Document:

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                           AMENDMENT NUMBER ONE TO THE
                      SENIOR EXECUTIVE SEVERANCE AGREEMENT

     Pursuant to the power reserved in Section 12 of the Senior Executive
Severance Agreement ("Agreement") made and entered into between Stock Yards Bank
and Trust Company, a Kentucky banking corporation ("Bank"), AND DAVID P.
HEINTZMAN ("Executive"), the Bank and the Executive hereby amend the Agreement,
effective this 27TH day of February, 1997, as follows:

                                    Section 1

     By amending Section 1, DEFINITIONS, to revise the definition of "CHANGE OF
CONTROL" to read as follows:

     A "CHANGE IN CONTROL" of SY Bancorp shall be deemed to have occurred if:

     (i) any Person (as defined in this definition) is or becomes the Beneficial
     Owner (as defined in this definition) of securities of SY Bancorp
     representing 20% or more of the combined voting power of SY Bancorp's then
     outstanding securities (unless (A) such Person is the Beneficial Owner of
     20% or more of such securities as of April 26, 1995 or (B) the event
     causing the 20% threshold to be crossed is an acquisition of securities
     directly from SY Bancorp);

     (ii) during any period of two consecutive years beginning after April 26,
     1995, individuals who at the beginning of such period constitute the Board
     of Directors of SY Bancorp and any new director (other than a director
     designated by a person who has entered into an agreement with SY Bancorp to
     effect a transaction described in clause (i), (iii) or (iv) of this Change
     in Control definition) whose election or nomination for election was
     approved by a vote of at least two-thirds of the directors then still in
     office who either were directors at the beginning of the period or whose
     election or nomination for election was previously so approved cease for
     any reason to constitute a majority of the Board of Directors of SY
     Bancorp;

     (iii) the shareholders of SY Bancorp approve a merger or consolidation of
     SY Bancorp with any other corporation (other than a merger or consolidation
     which would result in the voting securities of SY Bancorp outstanding
     immediately prior thereto continuing to represent (either by remaining
     outstanding or by being converted into voting securities of the entity
     surviving such merger or consolidation), in combination

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     with voting securities of SY Bancorp or such surviving entity held by a
     trustee or other fiduciary pursuant to any employee benefit plan of SY
     Bancorp or such surviving entity or of any subsidiary of SY Bancorp or such
     surviving entity, at least 80% of the combined voting power of the
     securities of SY Bancorp or such surviving entity outstanding immediately
     after such merger or consolidation); or

     (iv) the shareholders of SY Bancorp approve a plan of complete liquidation
     or dissolution of SY Bancorp or an agreement for the sale or disposition by
     SY Bancorp of all or substantially all of SY Bancorp's assets.

     (v) For purposes of the definition of Change in Control, "Person" shall
     have the meaning ascribed to such term in Section 3(a)(9) of the Securities
     Exchange Act of 1934, as amended, as supplemented by Section 13(d)(3) of
     such Act; provided, however, that Person shall not include (i) SY Bancorp,
     any subsidiary or any other Person controlled by SY Bancorp, (ii) any
     trustee or other fiduciary holding securities under any employee benefit
     plan of SY Bancorp or of any subsidiary, or (iii) a corporation owned,
     directly or indirectly, by the shareholders of SY Bancorp in substantially
     the same proportions as their ownership of securities of SY Bancorp.

     (vi) For purposes of the definition of Change in Control, a Person shall be
     deemed the "Beneficial Owner" of any securities which such Person, directly
     or indirectly, has the right to vote or dispose of or has "beneficial
     ownership" (within the meaning of Rule 13d-3 under the Securities Exchange
     Act of 1934, as amended) of, including pursuant to any agreement,
     arrangement or understanding (whether or not in writing); provided,
     however, that: (i) a Person shall not be deemed the Beneficial Owner of any
     security as a result of an agreement, arrangement or understanding to vote
     such security (x) arising solely from a revocable proxy or consent given in
     response to a public proxy or consent solicitation made pursuant to, and in
     accordance with, the Securities Exchange Act of 1934, as amended, and the
     applicable rules and regulations thereunder or (y) made in connection with,
     or to otherwise participate in, a proxy or consent solicitation made, or to
     be made, pursuant to, and in accordance with, the applicable provisions of
     the Securities Exchange Act of 1934, as amended, and the applicable rules
     and regulations thereunder; in either case described in clause (x) or
     clause (y) above, whether or not such agreement, arrangement or
     understanding is also then reportable by such Person on Schedule 13D under
     the Securities Exchange Act of 1934,

