibit is not, and nothing herein shall be deemed to create, a contract of employment between the Company and Executive. This Exhibit may be changed only by a written agreement executed by
the Company and Executive. 
 15.    Severability. 

In the event any one or more of the provisions of this Exhibit shall be or become invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions shall not be affected thereby. 

  
 -20- 

 Schedule A 

CERTAIN DEFINITIONS 
 As
used in this Exhibit B, and unless the context requires a different meaning, the following terms, when capitalized, have the meaning indicated: 

1.    “Act” means the Securities Exchange Act of 1934, as amended. 

2.    “Affiliate” shall have the meaning set forth in the Company Amended and Restated 2013 Stock
Incentive Plan, as the same may be amended from time to time. 
 3.    “Base Salary” means
Executive’s annual rate of base salary in effect on the date in question. 
 4.    “Bonus” means
the amount payable to Executive under the Company’s applicable annual bonus plan with respect to a fiscal year of the Company. 

5.    “Cause” means “cause” as defined in the Agreement of which this Schedule A forms a part.

 6.    “Change of Control” means the first to occur of any of the following: 

(i)    The acquisition by any individual entity or group, within the meaning of Section 13(d)(3) or 14(d)(2) of the
Exchange Act, other than the Investor Groups and their Affiliates (the “Permitted Holders”), directly or indirectly, of beneficial ownership of equity securities of the Company representing more than 50% of the voting power of the
then-outstanding equity securities of the Company entitled to vote generally in the election of directors (the “Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following
shall not constitute a Change of Control: (A) any acquisition by the Company or any Sponsor Stockholder, (B) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary, or
(C) any acquisition by any Person pursuant to a transaction which complies with clauses (A) and (B) of subsection (ii) below; or 

(ii)    The consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially
all of the assets of the Company or the purchase of assets or stock of another entity (a “Business Combination”), in each case, unless immediately following such Business Combination, (A) all or substantially all of the
beneficial owners of the Company Voting Securities immediately prior to such Business Combination beneficially own more than 50% of the then-outstanding combined voting power of the then-outstanding securities entitled to vote generally in the
election of directors of the entity resulting from such Business Combination in substantially the same proportion (relative to each other) as their ownership immediately prior to such Business Combination of the Company Voting Securities, and
(B) no Person (excluding the Permitted Holders) beneficially owns, directly or indirectly, more than a majority of the combined voting power of the then-outstanding voting securities of such entity except to the extent that such ownership of
the Company existed prior to the Business Combination; or 

  
 -21- 

 (iii)    A majority of the members of the Company’s Board of
Directors are replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the current members of the Company’s Board of Directors before such
replacement. 
 Notwithstanding paragraphs (i) through (iii) above, in no event will a Change of Control be deemed to occur if the
Permitted Holders maintain a direct or indirect Controlling Interest in the Company. A “Controlling Interest” in an entity shall mean beneficial ownership of more than 50% of the voting power of the outstanding equity securities of
the entity. 
 7.    “Code” means the Internal Revenue Code of 1986, as amended. 

8.    “Company” means Aramark or any of its parents and any successor or successors thereto. 

9.    “Good Reason” means any of the following actions on or after a Change of Control, without
Executive’s express prior written approval, other than due to Executive’s Permanent Disability or death: 

(a)    any decrease in Base Salary or Target Bonus; 

(b)    any decrease in Executive’s pension benefit opportunities or any material diminution in the aggregate
employee benefits, in each case, afforded to the Executive immediately prior to the Change of Control, but not including any such decrease or diminution that is inadvertent and that is cured within 30 days following written notice of such decrease
or diminution by Executive to the Company; 
 (c)    any diminution in Executive’s title or reporting
relationship, or substantial diminution in duties or responsibilities (other than solely as a result of a Change of Control in which the Company immediately thereafter is no longer publicly held); or 

(d)    any relocation of Executive’s principal place of business of 35 miles or more, other than normal travel
consistent with past practice. 
 Executive shall have twelve months from the time Executive first becomes aware of the existence of Good
Reason to resign for Good Reason. 
 The Executive must provide notice to the Company of the existence of the condition described above within a period not
to exceed 90 days of the initial existence of the condition, upon the notice of which the Company shall have a period of 30 days during which it may remedy the condition and not be required to pay the amount. 

