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                                                                    Exhibit 10.6

                          FIDELITY SOUTHERN CORPORATION

                         EXECUTIVE CONTINUITY AGREEMENT

     This Executive Continuity Agreement (this "Agreement') is made as of
January 19, 2006, between Fidelity Southern Corporation ("Fidelity Southern")
and the Bank (together with Fidelity Southern collectively referred to as
"Fidelity") and David Buchanan (the "Executive").

     The purpose of this Agreement is to encourage the Executive to continue
employment with Fidelity after a Change of Control of Fidelity Southern or the
Bank by providing reasonable employment security to the Executive and to
recognize the prior service of the Executive in the event of a Termination of
Employment under defined circumstances after any such Change of Control. This
Agreement supersedes and replaces all prior similar written and oral agreements
between the Executive and Fidelity and is in addition to any employment
agreement entered into between Fidelity and the Executive before, on or after
the date hereof.

Section 1. Definitions. For purposes of this Agreement:

     (a)  "Affiliate" means any entity with whom Fidelity Southern or the Bank
          would be considered a single employer under Code Sections 414(b) or
          414(c).

     (b)  "Annual Base Salary" shall have the meaning set forth in Section 3.

     (c)  "Bank" shall mean Fidelity Bank and the successors of all or
          substantially all of its business.

     (d)  "Beneficiary" means the person or entity designated by the Executive,
          by a written instrument delivered to Fidelity Southern, to receive any
          benefits payable under this Agreement in the event of the Executive's
          death. If the Executive fails to designate a Beneficiary, or if no
          beneficiary survives the Executive, such Benefits on the death of the
          Executive will be paid to the Executive's estate.

     (e)  "Board" means the Board of Directors of Fidelity Southern.

     (f)  "Cause" means:

          (1)  The willful and continued failure by the Executive to
               substantially perform the material duties of the Executive with
               Fidelity and/or any Affiliate (other than any such failure
               resulting from the Disability of the Executive) for a continuous
               period of three months, after a written demand for such
               performance is delivered to the Executive at the direction of the
               Board by the Chief Executive Officer of Fidelity Southern or by
               any person designated by the board of Fidelity Southern or the
               Bank, which written demand specifically identifies the material
               duties of which Fidelity believes that the Executive has not
               substantially performed or

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          (2)  The willful engaging by the Executive in gross misconduct
               materially and demonstrably injurious to Fidelity. No act, or
               failure to act, on the Executive's part shall be considered
               "willful" unless done, or omitted to be done, by the Executive in
               the absence of good faith and without a reasonable belief that
               the action or failure to act of the Executive was in the best
               interest of Fidelity or any Affiliates.

     (g)  "Change of Control" means the occurrence hereafter of any event
          described in (1), (2) or (3) below.

          (1)  Any "person" (as such term is used in Sections 13(d)(3) or
               14(d)(2) of the Securities Exchange Act of 1934, as amended, the
               "Act) acquires "beneficial ownership" (as such term is defined in
               Rule 13d-3 promulgated under the Act), directly or indirectly, of
               equity securities of Fidelity Southern or the Bank representing
               more than fifty percent (50%) of the combined voting power
               represented by the outstanding voting securities of Fidelity
               Southern or the Bank, as the case may be ("Voting Power").

          (2)  Individuals who constitute the membership of the Board or the
               board of the Bank on the date of this Agreement (each being
               hereinafter referred to as the "Incumbent Board') cease at any
               time hereafter, to constitute at least a majority of the Board or
               the board of the Bank, provided that any director whose
               nomination was approved by a majority of the Incumbent Board will
               be considered a member of the Incumbent Board, excluding any such
               individual not otherwise a member of the Incumbent Board whose
               initial assumption of office is in connection with an actual or
               threatened election contest relating to the election of the
               directors of Fidelity Southern or the Bank.

          (3)  The effective date of a complete liquidation or dissolution of
               Fidelity Southern or the Bank, or of the sale or other
               disposition of all or substantially all of the assets of Fidelity
               Southern or the Bank, as approved by the shareholders of Fidelity
               Southern or the Bank, as the case may be, or the acquisition by a
               person, other than Fidelity Southern, of beneficial ownership,
               directly or indirectly, of equity securities of the Bank
               representing more than fifty percent (50%) of the combined voting
               power represented by the Bank's then outstanding voting
               securities.