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     as amended (or any comparable or successor report); and (ii) a Person
     engaged in business as an underwriter of securities shall not be deemed to
     be the Beneficial Owner of any securities acquired through such Person's
     participation in good faith in a firm commitment underwriting until the
     expiration of forty days after the date of such acquisition.

                                    Section 2

     By amending Section 1, DEFINITIONS, to revise the preamble to definition of
"FORCED RESIGNATION" to read as follows:

     "FORCED RESIGNATION" means a resignation at the Executive's initiative
     following a Change in Control and the occurrence of any of the following
     triggering events, provided such resignation occurs within twelve (12)
     months after a triggering event or, if earlier, within thirty-six (36)
     months after a Change in Control:

                                    Section 3

     By amending Section 1, DEFINITIONS, to add a definition of the term
"Acquisition Transaction" to read as follows:

          "ACQUISITION TRANSACTION" shall be deemed to have taken place if the
          shareholders of SY Bancorp approve (a) a merger or consolidation of SY
          Bancorp with any other corporation, other than a merger or
          consolidation which would result in the voting securities of SY
          Bancorp which are outstanding immediately prior to such merger or
          consolidation continuing to represent (either by remaining outstanding
          or by being converted into voting securities of the entity surviving
          such merger or consolidation) at least 80% of the voting securities of
          SY Bancorp or such surviving entity outstanding immediately after such
          merger or consolidation or (b) a plan of complete liquidation or
          dissolution of SY Bancorp or an agreement for the sale or disposition
          by SY Bancorp of all or substantially all of SY Bancorp's assets.

                                    Section 4

     By amending Section 2 to renumber the existing language in Section 2 as
Section 2(b) and to add a new Section 2(a) to read as follows:

          (a)(i) SEVERANCE PAYMENT UPON INVOLUNTARY TERMINATION PRIOR TO
          ACQUISITION TRANSACTION. Except as set forth in Section 2(a)(ii), if
          the Executive's employment with the Bank is involuntarily terminated
          by the Board of Directors of the Bank during the Term and within a
          twelve month period beginning on the later of

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          the date the Board of Directors approves the going forward of
          discussions with a potential buyer or buyers for SY Bancorp or the
          Bank or the date the Executive has expressed the Executive's written
          opposition to such sale or potential sale of SY Bancorp or the Bank to
          the Board of Directors, the Bank shall pay the Executive (A) his full
          salary through the date of such termination, which termination shall
          not be effective until the later of the effective date set forth in
          the Notice of Termination or two weeks following written notice to the
          Executive, and (B) the Severance Payment described in this Section
          2(a)(i). On the effective date of an Acquisition Transaction which
          results from such discussions, the Bank shall pay to the Executive a
          severance payment equal to 299 percent of the Executive's Base Amount
          (the "Severance Payment"). The Severance Payment under this Section
          2(a)(i) shall be payable to the Executive in a lump sum, in
          immediately available funds, and shall be subject to any applicable
          payroll or other taxes required to be withheld. Such Severance Payment
          shall be in lieu of any other severance payment provided for by the
          Bank in accordance with its standard of practice and operations for
          Executive at the time of payment of this Severance Payment.