10.    “Permanent Disability” means “permanent disability” as defined in the Company’s
long-term disability plan as in effect from time to time, or if there shall be no plan, the inability of Executive to perform in all material respects Executive’s duties and responsibilities to the Company or any affiliate for a period of six
(6) consecutive months or for an aggregate of nine (9) months in any twenty-four (24) consecutive month period by reason of a physical or mental incapacity. 

  
 -22- 

 11.     “Target Bonus” means the target Bonus
established for Executive in respect of any given year, whether expressed as a percentage of Base Salary or a dollar amount. 

  
 -23-Exhibit 10.1

      

       

      

       
        HORIZON BANK

          

          

          CHANGE IN CONTROL AGREEMENT

        This Change in Control Agreement (“Agreement”),
          dated and effective as of January 1, 2020 (the “Effective Date”), is entered into between Horizon Bank (“Bank”), an
          Indiana state bank, and Craig M. Dwight (“Employee”),
          a resident of the State of Indiana.

        WITNESSETH:

        Whereas, Bank is a subsidiary of Horizon Bancorp, Inc. (“Holding Company”), a corporation formed under the laws of the State of Indiana;

        Whereas, Executive currently serves as an employee of the Bank, either
          as an employee-at-will or pursuant to a written employment agreement;

        Whereas, the Board of Directors of the Bank (“Board”) has determined that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or
          occurrence of a Change in Control (as defined herein) of the Bank or the Holding Company; and

        Whereas, the Board believes that it is in the best interests of the
          Bank and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize
          and encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control.

        Now, Therefore, in consideration of the mutual promises herein
          contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

        Section 1.          Term.

        The term of this Agreement shall begin on the Effective Date and, except as otherwise expressly provided herein, automatically terminate
          immediately upon the termination of Employee’s employment, for any reason, prior to a Change in Control. In the event Employee is still employed by Bank at the time of a Change in Control, then the term shall continue for one (1) year following
          consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 8 – 24 of this Agreement shall survive any termination of the Term, as provided in Section 12 of this Agreement.

        Section 2.          At-Will Employment.

        Unless Employee is a party to a separate written employment agreement with Bank or Holding Company, nothing in this Agreement shall be
          deemed to entitle Employee to continued employment with Bank or any affiliated companies. Employee acknowledges that unless Employee is subject to a separate written employment agreement that provides otherwise, Employee is an at-will employee,
          meaning that either Employee or Bank can terminate the employment relationship at any time, with or without Cause (as defined herein), and that this Agreement shall not change or affect Employee’s at-will status. If Employee’s employment with
          Bank terminates prior to a Change in Control, Employee shall have no further rights under this Agreement, except as otherwise provided herein.

        
          
            

        

        
        Section 3.          Change in Control.

        (a) Definition.  
          For purposes of this Agreement, a “Change in Control” shall be deemed to have occurred if the conditions or
          events set forth in any one or more of the following subsections occur:

        (i)          Any merger,
            consolidation or similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the
            surviving or combined entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis;

        (ii)          Any sale, lease,
            exchange, transfer or other disposition of all or substantially all of the consolidated assets of Bank or Holding Company;

        (iii)          Any tender,
            exchange, sale or other disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding
            Company or any Holding Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank;
            or

        (iv)          During any period
            of two consecutive years, individuals who at the date of this Agreement constitute the board of directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning
            of the period has been approved by directors representing at least a majority of the directors then in office.

