Document:

Exhibit 10.21 GABC

Exhibit 10.21

GERMAN AMERICAN BANCORP, INC.
 
Restricted Stock Award Agreement (2014/2015 Additional Retainer)
for ____________________ (“Director”)
December 22, 2014
 
German American Bancorp, Inc. (the "Company") is pleased to grant to you an award pursuant to the resolution of the Company’s Board of Directors adopted as of the date of this document consisting of certain shares of Common Stock of the Company (the "Common Stock") subject to certain restrictions under the Company's 2009 Long Term Equity Incentive Plan (the "Plan") and this Agreement ("Agreement"). This Agreement and the shares granted hereby are subject to the terms and conditions of the Plan, the terms of which are incorporated herein. Any capitalized term that is not defined in this Agreement has the meaning described by the Plan. Please see the Plan document for more information regarding your rights and obligations under this Agreement.
 
Please execute this Agreement by signing both copies. Return one copy within sixty (60) days of its date to Terri Eckerle, Shareholder Relations, German American Bancorp, Inc., 711 Main Street, Box 810, Jasper, Indiana 47546. Retain one copy of the Agreement for yourself along with the enclosed Plan.

1.    Grant of the Award.  The Company hereby grants you, as of the date specified above (the "Grant Date") an Award consisting of Four Hundred Seventeen (417) shares of Common Stock, with an aggregate value as of the Grant Date of approximately Twelve Thousand, Five Hundred Dollars    ($12,500).  We sometimes refer in this Agreement to the shares of Common Stock that are part of the Award (including any other securities distributed in respect of the shares of Common Stock, or in substitution for those shares, by reason of an adjustment provided for in Section 8) as the "Restricted Stock."  This Award is granted to you subject to the terms and conditions specified in this Agreement and the Plan.

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2.    Vesting of the Award.  Subject to earlier forfeiture and cancellation pursuant to the Plan and this Agreement and possible acceleration as provided by Article VIII of the Plan, your rights to retain the Award (including the Restricted Stock) will vest as of 12:01 A.M. Jasper time on the morning of December 5, 2015 ("Vesting Date").  The period prior to the Vesting Date is referred to in this Agreement as the Restricted Period.  The Board of Directors, by the vote (or written consent in lieu thereof) of not fewer than a majority of the members of the Board of Directors then in office (other than you) who are independent directors for purposes of NASDAQ independence rules and who are “non-employee directors” as defined for purposes of the rules of the Securities and Exchange Commission under Section 16 of the Securities Exchange Act of 1934, as amended (the “Section 16 Non-Employee Directors”), shall have the authority, in its sole judgment (which shall be conclusive and binding), to determine whether the conditions to vesting specified by this Agreement and the Plan have been satisfied as of the Vesting Date or any other date.  The Board of Directors by action of the Section 16 Non-Employee Directors may also waive the provisions of Section 5 or otherwise shorten the Restricted Period as to any or all of the Award, and in connection with such actions may cause the Award to vest at an earlier date, whenever the Board of Directors by the above-described vote may determine that such action is appropriate by reason of changes in applicable tax or other laws or accounting principles or interpretations, or by reason of other changes in circumstances occurring after the Grant Date.

3.    Your Rights in Award before Vesting.  Except as otherwise provided in this Agreement, you shall have all the rights of a holder of Common Stock in respect of each of your shares of Restricted Stock that are included in the Award during the Restricted Period, including, but not limited to, the right to receive all cash dividends paid on the Restricted Stock that are declared with a record date on or after the Grant Date and the right to vote the Restricted Stock on all matters to come for a vote by the holders of the Common Stock with a record date on or after the Grant Date.