          (a)(ii) FORFEITURE OF SEVERANCE PAYMENT. No payment shall be made
          under Section 2(a)(i) to the Executive if (A) the Executive
          voluntarily divulges or otherwise discloses, directly or indirectly,
          any trade secrets or other confidential information concerning the
          business, policies, or sale or potential sale of SY Bancorp or the
          Bank which is not lawfully attainable from public sources, unless such
          disclosure is required by law or authorized by the Bank, (B) the
          Executive is involuntarily terminated by the Bank for Cause, (C) the
          Executive is terminated due to death, Retirement or Permanent
          Disability, or (D) the Executive fails to fulfill the Executive's
          responsibilities as an officer and/or director of the Bank and SY
          Bancorp during the period after the above-mentioned Board of
          Director's approval and while the Executive remains employed by the
          Bank; provided, however, following public announcement by the Bank or
          SY Bancorp of an Acquisition Transaction or proposed Acquisition
          Transaction, the Executive shall not be deemed to have breached his
          responsibilities as an officer or director of the Bank and SY Bancorp
          and thereby to have forfeited his entitlement to the severance payment
          described in Section 2(a)(i) above if he expresses publicly his
          opposition to such transaction or proposed transaction, solicits votes
          or proxies from shareholders of SY Bancorp against the transaction or

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          otherwise solicits or encourages others to oppose such transaction.

                                    Section 5

     By amending the new Section 2(b) to read as follows:

     (b) SEVERANCE PAYMENT UPON TERMINATION FOLLOWING CHANGE IN CONTROL. During
     the Term, if the Executive's employment with the Bank terminates (either at
     the initiative of the Bank or the Executive) within thirty-six (36) months
     after a Change in Control for any reason whatsoever other than for Cause or
     as a result of the Executive's death, Retirement, or Permanent Disability,
     the Bank shall pay the Executive his full salary through the date of such
     termination, which termination shall not be effective until the later of
     two (2) weeks following written notice thereof to the Executive or the
     effective date set forth in the notice of termination. In addition, for a
     termination at the initiative of the Executive (other than a Forced
     Resignation) that occurs within twenty-four (24) months after a Change in
     Control, the Bank shall pay the Severance Payment to the Executive as of
     the effective date of such termination. For a termination at the initiative
     of the Executive (other than a Forced Resignation) that occurs more than
     twenty-four (24) months but less than thirty-six (36) months after a Change
     in Control, the Bank shall pay the Executive as of the effective date of
     such termination 2/3 of the Severance Payment. For a termination at the
     Bank's initiative (other than for Cause) that occurs within thirty-six (36)
     months after a Change in Control or for a Forced Resignation, the Bank
     shall pay the Severance Payment to the Executive as of the effective date
     of such termination. Notwithstanding any provision to the contrary, in no
     event shall any Severance Payment (or portion thereof) be paid to the
     Executive if the Executive's employment is terminated for Cause or as a
     result of the Executive's death, Retirement, or Permanent Disability.
     Further, the Severance Payment (or portion thereof) shall be payable to the
     Executive in a lump sum, in immediately available funds, on the date the
     Executive's termination is effective, and shall be subject to any
     applicable payroll or other taxes required to be withheld. The Severance
     Payment shall be in lieu of any other severance payment provided for by the
     Bank in accordance with its standard of practice and operations for
     Executive at the time of payment of the Severance Payment.

                                    Section 6

     By amending Section 2 to add a new Section 2(c) to read as follows:

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          (c) NON-DUPLICATION OF PAYMENTS. In no event shall the Executive
          receive a payment under both Sections 2(a) and 2(b), and to the extent
          the Executive satisfies the conditions for payment under both such
          sections, the Bank shall pay to the Executive the payment computed
          under whichever section results in the largest payment to the
          Executive.

                                    Section 7

     By amending Section 3(a), ACCRUED VACATION AND SICK PAY, to read as
follows:

          The Executive shall be entitled to receive, in accordance with the
          Bank's standard employment policies in effect as of the date of this
          Agreement (or such more favorable policies as exist on the date of
          such termination), payment for any vacation and sick days which have
          accrued for the year in which the termination occurs but have not yet
          been paid to the Executive.