        (b) Exceptions.  
          Notwithstanding the provisions of Section 3(a), a Change in Control shall not be deemed to have occurred:

        (i)          As a result of the
            issuance of stock by the Holding Company in connection with any public offering of its stock;

        (ii)          With respect to
            stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part of the Horizon Bancorp Employees’ Stock Ownership Plan), the Horizon Bancorp Employee’s Thrift Plan Trust (which forms a part of the Horizon Bancorp
            Employee’s Thrift Plan), or any other employee benefit plan; or

        (iii)          With
              respect to any payment or benefit provided under the Agreement to which Section 409A of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a “change in control” for purposes of Section 409A.

        
          2

          
            

          

        

        

        

        Section 4.          Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination.

        (a)  Termination Period.  In connection with a Change in Control, Employee will be entitled to the severance benefits set forth in
          this Section 4 if during the six (6) month period prior to a Change in Control or during the one (1) year period following consummation of a Change in Control, either of the following two qualifying terminations occurs: (i) Bank terminates
          Employee’s employment for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 6; (each of the terminations described in (i) and (ii)
          hereof shall be referred to as a “Qualifying Termination”).

        (b)          Conditions to
                  Receipt of Severance Benefits.  Employee’s entitlement to the severance payments set forth in this Section 4 shall be contingent upon Employee’s execution (and non-revocation) of a release of claims relating to Employee’s
              employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and provided by, Bank (the “Release”). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee’s Qualifying Termination or Change in Control, as applicable, and the Release must
              remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition, Employee must be and remain in
              compliance with the provisions of Sections 8 – 10 of this Agreement.

        (c)  Severance Benefits Provided.  Upon a Qualifying Termination and subject to Employee’s compliance with Sections 8 - 10 hereof
          and Employee’s timely execution and delivery of the Release, Bank will pay or provide to Employee the following amounts and benefits:

        (i)          That portion of
            Employee’s base salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee’s return of the executed Release and the lapse of all applicable
            revocation periods, or as soon as administratively practicable thereafter;

        (ii)          A
              lump sum amount equal to 2.99 times Employee’s annual base salary in effect as of the date immediately preceding the date of termination plus a
              single sum payment equal to the average of the Employee’s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of 2.99, all payable as of the date of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;

        (iii)          Continued
              participation in the group health insurance and group life insurance benefits which Employee was eligible to participate in or receive on the day prior to the date of termination (“Insurance

              Programs”), beginning on the date of termination and continuing for a period of thirty-five (35) months (“Benefit Continuation Term”), but only to the extent Employee continues to qualify for participation therein and takes all actions required in connection with such
              participation (including participation through Employee’s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit Continuation Term,
              Bank will reimburse Employee for the cost of health insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of

        
          3

          
            

          

        

        

        

        payment for such benefits; provided, however, the amount of these benefits
          will be limited to an amount equal to 110% of Bank’s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 4(c)(iii) no later than the end of the
          second calendar year following the Qualifying Termination;

        (iv)          All amounts that
            have vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the Holding Company or Bank in
            accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is
            for Employee to receive all amounts attributable to Employee’s participation in such plans, as now or hereafter existing, up to and including the date of termination, regardless of whether the amounts are historically deposited or credited to
            individual employee accounts or subject to Board of Director approval on a date beyond the date of termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the date of termination if not
            capable of being calculated, paid, deposited or credited prior to the date of termination;

        (v)          An amount equal to
            the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial
            results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;

        (vi)          Notwithstanding the
            foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted
            shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and Employee.

        (d)  Suspension and Termination of Severance Benefits.

        (i)          If
              Employee is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the
              parties shall not be affected.

        (ii)          If the Bank is in
            default (as defined in Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties.

        (iii)          All
              obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial
              Institutions (the “DFI”) or its designee, or the Bank’s primary federal regulator at the time

        
          4

          
            

          

        

        

        

        that the Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement
          to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank’s primary federal regulator, at the time that the DFI, or its designee, or the Bank’s
          primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank’s primary federal regulator, to be in an unsafe or unsound condition. Any
          such action shall not affect any vested rights of the parties.