4.    Non-Certificated Nature of Restricted Stock during the Restricted Period.  The Company has directed its registrar and transfer agent (the "Transfer Agent") to issue the shares of Restricted Stock in your name as of the Grant Date, and to evidence the issuance of such shares of Restricted Stock to you by crediting the number of such shares of Restricted Stock to an account that has been established in your name on the Transfer Agent's books (your "Restricted Stock Account").   During the Restricted Period, the Company shall have no obligation to cause a certificate evidencing any of the shares of Restricted Stock to be prepared or delivered.  Any cash dividends payable in respect of the Restricted Stock during the Restricted Period pursuant to Section 3 shall be paid to you in cash, unless you otherwise direct, in which event such dividends will be paid to such account as you direct.  

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5.    Forfeiture and Cancellation of the Award; Conversion of Award in Certain Cases

		
	(a)
	Continuing Board Service and Meeting Attendance Conditions.  If you should (x) not continue in service to the Company and its subsidiaries or affiliates as a director through December 5, 2014, for any reason other than your death or disability, or (y) for any reason other than disability, fail to attend in person at least seventy-five percent (75%) of the aggregate number of meetings of the Company’s Board of Directors and the other corporate or subsidiary or affiliate boards and committees on which you may be (from time to time) a member during the period commencing on January 1, 2015  through December 5, 2015, or (z) fail to attend (other than by reason of disability or illness or bona fide emergency as determined in the sole discretion of the Company’s lead independent director) the Company's annual meeting of shareholders held in 2015 (each, a “Disqualifying Circumstance”), your Award (including your Restricted Stock and all associated property and rights) shall be forfeited and cancelled in its entirety effective as of the date of the last fact that establishes the existence of the Disqualifying Circumstance (the “Disqualification Date”) (regardless of whether the date on which the Board of Directors makes the determination to that effect after the Disqualification Date). In the event of any forfeiture or cancellation of your Restricted Stock pursuant to this Section 5, your shares of Restricted Stock shall be deemed to have been reacquired by the Company and cancelled effective as of the Disqualification Date, and you therefore shall not have the right to receive any cash dividends or other distributions with respect to the Restricted Stock that are declared with a record date after the Disqualification Date.  The existence or non-existence of a Disqualifying Circumstance (and the date of the associated Disqualification Date) shall, in the event of any uncertainty or dispute, be determined for all purposes under the Plan and this Agreement by the Board of Directors (by vote or consent as provided by Section 2), whose judgment on such matters shall be conclusive and binding.

		
	(b)
	Immediate Vesting Caused by an Extraordinary Event.  If an Extraordinary Event  (as defined by Section 6.06(d) of the Plan) occurs during the Restricted Period, and prior to the date of any forfeiture and cancellation of your Award, then the Vesting Date of your Award shall be deemed to have been accelerated to the date of the Extraordinary Event, and your Award (including the Restricted Stock and the LTI Cash Right) shall be deemed fully non-restricted and non-forfeitable as of such date.

6.    Non-Transferability.  Prior to expiration of the Restricted Period, you may not sell, assign, transfer, pledge or otherwise encumber any of your rights under the Award, including the Restricted Stock. 

7.    Disclaimer of Contract.  Nothing contained in this Agreement shall be construed as an obligation of the Company or any of its Subsidiaries or any other person to retain you as a member of the Board of Directors, or in any other capacity.  

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8.    Adjustments for Changes in Capitalization of the Company. In the event of any change in the outstanding shares of Common Stock during the Restricted Period by reason of any reorganization, recapitalization, stock split, stock dividend, combination or exchange of shares, merger, consolidation, or any change in the corporate structure of the Company or in the shares of Common Stock, the number and class of the shares of your Restricted Stock covered by your Award shall be appropriately adjusted by the Board of Directors, whose determination shall be conclusive. Any shares of Common Stock or other securities distributed during the Restricted Period in respect of your Restricted Stock as a result of any of the foregoing to which you may be determined to be entitled shall be held without interest by the Transfer Agent for your account until the expiration of the Restricted Period, and shall be subject to the forfeiture and other provisions of this Agreement to the same extent and in the same manner as the previously issued shares of Restricted Stock in respect of which they were distributed.