               If a Change of Control occurs on account of a series of
               transactions, the Change of Control is deemed to have occurred on
               the date of the last of such transactions which results in the
               Change of Control.

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     (h)  "Change of Control Period" shall have the meaning set forth in Section
          4(a).

     (i)  "Code" means the Internal Revenue Code of 1986, amended.

     (j)  "Commencement Date" shall have the meaning set forth in Section 3(a).

     (k)  "Compensation" means the total compensation paid to the Executive by
          Fidelity Southern, the Bank and/or any Affiliate which is or will be
          reportable as income under the Code on Internal Revenue Service Form
          W-2, (i) plus any amount contributed by the Executive pursuant to a
          salary reduction agreement, which is not includible in gross income
          under Code Sections 125 or 402(g) or under any other program that
          provides for pre-tax salary reductions and compensation deferrals;
          (ii) plus any amount of the Executive's compensation which is deferred
          under any other plan or program of Fidelity and (iii) reduced by any
          income reportable on Form W-2 that is attributable to the exercise of
          any stock option or other equity award.

     (l)  "Disability" means a complete inability of the Executive substantially
          to perform the employment duties for Fidelity Southern or the Bank or
          any Affiliate for a period of at least one hundred and eighty (180)
          consecutive days.

     (m)  "Employment Period" shall have the meaning set forth in Section 3(a).

     (n)  "Final Compensation" means the highest of (i) the Executive's
          Compensation for the 12 full calendar months immediately preceding the
          Change of Control; (ii) the Executive's annual base salary rate
          payable by Fidelity Southern, the Bank and any Affiliate, in effect
          immediately preceding the Change of Control or (iii) the Executive's
          annual base salary rate as set by Fidelity Southern, the Bank and any
          Affiliate, effective at any time during the Employment Period.

     (o)  "Good Reason" will exist with respect to the Executive if, without the
          Executive's express written consent, the following events occur after
          a Change of Control which are not corrected within thirty (30) days
          after receipt of written notice from the Executive to Fidelity
          Southern:

          (1)  there is a material change in the Executive's position or
               responsibilities (including reporting responsibilities) which, in
               the Executive's reasonable judgment, represents an adverse change
               from the Executive's status, title, position or responsibilities
               immediately prior to the Change of Control;

          (2)  the assignment to the Executive of any duties or responsibilities
               which are inconsistent with the position or responsibilities of
               the Executive immediately prior to the Change of Control;

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          (3)  any removal of the Executive from or failure to reappoint or
               reelect the Executive to any of the positions the Executive held
               immediately prior to the Change of Control;

          (4)  there is a reduction in the Executive's rate of annual base
               salary or a change in the manner the incentive compensation of
               the Executive is calculated and such change will result in a
               reduction of the incentive compensation of the Executive;

          (5)  the requiring of the Executive to relocate his principal business
               office to any place outside a fifteen (15) mile radius from the
               Executive's current place of employment in Atlanta, Georgia
               (reasonable required travel on Fidelity's business which is
               materially greater than such travel requirements prior to the
               Change of Control shall not constitute a relocation of the
               Executive's principal business office);

          (6)  the failure of Fidelity to continue in effect any Welfare Plan,
               Individual Life Insurance Policy or other compensation plan,
               program or policy in which the Executive is participating
               immediately prior to the Change of Control without substituting
               plans providing the Executive with substantially similar or
               greater benefits, or the taking of any action by Fidelity which
               would materially and adversely affect the Executive's
               participation in or materially reduce the Executive's benefits
               under any of such plans or deprive the Executive of any material
               fringe benefit enjoyed by the Executive immediately prior to the
               Change of Control or

          (7)  the material breach of any provision of this Agreement which is
               not timely corrected by Fidelity upon thirty (30) days prior
               written notice from the Executive.

     (p)  "Individual Life Insurance Policy" means the Flexible Premium
          Adjustable Life Insurance, Universal Life policy, issued by Great-West
          Life & Annuity Insurance Company in the face amount of $500,000
          payable to beneficiaries designated by the Executive, or his estate or
          trust in lieu thereof.