        (iv)          If a notice served
            under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Employee from participating in the conduct of the Bank’s affairs, Bank’s and Holding Company’s obligations under this Agreement
            shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract
            obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.

        (v)          Notwithstanding
            anything to the contrary contained herein, Employee acknowledges and agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and
            Part 359 of the FDIC’s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making “golden parachute” and certain indemnification payments by FDIC-insured institutions and their holding companies.
            In the event any payments to Employee pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such
            limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees
            that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations.

        (e)          Effect of Section 409A of the
                Internal Revenue Code.

        (i)          To the
              extent a Change in Control qualifies as a “change in control” for purposes of Section 409A of the Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by
              Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all Treasury Regulations and guidance promulgated thereunder (“Section 409A”). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall Bank, Holding Company, any Affiliates, and/or their
              respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for failing to comply with Section 409A.

        (ii)          Notwithstanding any
            other provision of this Agreement to the contrary, if at the time of Employee’s separation from service (as defined in Section 409A) Employee is a “Specified Employee” within the meaning and in accordance with Treasury Regulation Section

        
          5

          
            

          

        

        

        

        1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to
          Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest
          other date as is permitted under Section 409A. Any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if
          applicable.

        Section 5.          Termination for Cause.

        (a)  Definition of “Cause”.  For purposes of this Agreement, “Cause” is defined as any of
          the following actions:

        (i)          An
              intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by Employee in the course of Employee’s employment; provided, however, that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or
              failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or Holding Company;

        (ii)          Intentional damage
            by Employee to the business or property of Bank or Holding Company, causing material harm to Bank or Holding Company;

        (iii)          Material breach by
            Employee of any provision of this Agreement or any employment agreement the Employee is a party to;

        (iv)          Gross negligence or
            insubordination by Employee in the performance of Employee’s duties, or the Employee’s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; or

        (v)          Removal or permanent
            prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12 USC §§ 1818(e)(4) and (g)(1).

        (b)  Procedure for a Termination for Cause.  Bank, upon written notice to Employee, may terminate Employee’s employment for Cause,
          which will terminate Employee’s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (i) indicate the specific provisions of this
          Agreement relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the Board of Directors of Bank has determined in good faith that the
          issue is curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to correct or cure the basis for such termination. If (but only if) the
          basis for termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of Employee’s employment. If
          Employee does not fully correct and cure the basis for the termination of Employee’s employment within such 30-day period, then Bank will have the right to terminate Employee’s employment with Bank immediately for Cause upon delivering to
          Employee a second written notice

        
          6

          
            

          

        

        

        

        of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of the
          first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause.

        (c)  Effect on Other Written Agreements.  Bank intends the provisions of this Section 5 relating to a termination for Cause to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control.

        Section 6.          Termination for Good Reason.

        (a)  Definition of “Good Reason”.  For purposes of this Agreement, “Good Reason” is defined
          as the occurrence of any of the following events:

        (i)          The requirement that
            Employee move Employee’s office to a location more than thirty (30) miles from Employee’s principal residence as of the Effective Date;

        (ii)          A reduction in
            Employee’s then-current annual base salary;

        (iii)          The removal of
            Employee from participation in any incentive compensation or performance-based compensation plans without replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the
            value of the lost benefit;

        (iv)          The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive Employee of any such benefit enjoyed by Employee;

        (v)          The assignment to Employee of duties and responsibilities materially different from those normally associated with Employee’s position;

        (vi)          A material diminution or reduction in Employee’s duties, responsibilities or authority (including reporting responsibilities) normally associated with Employee’s position;

        (vii)          Any action by Bank
            to remove Employee from Employee’s then-current officer position or materially change Employee’s title, except for promotions;

        (viii)          A material breach by Bank of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or

        (ix)          To the extent such
            assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control.