9.    Securities Laws.  The Company's obligation to issue to you, or to deliver to you any stock certificates evidencing, shares of Common Stock hereunder shall, if the Board of Directors so requests, be conditioned upon the Company's receipt of a representation by you as to your investment intention, in such form as the Board of Directors shall determine to be necessary or advisable to comply with the provisions of the Securities Act of 1933, as amended, or any other federal, state or local securities legislation.  The Company shall not be required to deliver any certificates for shares under this Agreement or to issue any shares hereunder prior to (i) the admission of such shares to listing on any stock exchange on which the shares of Common Stock may then be listed, and (ii) the completion of such registration or other qualification of such shares under any state or federal law, rule or regulation, as the Board of Directors shall determine to be necessary or advisable.

10.    Tax and Other Withholding Obligations.  The Company’s obligation to pay or deliver to you the Restricted Stock that constitutes the Award shall be subject to the Company’s compliance with applicable tax withholding and other required withholding or deductions, if any, with respect to the compensation realized by you as a result of having received the Award (including the non-cash compensation income that you may be deemed to realize for income tax purposes upon the lapsing of the restrictions upon the Award) including any deductions that may be required under the Company's employee benefit plans (collectively, the “Withholding”).  The Company may satisfy any such Withholding or other obligation by withholding from the Restricted Stock otherwise deliverable to you such number of shares as would have at such time a fair market value equal to the amount of such obligation.

11.    Agreement.  By signing this Agreement below, you acknowledge that you have received a copy of the Plan, and that you are familiar with the terms and provisions of the Plan and the Agreement, and that you accept their terms.  You also acknowledge your agreement (on behalf of yourself and your estate, including your personal representatives, guardians, executors and heirs) to accept as binding, conclusive, and final all decisions and interpretations of the Company’s Board of Directors (by the vote or consent of such members thereof as is determined in accordance with Section 2 of this Agreement) upon any question arising under the Plan or this Agreement.

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	GERMAN AMERICAN BANCORP, INC.

	 
	 
	 
	 

	 
	 
	By:
	 

	(Director Name)
	 
	 
	Mark A Schroeder, Chairman and CEO

5Exhibit 10.28 GABC

 
EXHIBIT 10.28
SECOND OMNIBUS AMENDMENT TO LOAN DOCUMENTS

 THIS SECOND OMNIBUS AMENDMENT TO LOAN DOCUMENTS (the “Amendment”) is made and entered into effective as of December 30, 2014, by and between [i] STOCK YARDS BANK & TRUST COMPANY, a Kentucky banking corporation having an address of 1040 East Main Street, Louisville, Kentucky 40206 (“Lender”), and [ii] GERMAN AMERICAN BANCORP, INC., an Indiana corporation with an address at 711 Main Street, Jasper, Indiana 47546 (the “Borrower”).

WHEREAS, Borrower and Lender are parties to a certain Loan Agreement dated as of January 25, 2013, as amended by that certain Omnibus Amendment to Loan Documents dated as of December 31, 2013 (collectively, the “Loan Agreement”; certain capitalized terms used in this Amendment have the meanings set forth for them in the Loan Agreement unless expressly otherwise defined in this Amendment) pursuant to which Lender agreed to make the Loan to Borrower (as the term is defined in the Loan Agreement, the “Loan”) in the face principal amount of $10,000,000.00, as evidenced by that certain Promissory note (Revolving Note) dated as of January 25, 2013, as amended by that certain Omnibus Amendment to Loan Documents dated as of December 31, 2013, with a final maturity date of December 30, 2014 (collectively, the “Revolving Note”), subject to and in accordance with the provisions of the Loan Agreement and the other Loan Documents; and
WHEREAS, Lender and Borrower desire to amend certain provisions of the Loan Agreement to extend the maturity date of the Revolving Note, and to make such other modifications to the Loan Documents as are set forth herein.
NOW, THEREFORE, in consideration of the premises and for other valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, and intending to be legally bound, it is hereby agreed as follows:
 