     (q)  "Non-Compete Benefit" means the benefit provided in Section 14.

     (r)  "Salary Continuance Benefit" means the benefit provided in Section
          4(b).

     (s)  "Severance Benefit" means a Salary Continuance Benefit and/or a
          Welfare Continuance Benefit.

     (t)  "Severance Period" means the period beginning on the date of the
          Executive's Termination of Employment by Fidelity Southern, the Bank
          or any Affiliate, other than for Cause, Disability or death, or by the

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          Executive for Good Reason and ending on the date twelve (12) months
          thereafter.

     (u)  "Specified Employee" means an employee who is (i) an officer of
          Fidelity Southern having annual compensation greater than $135,000
          (with certain adjustments for inflation after 2005), (ii) a
          five-percent owner of Fidelity Southern or (iii) a one-percent owner
          of Fidelity Southern having annual compensation greater than $150,000.
          For purposes of this Section, no more than 50 employees (or, if
          lesser, the greater of three or 10 percent of the employees) shall be
          treated as officers. Employees who (i) normally work less than 17 1/2
          hours per week, (ii) normally work not more than 6 months during any
          year, (iii) have not attained age 21 or (iv) are included in a unit of
          employees covered by an agreement which the Secretary of Labor finds
          to be a collective bargaining agreement between employee
          representatives and Fidelity Southern (except as otherwise provided in
          regulations issued under the Code) shall be excluded for purposes of
          determining the number of officers. For purposes of this Section, the
          term "five-percent owner" ("one-percent owner") means any person who
          owns more than five percent (one percent) of the outstanding stock of
          Fidelity Southern or stock possessing more than five percent (one
          percent) of the total combined voting power of all stock of Fidelity
          Southern. For purposes of determining ownership, the attribution rules
          of Section 318 of the Code shall be applied by substituting "five
          percent" for "50 percent" in Section 318(a)(2) and the rules of
          Sections 414(b), 414(c) and 414(m) of the Code shall not apply. For
          purposes of this Section, the term "compensation" has the meaning
          given such term by Section 414(q)(4) of the Code. The determination of
          whether the Executive is a Specified Employee will be based on a
          December 31 identification date such that if the Executive satisfies
          the above definition of Specified Employee at any time during the
          12-month period ending on December 31, he will be treated as a
          Specified Employee if he has a Termination of Employment during the
          12-month period beginning on the first day of the fourth month
          following the identification date. This definition is intended to
          comply with the specified employee rules of Section 409A(a)(2)(B)(i)
          of the Code and shall be interpreted accordingly.

     (v)  "Termination of Employment" means the termination of the Executive's
          employment with Fidelity Southern, the Bank and all Affiliates;
          provided, however, that the Executive will not be considered as having
          had a Termination of Employment if (i) the Executive continues to
          provide services to Fidelity Southern, the Bank or any Affiliate as an
          employee at an annual rate that is at least equal to 20 percent of the
          services rendered, on average, during the immediately preceding three
          full calendar years of employment (or, if employed less than three
          years, such lesser period) and the annual remuneration for such
          services is at least equal to 20 percent of the average annual
          remuneration earned during the final three full calendar years of
          employment (or if less, such lesser period), (ii) the Executive

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          continues to provide services to Fidelity Southern, the Bank or any
          Affiliate in a capacity other than as an employee and such services
          are provided at an annual rate that is 50 percent or more of the
          services rendered, on average, during the immediately preceding three
          full calendar years of employment (or, if employed less than three
          years, such lesser period) and the annual remuneration for such
          services is 50 percent or more of the annual remuneration earned
          during the final three full calendar years of employment (or, if less,
          such lesser period) or (iii) the Executive is on military leave, sick
          leave or other bona fide leave of absence (such as temporary
          employment by the government) so long as the period of such leave does
          not exceed six months, or if longer, so long as the individual's right
          to reemployment with Fidelity Southern, the Bank or any Affiliate is
          provided either by statute or by contract. If the period of leave
          exceeds six months and the Executive's right to reemployment is not
          provided either by statute or by contract, the Termination of
          Employment will be deemed to occur on the first date immediately
          following such six-month period. For purposes of this Section, annual
          rate of providing services shall be determined based upon the
          measurement used to determine the Executive's base compensation.