        (b)  Procedure for a Termination for Good Reason.  Employee, by written notice to Bank, may terminate Employee’s employment with
          Bank for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety (90) days

        
          7

          
            

          

        

        

        

        immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such
          event; (ii) Bank must fail to cure such event within a period of thirty (30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day
          on which the 30-day period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice.

        (c)  Effect on Other Written Agreements.  Bank intends the provisions of this Section 6 relating to a termination for Good Reason to
          be consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control.

        Section 7.          Terminations for Other Reasons.

        (a)  Termination by Bank without Cause.  Upon thirty (30) days’ written notice to Employee, Bank may terminate Employee’s employment
          without Cause.

        (b)  Termination by Employee without Good Reason.  Employee, upon sixty (60) days’ written notice to Bank, may terminate Employee’s
          employment without Good Reason.

        Section 8.          Non-Disclosure; Return of Confidential Information and Other Property.

        (a)  Access to Confidential Information.  Employee understands, acknowledges and agrees that during the course of Employee’s
          employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee,
          Bank or any Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily
          ascertainable by proper means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential
          Information. For purposes of this Agreement, the term “Affiliate” means Holding Company and all subsidiaries of Holding Company and its subsidiaries.

        (b)  Non-Disclosure.  At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly
          or indirectly disclose, provide or discuss any Confidential Information with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such
          Confidential Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee’s own benefit or for the benefit of any Person other than
          Bank or any Affiliate. Employee agrees that all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates.

        (c)  Confidential Information Defined.  For purposes of this Agreement, the term “Confidential Information” means any and all:

        
          8

          
            

          

        

        

        

        (i)          materials, records,
            data, documents, lists, writings and information (whether in writing, printed, verbal, electronic, computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of
            operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are
            confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that Bank or any Affiliate has deemed confidential, proprietary or nonpublic;

        (ii)          trade secrets of
            Bank or any Affiliate, as defined in Indiana Code Section 24‐2‐3‐2, as amended, or any successor statute; and

        (iii)          any and all
            copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth in (i) or (ii) above.

        (d)  Definition of Person.  For purposes of this Agreement, the term “Person” shall mean any natural person, proprietorship,
          partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.

        (e)  Return of Confidential Information and Other Property.  Employee covenants and agrees:

        (i)          to keep all
            Confidential Information subject to Bank’s or any Affiliate’s custody and control and to promptly return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee’s possession or control at the termination of
            Employee’s employment with Bank; and

        (ii)          promptly upon
            termination of Employee’s employment with Bank, to return to Bank, at Bank’s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing.

        Section 9.          Non-Solicitation of Customers and Employees.

        (a)  Obligations of Employee.  During the Term, and for two (2) years thereafter,
          Employee will not in a competitive capacity (as defined in Section 10), on behalf of any person or entity other than Bank or any Affiliate, directly or indirectly:

        (i)          solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate;

        (ii)          solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding
            Employee’s separation,

        (iii)          solicit, divert
            (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about whom Employee obtained Confidential Information;

        
          9

          
            

          

        

        

        

        (iv)          solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate; or

        (v)          solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one
            year preceding Employee’s separation,

        (vi)          solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate about whom Employee has obtained confidential or proprietary information;

        (vii)          encourage,
            solicit, induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge
            regarding the Bank or any Affiliate that could give a competitor an unfair advantage, or (b) within the preceding two years, has serviced or established goodwill with the Bank’s customers or acquired confidential information about those
            customers, or (c) was someone Employee had worked with, or supervised in Employee’s last two-years of employment (hereafter defined as an “Individual”), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate or
            devote less than full time efforts to Bank’s or an Affiliate’s business; or

        (viii)          hire
              or attempt to hire, for any competitive or other position with any competitor or other business, any Individual  who has been an employee of Bank or any Affiliate at any time within the preceding one year; provided, however, that Employee shall not be deemed to have violated this Section if an employee responds to a general advertisement for employment with the competitor.