ARTICLE 1
AMENDMENT TO LOAN AGREEMENT
 
1.1    Effective as of the date hereof, Section 1.34 of the Loan Agreement is hereby amended and restated to read as follows:
1.34.    “Revolving Loan Expiration Date” means December 29, 2015, or such later date or dates, if applicable, as to which Borrower and Lender (each in their sole and absolute discretion, which may be exercised arbitrarily) may agree in writing.

1.2    Effective as of the date hereof, Section [A][ii] of Schedule 1 to the Loan Agreement is hereby amended and restated to read as follows:
[ii]    Promissory Note dated as of January 25, 2013, made by GERMAN AMERICAN BANCORP, INC., an Indiana corporation (the "Borrower"), to the order of STOCK YARDS BANK & TRUST COMPANY, a Kentucky banking corporation ("Lender"), in the face principal amount of $10,000,000.00, as amended by that certain Omnibus Amendment to Loan Documents effective as of December 31, 2013, as further amended by that certain Second Omnibus Amendment to Loan Documents effective as of December 30, 2014 (collectively, the "Revolving Note") and maturing on December 29, 2015.
1.3    Effective as of the date hereof, the Revolving Note Exhibit is hereby amended as follows:

A.    Each reference to the Final Maturity Date is hereby amended to mean December 29, 2015.

1.4    Effective as of the date hereof, each reference to the Loan Agreement contained in any of the Loan Documents shall be deemed to refer to the Loan Agreement as the same has been amended pursuant to this Amendment.

 
ARTICLE 2
AMENDMENT TO STOCK PLEDGE AGREEMENT
 
2.1    Effective as of the date hereof, each reference to the Revolving Note, the Loan Agreement, or the final maturity date of the Revolving Note contained in that certain Stock Pledge Agreement dated as of January 25, 2013, as amended by that certain Omnibus Amendment to Loan Documents dated as of December 31, 2013, shall hereby be deemed to refer to the same as amended by this Amendment.

 
ARTICLE 3
AMENDMENT TO REVOLVING NOTE
 
3.1    Effective as of the date hereof, the Revolving Note is hereby amended as follows:

A.    Each reference to the Final Maturity Date is hereby amended to mean December 29, 2015.

3.2    This Amendment is not intended to, and shall not, affect a novation of the obligations expressed in the Revolving Note or the Loan Documents.  Except as expressly provided herein, the Revolving Note shall continue to be in full force and effect from and after the date of this Amendment as it was prior to the date hereof.
  

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ARTICLE 4
AMENDMENT TO LOAN DOCUMENTS

4.1    Effective as of the date hereof, each reference to the Loan Agreement or any of the Loan Documents (as the term is defined in the Loan Agreement) shall mean and be deemed to refer to each of the same as modified by this Amendment. 
 
ARTICLE 5
CONDITIONS TO EFFECTIVENESS
 
5.1    This Amendment shall become effective when, and only when, [i] Lender has received this Amendment duly executed by Borrower together with any extension fees, unused loan fees, and required payments of principal or interest due under the Loan Documents as of the date hereof, and [ii] Lender has received such other documents, instruments and certificates as Lender may reasonably request to insure the binding effect in accordance with the terms hereof and of the Loan Documents and to establish the security for the benefit of Lender contemplated thereby.