     (w)  "Voting Power" shall have the meaning set forth in Section 1(g)(1).

     (x)  "Welfare Continuance Benefit" means the benefit provided in Section
          4(c).

     (y)  "Welfare Plan" means any medical, prescription, dental, disability,
          salary continuation, employee life, accidental death, travel accident
          insurance or any other welfare benefit plan, as defined in Section
          3(l) of the Employee Retirement Income Security Act of 1974, as
          amended ("ERISA") made available by Fidelity Southern, the Bank or any
          Affiliate in which the Executive is eligible to participate; provided,
          however, that the term "Welfare Plan" shall not include the Individual
          Life Insurance Policy.

Section 2. Employment After Change of Control.

If the Executive is employed by Fidelity Southern, the Bank or an Affiliate on
the Commencement Date, such employer will continue to employ the Executive for
the Employment Period.

Section 3. Compensation During Employment Period.

     (a)  During the period commencing one year prior to a Change of Control
          ("Commencement Date") and ending upon the earlier of (i) one year
          after a Change of Control or (ii) upon the Executive's Termination of
          Employment for any reason by the Executive or by Fidelity Southern or
          the Bank or any Affiliate ("Employment Period"), the Executive will
          receive an annual base salary ("Annual Base Salary"), at least equal
          to the

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          greater of (i) the highest annual base salary payable to the Executive
          by Fidelity Southern, the Bank and/or Affiliates in respect of the
          twelve full calendar month period immediately preceding the
          Commencement Date or (ii) the highest annual base salary rate of the
          Executive payable on and after the Commencement Date and prior to the
          Change of Control. During the Employment Period, the Annual Base
          Salary will be increased at any time and from time to time so as to be
          substantially consistent with increases in base salaries generally
          awarded in the ordinary course of business to other peer executives of
          Fidelity Southern, the Bank and Affiliates. Any increase in Annual
          Base Salary will not serve to limit or reduce any other obligation to
          the Executive under this Agreement. The Annual Base Salary will not be
          reduced thereafter nor shall any such increase during the Employment
          Period be reduced thereafter.

     (b)  During the Employment Period, the Executive will be entitled to
          participate in all incentive plans (including, without limitation,
          stock option, stock purchase, savings, supplemental medical and
          retirement plans) and other programs and practices applicable
          generally to other peer executives of Fidelity Southern, the Bank or
          any Affiliates, but in no event will such plans and other programs,
          practices, including policies to provide the Executive with incentive
          opportunities, savings opportunities and retirement and other benefit
          opportunities, in each case, be less favorable, in the aggregate, than
          those provided by Fidelity Southern, the Bank or any Affiliates for
          the Executive under such plans, practices, policies and program as in
          effect at any time on and after the Commencement Date and prior to the
          Change of Control.

     (c)  In addition the method of the calculation of the Executive's total
          incentive compensation for each fiscal year, or part thereof, during
          the Employment Period will not be changed in any manner which will
          result in less total incentive compensation being paid or payable to
          the Executive by Fidelity Southern, the Bank and Affiliates in respect
          of the Employment Period (or any portion thereof) from the maximum
          amount that would have been paid using the method of calculating
          incentive compensation under the incentive compensation programs in
          effect on and after the Commencement Date and prior to the Change of
          Control. The parties agree that the Executive shall be entitled to
          incentive compensation for services rendered during part of a fiscal
          year regardless of the reason for the Termination of Employment of the
          Executive.

     (d)  During the Employment Period the Executive and the eligible members of
          the Executive's family ("Dependents") who participated (or otherwise
          were provided coverage) on the Commencement Date and continue to be
          eligible for participation in any Welfare Plan, will receive all such
          benefits under the Welfare Plans to the extent applicable generally to
          other peer executives of Fidelity Southern, the Bank and Affiliates
          and their Dependents similarly situated, but in no event will the
          Welfare Plans

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          provide benefits for the Executive and Dependents that are less
          favorable, in the aggregate, than the most favorable benefits provided
          under the Welfare Plans in effect at any time during the Employment
          Period.