                                    Section 8

     By amending Section 4(a) to delete the second sentence of such section,
which prior to its deletion read as follows:

          (Should the Bank determine that the payment of (a) a Severance Payment
          equal to 299% of the Base Amount, plus (b) the payments provided for
          in Section 3 hereof, plus (c) any other payments under this Agreement,
          plus (d) any other payments payable to the Executive as a result of
          his severance, cause the total of all such payments to constitute a
          "parachute payment" under Section 280G of the Internal Revenue Code of
          1986, then the Bank shall have the right to reduce the Severance
          Payment to the highest amount payable to the Executive which does not
          cause the total of all such payments to constitute a "parachute
          payment".

                                    Section 9

     By amending Section 7 to replace the phrase "Section 6" with "Section 7"
wherever such phrase appears in such section, to add the words "as amended"
after the phrase "Internal Revenue Code of 1986" each time such phrase appears
in such section, and to add the following sentence at the end of Section 7:

          For purposes of the preceding sentence, to the extent the payments
          made under this Agreement, together with other payments made by SY
          Bancorp or the Bank to the Executive, cause the total of all such
          payments to result in an "excess parachute payment" under Section

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<Page>

          280G of the Internal Revenue Code of 1986, as amended, an ordering
          rule shall apply whereby the payments under this Agreement shall be
          deemed the "excess parachute payment"; provided, however, in no event
          shall the amount which is deemed to be the "excess parachute payment"
          for purposes of the indemnification under this Section 7 exceed the
          actual "excess parachute payment" under Section 280G of the Internal
          Revenue Code of 1986, as amended, resulting from payments made to the
          Executive by SY Bancorp or the Bank.

     IN WITNESS WHEREOF, the parties have executed this Amendment Number One as
of the day and year first above written.

                                        STOCK YARDS BANK AND TRUST COMPANY

                                        By: /s/Henry A. Meyer
                                            -----------------

                                        Title: Vice Chairman
                                               -------------

                                        /s/David D. Heintzman
                                        ---------------------
                                        Executive

                                        7<Page>

                           AMENDMENT NUMBER ONE TO THE
                      SENIOR EXECUTIVE SEVERANCE AGREEMENT

     Pursuant to the power reserved in Section 12 of the Senior Executive
Severance Agreement ("Agreement") made and entered into between Stock Yards Bank
and Trust Company, a Kentucky banking corporation ("Bank"), AND KATHLEEN C.
THOMPSON ("Executive"), the Bank and the Executive hereby amend the Agreement,
effective this 27TH day of February, 1997, as follows:

                                    Section 1

     By amending Section 1, DEFINITIONS, to revise the definition of "CHANGE OF
CONTROL" to read as follows:

     A "CHANGE IN CONTROL" of SY Bancorp shall be deemed to have occurred if:

     (i) any Person (as defined in this definition) is or becomes the Beneficial
     Owner (as defined in this definition) of securities of SY Bancorp
     representing 20% or more of the combined voting power of SY Bancorp's then
     outstanding securities (unless (A) such Person is the Beneficial Owner of
     20% or more of such securities as of April 26, 1995 or (B) the event
     causing the 20% threshold to be crossed is an acquisition of securities
     directly from SY Bancorp);

     (ii) during any period of two consecutive years beginning after April 26,
     1995, individuals who at the beginning of such period constitute the Board
     of Directors of SY Bancorp and any new director (other than a director
     designated by a person who has entered into an agreement with SY Bancorp to
     effect a transaction described in clause (i), (iii) or (iv) of this Change
     in Control definition) whose election or nomination for election was
     approved by a vote of at least two-thirds of the directors then still in
     office who either were directors at the beginning of the period or whose
     election or nomination for election was previously so approved cease for
     any reason to constitute a majority of the Board of Directors of SY
     Bancorp;

     (iii) the shareholders of SY Bancorp approve a merger or consolidation of
     SY Bancorp with any other corporation (other than a merger or consolidation
     which would result in the voting securities of SY Bancorp outstanding
     immediately prior thereto continuing to represent (either by remaining
     outstanding or by being converted into voting securities of the entity
     surviving such merger or consolidation), in combination