        

        

        Section 10.          Non-Competition.

        (a)  During Employment.  During Employee’s employment, Employee shall not, directly or indirectly, have any ownership interest in,
          work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any entity or person which competes with Bank or any of its Affiliates.

        (b)  Following Termination of Employment.  For a period of two (2) years after Employee’s
          separation from Bank for any reason, Employee shall not:

        (i)          in the states of
            Indiana and/or Michigan;

        (ii)          in any Indiana
            county or Michigan county in which Bank maintains a branch or other office;

        (iii)          in any Indiana
            county or Michigan county in which customers of Bank reside or maintain a facility;

        
          10

          
            

          

        

        

        

        (iv)          in the geographic
            area in which Employee has been performing services on behalf of Bank, or for which Employee has been assigned responsibility, at any time within one (1) year preceding Employee’s separation;

        directly or indirectly own, manage, finance, operate, control or participate in ownership, management, or operation of, act as an agent, consultant, or be
          employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further agrees that during that same period, Employee will not assist in the research and development of
          products or services (A) where such research and development would be aided by the Confidential Information learned in the course of Employee’s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate.

        (c)  Definition of “Competitive Capacity”.  For purposes of this Agreement, the term “Competitive
            Capacity” shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to
          those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which Employee utilized any Confidential Information that Employee learned in the course of Employee’s relationship with Bank or
          any Affiliate.

        Section 11.          Periods of Noncompliance and Reasonableness of Periods.

        (a)  Acknowledgment.  Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections
          8, 9 and 10 hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee’s position with Bank and the Affiliates and Employee’s advantageous knowledge of and familiarity with the business,
          operations, affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or
          in any combination.

        (b)  Effect of Employee Breach.  The time periods during which the restrictions and covenants of Sections 8, 9 and 10 are
          applicable will be extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank’s obligation to pay the amounts otherwise payable to Employee pursuant to this Agreement
          shall immediately terminate in the event that Employee breaches any of the provisions of Sections 8, 9 and 10 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 8, 9 and 10 hereof shall continue in full
          force and effect and be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 13 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorney’s
          fees and expenses) resulting from or relating to Employee’s breach of any of the provisions of Sections Section 8, 9 or 10 hereof.

        (c)  Effect of Bank Breach.  Bank and Employee understand, acknowledge and agree that Employee’s entitlement to special severance
          benefits upon a Qualifying Termination following a Change in Control, and the other provisions benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 8, 9 and 10 of this
          Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written

        
          11

          
            

          

        

        

        

        notice of the breach, then Employee’s obligations under Sections 8, 9 and 10 of this Agreement shall be suspended.

        Section 12.          Survival of Certain Provisions.

        Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee’s termination of employment
          with Bank or otherwise, the provisions of Sections 8 - 24 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the case of Bank breach as described
          in Section 11).

        Section 13.          Remedies.

        Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the
          event of any actual, threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10, in addition to
          all other remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of
          Sections 8, 9 or 10. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and
          remedies available to Bank or an Affiliate at law, in equity or otherwise.

        Section 14.          Section 280G.

        Anything in this Agreement to the contrary notwithstanding, in the event Bank’s independent public accountants or counsel determine that
          any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of Section 280G of the Internal Revenue
          Code, the amount payable to or for the benefit of Employee pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section
          14, the “Reduced Amount” shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section 280G. If two economically equivalent amounts are
          subject to reduction but are payable at different times, the amounts shall be reduced (but not below zero) on a pro rata basis.

        Section 15.          Successors and Assigns.

        This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
          corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly
          assume and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank’s and Holding Company’s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
          the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 6 of this Agreement. As used in this Agreement, “Bank” shall
          mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee,

        
          12

          
            

          

        

        

        

        which consent shall not be unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and
          Employee’s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any other person. Employee shall not assign Employee’s interest in this Agreement or any part thereof.