     (e)  During the Employment Period, Fidelity Southern will maintain in place
          the Individual Life Insurance Policy.

     (f)  During the Employment Period, the Executive will be entitled to fringe
          benefits in accordance with the most favorable plans, practices,
          programs and policies of Fidelity Southern, the Bank and any Affiliate
          in effect for which the Executive qualifies or qualified at any time
          during the Employment Period including, if more favorable to the
          Executive, as in effect at any time on or after the Change of Control
          with respect to other peer executives of Fidelity Southern, the Bank
          or any Affiliate.

Section 4. Benefits Upon Termination of Employment.

     (a)  Provided the Executive executes a "Release" (as defined below) and
          does not revoke such Release, the Executive will be entitled to a
          Salary Continuance Benefit and a Welfare Continuance Benefit as
          hereafter set forth if (i) the Executive has a Termination of
          Employment by Fidelity Southern, the Bank or any Affiliate, other than
          for Cause, Disability or death, during the period commencing upon the
          Commencement Date and ending one year after a Change of Control
          ("Change of Control Period") or (ii) the Executive has a Termination
          of Employment by the Executive for Good Reason during the Change of
          Control Period. Any Termination of Employment by the Executive will be
          communicated by Notice of Termination to Fidelity Southern given in
          accordance with Section 23(b). For purposes of this Agreement, a
          "Notice of Termination" means a written notice which (i) indicates the
          specific termination provision in this Section relied upon; (ii) to
          the extent applicable, sets forth in reasonable detail the facts and
          circumstances claimed to provide a basis for the Termination of
          Employment under the provision so indicated and (iii), if applicable,
          indicates the date of the Termination of Employment, which shall not
          be less than 30 days and more than 60 days after the giving of such
          notice. The term "Release" means a general release that releases
          Fidelity Southern, the Bank, their Affiliates, shareholders,
          directors, officers, employees, employee benefit plans,
          representatives, and agents and their successors and assigns from any
          and all employment related claims the Executive or the Executive's
          successors and beneficiaries might then have against them (excluding
          any claims for vested benefits under any employee pension plan of
          Fidelity Southern, the Bank or the Affiliates).

     (b)  The Salary Continuance Benefit will be the excess of (i) the
          Executive's Final Compensation over (ii) the aggregate amount payable
          under Section 14. The Salary Continuance Benefit will be made net of
          all required

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          Federal and State withholding taxes and similar required withholdings
          and authorized deductions. The Salary Continuance Benefit shall be
          payable to the estate of the Executive upon the death of the Executive
          after the amounts become payable. If the Executive is not a Specified
          Employee, the Salary Continuance Benefit will be payable in 24 equal
          semi-monthly installments commencing on the 15th or last day of the
          month immediately following the date of the Termination of Employment,
          whichever date occurs first, and then continuing on the 15th and last
          day of each calendar month thereafter until all such installments are
          paid. If the Executive is a Specified Employee, the Salary Continuance
          Benefit shall not be payable until the first 15th or last day of the
          month which is at least six months after the Executive's Termination
          of Employment. All installments, which would have otherwise been
          required to be made over such six-month period if the Executive had
          not been a Specified Employee, shall be paid to the Executive in one
          lump sum payment as soon as administratively feasible after the first
          15th or last day of the month which is at least six months after the
          Executive's Termination of Employment. After the lump sum payment, the
          remaining semi-monthly installments (each equal to 1/24 of the Salary
          Continuance Benefit) will continue on the 15th and last day of each
          calendar month until all such installments are paid.