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     with voting securities of SY Bancorp or such surviving entity held by a
     trustee or other fiduciary pursuant to any employee benefit plan of SY
     Bancorp or such surviving entity or of any subsidiary of SY Bancorp or such
     surviving entity, at least 80% of the combined voting power of the
     securities of SY Bancorp or such surviving entity outstanding immediately
     after such merger or consolidation); or

     (iv) the shareholders of SY Bancorp approve a plan of complete liquidation
     or dissolution of SY Bancorp or an agreement for the sale or disposition by
     SY Bancorp of all or substantially all of SY Bancorp's assets.

     (v) For purposes of the definition of Change in Control, "Person" shall
     have the meaning ascribed to such term in Section 3(a)(9) of the Securities
     Exchange Act of 1934, as amended, as supplemented by Section 13(d)(3) of
     such Act; provided, however, that Person shall not include (i) SY Bancorp,
     any subsidiary or any other Person controlled by SY Bancorp, (ii) any
     trustee or other fiduciary holding securities under any employee benefit
     plan of SY Bancorp or of any subsidiary, or (iii) a corporation owned,
     directly or indirectly, by the shareholders of SY Bancorp in substantially
     the same proportions as their ownership of securities of SY Bancorp.

     (vi) For purposes of the definition of Change in Control, a Person shall be
     deemed the "Beneficial Owner" of any securities which such Person, directly
     or indirectly, has the right to vote or dispose of or has "beneficial
     ownership" (within the meaning of Rule 13d-3 under the Securities Exchange
     Act of 1934, as amended) of, including pursuant to any agreement,
     arrangement or understanding (whether or not in writing); provided,
     however, that: (i) a Person shall not be deemed the Beneficial Owner of any
     security as a result of an agreement, arrangement or understanding to vote
     such security (x) arising solely from a revocable proxy or consent given in
     response to a public proxy or consent solicitation made pursuant to, and in
     accordance with, the Securities Exchange Act of 1934, as amended, and the
     applicable rules and regulations thereunder or (y) made in connection with,
     or to otherwise participate in, a proxy or consent solicitation made, or to
     be made, pursuant to, and in accordance with, the applicable provisions of
     the Securities Exchange Act of 1934, as amended, and the applicable rules
     and regulations thereunder; in either case described in clause (x) or
     clause (y) above, whether or not such agreement, arrangement or
     understanding is also then reportable by such Person on Schedule 13D under
     the Securities Exchange Act of 1934,

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     as amended (or any comparable or successor report); and (ii) a Person
     engaged in business as an underwriter of securities shall not be deemed to
     be the Beneficial Owner of any securities acquired through such Person's
     participation in good faith in a firm commitment underwriting until the
     expiration of forty days after the date of such acquisition.

                                    Section 2

     By amending Section 1, DEFINITIONS, to revise the preamble to definition of
"FORCED RESIGNATION" to read as follows:

     "FORCED RESIGNATION" means a resignation at the Executive's initiative
     following a Change in Control and the occurrence of any of the following
     triggering events, provided such resignation occurs within twelve (12)
     months after a triggering event or, if earlier, within thirty-six (36)
     months after a Change in Control:

                                    Section 3

     By amending Section 1, DEFINITIONS, to add a definition of the term
"Acquisition Transaction" to read as follows:

          "ACQUISITION TRANSACTION" shall be deemed to have taken place if the
          shareholders of SY Bancorp approve (a) a merger or consolidation of SY
          Bancorp with any other corporation, other than a merger or
          consolidation which would result in the voting securities of SY
          Bancorp which are outstanding immediately prior to such merger or
          consolidation continuing to represent (either by remaining outstanding
          or by being converted into voting securities of the entity surviving
          such merger or consolidation) at least 80% of the voting securities of
          SY Bancorp or such surviving entity outstanding immediately after such
          merger or consolidation or (b) a plan of complete liquidation or
          dissolution of SY Bancorp or an agreement for the sale or disposition
          by SY Bancorp of all or substantially all of SY Bancorp's assets.