ARTICLE 6
MISCELLANEOUS PROVISIONS
 
6.1    Except as modified by this Amendment, all of the provisions of the Loan Documents shall continue in full force and effect in the same form as they existed immediately prior to the effectiveness of this Amendment.  This Amendment is not intended to, and shall not, affect a novation of the obligations expressed in the Loan Documents, nor are any of the Loan Documents intended to be released, altered or changed in any manner except as expressly provided herein, and the lien of such documents shall continue to be in full force and effect from and after the date of this Amendment as it was prior to the date hereof.
6.2    By executing this Amendment, the Borrower hereby represents and warrants that the parties signing this Amendment and any other documents related thereto on behalf of the Borrower each have the full power and authority to execute the same, and that the above mentioned documents are binding and enforceable against the Borrower in accordance with their respective terms.  
6.3    The Borrower hereby acknowledges and agrees that neither it nor any other party has any defenses or offsets to the payment of any amount due to Lender under any of the Loan Documents, and that neither it nor any other party has any defenses to the performance of any of the obligations arising under or in connection with any of the other Loan Documents.
6.4    This Amendment contains the final, complete and exclusive understanding of the parties to it with regard to its subject matter, may not be modified except pursuant to a writing signed by the party charged with the modification, shall be binding upon and inure to the benefit of the respective successors and assigns of each of the parties to it and shall be governed in all respects by the laws of the Commonwealth of Kentucky.  Borrower agrees to pay all costs and expenses incurred by Lender, including reasonable attorneys’ fees, in connection with the preparation of this Amendment and the documents delivered pursuant to it.  

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Borrower hereby restates and confirms each of the representations and warranties contained in the Loan Agreement and the other Loan Documents to which it is a party, respectively, as modified by this Amendment, and represents and warrants to, and agrees with, Lender that it has no offsets, defenses, claims or counterclaims to, or in connection with, any of its obligations pursuant thereto.
This Amendment may be executed in multiple counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same agreement.

 
(the remainder of this page has been intentionally left blank)

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IN TESTIMONY WHEREOF, witness the signatures of each of the parties to this Amendment effective as of the date first set forth above.
 
“Borrower”
 
	
			
	 
	GERMAN AMERICAN BANCORP, INC., an Indiana corporation

	 
	 

	 
	By:
	/s/ Bradley M. Rust

	 
	 

	 
	Print Name:
	Bradley M. Rust

	 
	 
	 

	 
	Title:
	EVP/CFO

 
	
				
	STATE OF
	Indiana
	          
	                                    )

	 
	 
	)
	ss:

	COUNTY OF
	Dubois
	)
	 

 
On this, the 30th day of December, 2014, before me, a Notary Public, the undersigned officer, personally appeared Bradley M. Rust, who acknowledged himself to be the EVP/CFO of GERMAN AMERICAN BANCORP, INC., an Indiana corporation, and that he, in such capacity, being authorized to do so, executed the foregoing instrument for the purposes therein contained by signing on behalf of said corporation.
 
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
 
	
			
	 
	Melissa L. Hafele
	 

	 
	Notary Public
	 

My commission expires:  March 20, 2015

 

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	“Lender”

 
	
			
	 
	STOCK YARDS BANK & TRUST COMPANY, a Kentucky banking corporation

	 
	 

	 
	By:
	/s/ James E. Brown

	 
	 
	 

	 
	Print Name:
	James E. Brown

	 
	 

	 
	Title:
	Senior Vice President

 
	
				
	STATE OF KENTUCKY
	                        )
	 
	 

	 
	 
	)
	              ss:

	COUNTY OF
	Jefferson
	)
	 

 
On this, the 31st day of December, 2014, before me, a Notary Public, the undersigned officer, personally appeared James E. Brown, who acknowledged himself/herself to be the Senior Vice President of STOCK YARDS BANK & TRUST COMPANY, a Kentucky banking corporation, and that he/she, in such capacity, being authorized to do so, executed the foregoing instrument for the purposes therein contained by signing on behalf of said corporation.

IN WITNESS WHEREOF, I hereunto set my hand and official seal.
 
	
			
	 
	Tammy Kraft
	 

	 
	Notary Public
	 

My commission expires:  November 3, 2018

61277897.2

 

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