        Section 16.          Consent of Bank.

        Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or
          expressed only by Bank’s President or Chief Executive Officer, or by such other person as the Bank’s Board of Directors may designate.

        Section 17.          Notices.

        All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and
          will be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery service; or (d) sent by facsimile transmission if
          such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows:

        

        

        	 	
                (A)

              	
                If to Employee:

              	
                Craig M. Dwight

              
	 	 	 	
                [redacted for privacy]

              
	 	 	 	 
	 	 	 	 
	 	
                (B)

              	
                If to Bank:

              	
                Horizon Bank

              
	 	 	 	
                515 Franklin Street

              
	 	 	 	
                Michigan City, IN 46360

              
	 	 	 	
                Attn:  Chief Executive Officer

              

        

        

        Section 18.          Governing Law.

        This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and
          to be performed therein.

        Section 19.          Enforcement Expenses.

        If a dispute arises regarding the termination of Employee or as to the interpretation or enforcement of this Agreement and Employee
          obtains a final judgment in Employee’s favor in a court of competent jurisdiction or Employee’s claim is settled by Bank prior to the rendering of a judgment by such a court, all reasonable legal fees and expenses incurred by Employee in
          contesting or disputing any such termination or seeking to obtain or enforce any right or benefit provided for in this Agreement or otherwise pursuing Employee’s claims shall be paid by Bank (except as otherwise decided in any settlement between
          the parties) to the extent permitted by law.

        Section 20.          Superseding Prior Agreements; Entire Agreement.

        The Employee, Bank and Holding Company agree that as long as the provisions of Sections 8, 9 and 10 are in effect, those provisions
          shall supersede and replace any similar restrictions in any other agreement between the parties, including, but not limited to, any employment agreement,

        
          13

          
            

          

        

        

        

        non‐competition or non-solicitation agreement, and any equity award agreement or plan relating thereto. This Agreement sets forth the entire understanding
          of the parties hereto with respect to its subject matter, merges and supersedes all prior and contemporaneous understandings with respect to its subject matter, and may not be waived or modified, in whole or in part, except by a writing signed by
          each of the parties hereto. No waiver of any provision of this Agreement in any instance shall be deemed to be a waiver of the same or any other provision in any other instance.

        Section 21.          Headings.

        The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation or
          construction of this Agreement.

        Section 22.          Severability.

        If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, this Agreement shall be
          interpreted and enforceable as if such provision were severed or limited or such payment reduced, but only to the extent necessary to render such provision and this Agreement enforceable.

        Section 23.          Counterparts.

        This Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which together shall
          constitute one and the same instrument.

        Section 24.          Amendment.

        This Agreement may be amended, modified or supplemented only by a written agreement executed by both of the parties hereto.

        Signature Page Follows

        
          14

          
            

          

        

        

        

        IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of December 31, 2019, to be effective as of the Effective Date.

        

        

        	 	 	
                BANK

              
	 	 	 	 
	 	 	 	 
	 	 	
                By:

              	
                /s/ James D. Neff

              
	 	 	 	
                Printed:  James D. Neff

              
	 	 	 	
                Title:  President

              
	 	 	 	 
	 	 	 	 
	 	 	
                EMPLOYEE

              
	 	 	 	 
	 	 	 	 
	 	 	
                By:

              	
                /s/ Craig M. Dwight

              
	 	 	 	
                Printed:  Craig M. Dwight

              
	 	 	 	
                Title:  Chairman and Chief Executive Officer

              
	 	 	 	 
	 	 	 	 
	
                ATTEST

              	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
                By:

              	
                /s/ Susan D. Aaron

              	 	 
	 	
                Susan D. Aaron

              	 	 
	 	
                Chairperson Compensation Committee of the Board of Directors

              	 	 

        

        

      

    

  

  15

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