     (c)  During the Severance Period, the Executive and the Executive's
          Dependents will continue to be covered by all Welfare Plans in which
          the Executive or Dependents were participating immediately prior to
          the date of the Executive's Termination of Employment, subject to the
          eligibility requirements of such Welfare Plans on the date of the
          Termination of Employment (the "Welfare Continuance Benefit"). Any
          changes to any Welfare Plan during the Severance Period will be
          applicable to the Executive and his Dependents as if he continued to
          be an employee of Fidelity Southern, the Bank or any Affiliate.
          Fidelity Southern or the Bank will pay, or they shall cause an
          Affiliate to pay, all or a portion of the cost of the Welfare
          Continuance Benefit for the Executive and his Dependents under the
          Welfare Plans on the same basis as applicable, from time to time, to
          active employees covered under the Welfare Plans and the Executive
          will pay any additional costs comparable to those costs paid by active
          executives. If such participation in any one or more of the Welfare
          Plans included in the Welfare Continuance Benefit is not possible
          under the terms of the Welfare Plan or any provision of law would
          create any adverse tax effect for the Executive or Fidelity Southern,
          the Bank or any Affiliate due to such participation, Fidelity Southern
          or the Bank will provide, or will cause an Affiliate to provide,
          substantially identical benefits directly or through an insurance
          arrangement or pay the Executive's costs for such Welfare Plan if
          continued by the Executive, including as permitted under ERISA. The
          Welfare Continuance Benefit as to any Welfare Plan will cease if and
          when the Executive has obtained coverage under one or more welfare
          benefit plans of a subsequent

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          employer that provide for equal or greater benefits to the Executive
          and his Dependents with respect to the specific type of benefit
          provided under the applicable Welfare Plan. Notwithstanding any other
          provision of this Section 4(c), if the Executive is a Specified
          Employee and if Fidelity determines that any portion of the Welfare
          Benefit is subject to Section 409A of the Code, then to the extent
          necessary to avoid taxation under Section 409A, the Executive will be
          required to pay for the Welfare Benefit during the six-month period
          following his Termination of Employment; provided; however, that at
          the end of such six-month period, Fidelity will reimburse the
          Executive for such payments.

     (d)  Fidelity Southern shall maintain the Individual Life Insurance Policy
          after the Executive's Termination of Employment only if such
          termination is due to retirement (as such term is determined by the
          Board). Notwithstanding the previous sentence, if the Executive is a
          Specified Employee and if Fidelity determines that the maintenance of
          the Individual Life Insurance Policy is subject to Section 409A of the
          Code, then to the extent necessary to avoid taxation under Section
          409A, the Executive will be required to pay for the maintenance of the
          Individual Life Insurance Policy during the six-month period following
          his Termination of Employment; provided; however, that at the end of
          such six-month period, Fidelity will reimburse the Executive for such
          payments.

     (e)  If the Executive violates any of the undertakings set forth in
          Sections 10, 11, 12 and 13 of this Agreement after the Termination of
          Employment, any additional compensation and benefits under this
          Section 4 shall cease; except that the benefits under Section 4(d)
          shall continue to be available under the terms of the Individual Life
          Insurance Policy to the extent set forth in Section 4(d).

     (f)  (i)  Fidelity Southern shall engage the independent accounting firm
               regularly utilized by Fidelity Southern ("Accounting Firm") to
               provide to Fidelity Southern and the Executive, at Fidelity
               Southern's expense, a determination of whether any
               compensation payable to the Executive pursuant to this
               Agreement (alone or when added to all other compensation paid
               or payable to the Executive by Fidelity, the Bank or any
               Affiliate) during the Severance Period constitutes a
               "parachute payment" ("Parachute Payment") as defined in
               Section 280G of the Internal Revenue Code of 1986, as amended
               (the "Code"). If the Accounting Firm determines that any such
               compensation payable to the Executive constitutes a Parachute
               Payment, the Accounting Firm shall also determine: (A) the
               amount of the excise tax to be imposed under Section 4999 of
               the Code; (B) whether the Executive would realize a greater
               amount after Federal and Georgia income taxes (assuming the
               highest marginal rates then in effect apply) if such