                                    Section 4

     By amending Section 2 to renumber the existing language in Section 2 as
Section 2(b) and to add a new Section 2(a) to read as follows:

          (a)(i) SEVERANCE PAYMENT UPON INVOLUNTARY TERMINATION PRIOR TO
          ACQUISITION TRANSACTION. Except as set forth in Section 2(a)(ii), if
          the Executive's employment with the Bank is involuntarily terminated
          by the Board of Directors of the Bank during the Term and within a
          twelve month period beginning on the later of

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          the date the Board of Directors approves the going forward of
          discussions with a potential buyer or buyers for SY Bancorp or the
          Bank or the date the Executive has expressed the Executive's written
          opposition to such sale or potential sale of SY Bancorp or the Bank to
          the Board of Directors, the Bank shall pay the Executive (A) his full
          salary through the date of such termination, which termination shall
          not be effective until the later of the effective date set forth in
          the Notice of Termination or two weeks following written notice to the
          Executive, and (B) the Severance Payment described in this Section
          2(a)(i). On the effective date of an Acquisition Transaction which
          results from such discussions, the Bank shall pay to the Executive a
          severance payment equal to 299 percent of the Executive's Base Amount
          (the "Severance Payment"). The Severance Payment under this Section
          2(a)(i) shall be payable to the Executive in a lump sum, in
          immediately available funds, and shall be subject to any applicable
          payroll or other taxes required to be withheld. Such Severance Payment
          shall be in lieu of any other severance payment provided for by the
          Bank in accordance with its standard of practice and operations for
          Executive at the time of payment of this Severance Payment.

          (a)(ii) FORFEITURE OF SEVERANCE PAYMENT. No payment shall be made
          under Section 2(a)(i) to the Executive if (A) the Executive
          voluntarily divulges or otherwise discloses, directly or indirectly,
          any trade secrets or other confidential information concerning the
          business, policies, or sale or potential sale of SY Bancorp or the
          Bank which is not lawfully attainable from public sources, unless such
          disclosure is required by law or authorized by the Bank, (B) the
          Executive is involuntarily terminated by the Bank for Cause, (C) the
          Executive is terminated due to death, Retirement or Permanent
          Disability, or (D) the Executive fails to fulfill the Executive's
          responsibilities as an officer and/or director of the Bank and SY
          Bancorp during the period after the above-mentioned Board of
          Director's approval and while the Executive remains employed by the
          Bank; provided, however, following public announcement by the Bank or
          SY Bancorp of an Acquisition Transaction or proposed Acquisition
          Transaction, the Executive shall not be deemed to have breached his
          responsibilities as an officer or director of the Bank and SY Bancorp
          and thereby to have forfeited his entitlement to the severance payment
          described in Section 2(a)(i) above if he expresses publicly his
          opposition to such transaction or proposed transaction, solicits votes
          or proxies from shareholders of SY Bancorp against the transaction or

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<Page>

          otherwise solicits or encourages others to oppose such transaction.

                                    Section 5

     By amending the new Section 2(b) to read as follows:

     (b) SEVERANCE PAYMENT UPON TERMINATION FOLLOWING CHANGE IN CONTROL. During
     the Term, if the Executive's employment with the Bank terminates (either at
     the initiative of the Bank or the Executive) within thirty-six (36) months
     after a Change in Control for any reason whatsoever other than for Cause or
     as a result of the Executive's death, Retirement, or Permanent Disability,
     the Bank shall pay the Executive his full salary through the date of such
     termination, which termination shall not be effective until the later of
     two (2) weeks following written notice thereof to the Executive or the
     effective date set forth in the notice of termination. In addition, for a
     termination at the initiative of the Executive (other than a Forced
     Resignation) that occurs within twenty-four (24) months after a Change in
     Control, the Bank shall pay the Severance Payment to the Executive as of
     the effective date of such termination. For a termination at the initiative
     of the Executive (other than a Forced Resignation) that occurs more than
     twenty-four (24) months but less than thirty-six (36) months after a Change
     in Control, the Bank shall pay the Executive as of the effective date of
     such termination 2/3 of the Severance Payment. For a termination at the
     Bank's initiative (other than for Cause) that occurs within thirty-six (36)
     months after a Change in Control or for a Forced Resignation, the Bank
     shall pay the Severance Payment to the Executive as of the effective date
     of such termination. Notwithstanding any provision to the contrary, in no
     event shall any Severance Payment (or portion thereof) be paid to the
     Executive if the Executive's employment is terminated for Cause or as a
     result of the Executive's death, Retirement, or Permanent Disability.
     Further, the Severance Payment (or portion thereof) shall be payable to the
     Executive in a lump sum, in immediately available funds, on the date the
     Executive's termination is effective, and shall be subject to any
     applicable payroll or other taxes required to be withheld. The Severance
     Payment shall be in lieu of any other severance payment provided for by the
     Bank in accordance with its standard of practice and operations for
     Executive at the time of payment of the Severance Payment.

                                    Section 6

     By amending Section 2 to add a new Section 2(c) to read as follows:

                                        5
<Page>

          (c) NON-DUPLICATION OF PAYMENTS. In no event shall the Executive
          receive a payment under both Sections 2(a) and 2(b), and to the extent
          the Executive satisfies the conditions for payment under both such
          sections, the Bank shall pay to the Executive the payment computed
          under whichever section results in the largest payment to the
          Executive.

                                    Section 7

     By amending Section 3(a), ACCRUED VACATION AND SICK PAY, to read as
follows:

          The Executive shall be entitled to receive, in accordance with the
          Bank's standard employment policies in effect as of the date of this
          Agreement (or such more favorable policies as exist on the date of
          such termination), payment for any vacation and sick days which have
          accrued for the year in which the termination occurs but have not yet
          been paid to the Executive.

                                    Section 8

     By amending Section 4(a) to delete the second sentence of such section,
which prior to its deletion read as follows:

          (Should the Bank determine that the payment of (a) a Severance Payment
          equal to 299% of the Base Amount, plus (b) the payments provided for
          in Section 3 hereof, plus (c) any other payments under this Agreement,
          plus (d) any other payments payable to the Executive as a result of
          his severance, cause the total of all such payments to constitute a
          "parachute payment" under Section 280G of the Internal Revenue Code of
          1986, then the Bank shall have the right to reduce the Severance
          Payment to the highest amount payable to the Executive which does not
          cause the total of all such payments to constitute a "parachute
          payment".

                                    Section 9

     By amending Section 7 to replace the phrase "Section 6" with "Section 7"
wherever such phrase appears in such section, to add the words "as amended"
after the phrase "Internal Revenue Code of 1986" each time such phrase appears
in such section, and to add the following sentence at the end of Section 7:

          For purposes of the preceding sentence, to the extent the payments
          made under this Agreement, together with other payments made by SY
          Bancorp or the Bank to the Executive, cause the total of all such
          payments to result in an "excess parachute payment" under Section

                                        6
<Page>

          280G of the Internal Revenue Code of 1986, as amended, an ordering
          rule shall apply whereby the payments under this Agreement shall be
          deemed the "excess parachute payment"; provided, however, in no event
          shall the amount which is deemed to be the "excess parachute payment"
          for purposes of the indemnification under this Section 7 exceed the
          actual "excess parachute payment" under Section 280G of the Internal
          Revenue Code of 1986, as amended, resulting from payments made to the
          Executive by SY Bancorp or the Bank.

     IN WITNESS WHEREOF, the parties have executed this Amendment Number One as
of the day and year first above written.

                                        STOCK YARDS BANK AND TRUST COMPANY

                                        By: /s/Henry A. Meyer
                                            -----------------

                                        Title: Vice Chairman
                                               -------------

                                        /s/Kathy C. Thompson
                                        ---------------------
                                        Executive

                                       7

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