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               compensation payable to the Executive were reduced (assuming
               latest payments are reduced first) so that no amount payable to
               the Executive hereunder (alone or when added to all other
               compensation paid or payable to the Executive by Fidelity, the
               Bank or any Affiliate) constitutes a Parachute Payment than the
               Executive would realize after Federal and Georgia income taxes
               (assuming the highest marginal rates then in effect apply) and
               after imposition of the excise tax under Section 4999 of the Code
               if the amounts payable to the Executive hereunder were not so
               reduced and (C), if the Accounting Firm determines in (B) above
               that the Executive would realize a higher amount if the
               compensation payable to the Executive were so reduced, the amount
               of the reduced benefit. All determinations shall be made on a
               present value basis. The Accounting Firm shall provide to
               Fidelity Southern and to the Executive a written report of its
               calculations and determinations hereunder as soon as practicable.
               No later than fifteen (15) days following receipt by the
               Executive of the report from the Accounting Firm, the Executive
               will notify Fidelity Southern in writing of any disagreement with
               said report, and, in such case, Fidelity Southern shall direct
               the Accounting Firm to promptly discuss its determinations with
               an accountant or other counsel designated by the Executive in the
               Executive's written notice and seek to reach an agreement
               regarding same no later than fifteen (15) days after receipt of
               the Executive's notice, with Fidelity Southern and the Executive,
               each bearing the cost of their own accountants, counsel and other
               advisers. If no agreement can be reached, the matter shall be
               promptly submitted to binding arbitration under the rules of the
               American Arbitration Association before a single arbitrator in
               Atlanta, Georgia. The determinations so made shall be binding on
               the parties. If it is determined hereunder that the Executive
               would realize a greater amount after Federal and Georgia income
               taxes (assuming the highest marginal rates then in effect apply)
               if the compensation payable to the Executive pursuant to this
               Agreement were reduced (assuming latest payments are reduced
               first) so that no amount payable to the Executive hereunder
               constitutes a Parachute Payment, then the amounts payable to the
               Executive pursuant to this Agreement shall be so reduced.

          (ii) As a result of the uncertainty in the application of Sections
               280G and 4999 of the Code, it is possible that amounts will have
               been paid or distributed to the Executive that should not have
               been paid or distributed under this Section 4(f)
               ("Overpayments"), or that additional amounts should be paid or
               distributed to the Executive under this Section 4(f)
               ("Underpayments"). If based on either the assertion of a
               deficiency by the Internal Revenue Service against Fidelity or
               the Executive, which assertion has a high probability of

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               success, or controlling precedent or substantial authority, an
               Overpayment has been made, that Overpayment will be treated for
               all purposes as a loan ab initio that the Executive must repay to
               Fidelity immediately together with interest at the applicable
               Federal rate under Section 7872 of the Code; provided, however,
               that no loan will be deemed to have been made and no amount will
               be payable by the Executive to Fidelity unless, and then only to
               the extent that, the deemed loan and payment would either reduce
               the amount on which the Executive is subject to tax under Section
               4999 of the Code or generate a refund of tax imposed under
               Section 4999 of the Code. If based upon controlling precedent or
               substantial authority, an Underpayment has occurred, the amount
               of that Underpayment will be paid to the Executive promptly by
               Fidelity. Whether an Overpayment or Underpayment has occurred may
               be determined in substantially the same manner as the original
               determination.

          (iii) Fidelity and the Executive shall each provide the Accounting
               Firm access to and copies of any books, records and documents in
               the possession of Fidelity or the Executive, as the case may be,
               reasonably requested by the Accounting Firm, and otherwise
               cooperate with the Accounting Firm in connection with the
               preparation and issuance of the determinations and calculations
               contemplated by this Section 4(f).

          (iv) The federal, state and local income or other tax returns filed by
               the Executive shall be prepared and filed on a consistent basis
               with the determination with respect to the excise tax payable by
               the Executive. The Executive, at the request of Fidelity, shall
               provide Fidelity true and correct copies (with any amendments) of
               his federal income tax return as filed with the Internal Revenue
               Service and corresponding state and local tax returns, if
               relevant, as filed with the applicable taxing authority, and such
               other documents reasonably requested by Fidelity, evidencing such
               conformity.

Section 5. Outplacement Services.

If the Executive is entitled to a Severance Benefit under Section 4, the
Executive also will be entitled in addition to receive complete outplacement
services, including job search, interview skill services, job retaining and
education and resume preparation, paid by Fidelity Southern up to a total cost
of $20,000. The services will be provided by a nationally or regionally
recognized outplacement organization selected by the Executive with the approval
of Fidelity Southern (which approval will not be unreasonable withheld). The
services will be provided for up to two (2) years after the Executive's
Termination of Employment or until the Executive obtains full-time employment,
whichever occurs first.

                                       12

<PAGE>

Section 6. Death.

If the Executive dies while receiving a Welfare Continuation Benefit, the
Executive's Dependents will continue to be covered under all applicable Welfare
Plans during the remainder of the Severance Period.

Section 7. Setoff.

     (a)  Except as otherwise provided in Section 7(c) below, payment of a
          Severance Benefit will be in addition to any other amounts otherwise
          then currently payable to the Executive, including any accrued but
          unpaid vacation pay or deferred compensation. No payments or benefits
          payable to or with respect to the Executive pursuant to this Agreement
          will be reduced by any amount the Executive may earn or receive from
          employment with another employer or from any other source. In no event
          will the Executive be obligated to seek other employment or take any
          other action by way of mitigation of the amounts payable to the
          Executive under any of the provisions of this Agreement and, except as
          provided in the last sentence of Section 4(c) with respect to the
          Welfare Continuation Benefit or in Section 5 with respect to
          outplacement services, such amounts will not be reduced whether or not
          the Executive obtains other employment.

     (b)  Nothing in this Agreement will limit or otherwise affect such rights
          as the Executive may have under any other contract or agreement with
          Fidelity Southern, the Bank or Affiliates. Amounts which constitute
          vested benefits or which the Executive is otherwise entitled to
          receive under any plan, policy, practice or program of or any contract
          or agreement (collectively, "programs") with Fidelity Southern, the
          Bank or Affiliates at or subsequent to the Executive's Termination of
          Employment will be payable in accordance with such program.

     (c)  The total amount payable hereunder for Salary Continuance Benefits and
          consideration for the non-compete, non-solicitation and non-disclosure
          provisions (as set forth in Section 14) shall not exceed the
          Executive's Final Compensation. Fidelity Southern, the Bank or an
          Affiliate and the Executive may be parties to other agreements,
          policies, plans, programs or arrangements relating to the Executive's
          employment. This Agreement shall be construed and interpreted so that
          the Salary Continuance Benefit, Welfare Continuance Benefit and other
          payments (including, but not limited to, payments described in Section
          14 below) hereunder are paid or made available only to the extent that
          similar amounts are not paid or made available to the Executive under
          any other similar agreements, policies, plans, programs or
          arrangements. Without limiting the foregoing, any Salary Continuance
          Benefit, Welfare Continuance Benefit and other payments (including,
          but not limited to, payments described in Section 14 below) payable
          under this Agreement shall be reduced by any

                                       13

<PAGE>

          other compensation, severance pay, continued welfare benefits,
          non-compete payments or other similar amounts that the Executive
          receives under any employment or employment-related agreement with
          Fidelity Southern, the Bank or any Affiliate and under any other
          similar agreements, policies, plans, programs or arrangements covering
          the Executive with respect to Fidelity Southern, the Bank or any
          Affiliate; it being the intent of both the Executive and Fidelity
          Southern, the Bank or any Affiliate not to provide to the Executive
          any duplicative payments, severance pay or welfare benefits hereunder.

     (d)  To the extent that federal, state or local law requires Fidelity
          Southern, the Bank or an Affiliate to provide notice and/or make a
          payment to the Executive because of an involuntary Termination of
          Employment, the severance pay available under this Agreement for
          periods for which the Executive is not required to report to work
          shall be reduced, but not below zero, by the amount of any such
          mandated payments.

Section 8. No Interest in Benefit.

No interest of the Executive or any Beneficiary, or any right to receive any
payment or distribution hereunder, will be subject in any manner to sale,
transfer, assignment, pledge, attachment, garnishment or other alienation or
encumbrance of any kind, nor may such interest or right to receive a payment or
distribution be taken, voluntarily or involuntarily, for the satisfaction of the
obligation or debts of, or other claims against, the Executive or Beneficiary,
including claims for alimony, support, separate maintenance, and claims in
bankruptcy proceedings.

Section 9. Benefits Unfunded.

All rights under this Agreement of the Executive and Beneficiaries will at all
times be entirely unfunded, and no provision will at any time be made with
respect to segregating any assets of Fidelity or any Affiliate for payment of
any amounts due hereunder. The Executive and Beneficiaries will have only the
rights of general unsecured creditors of Fidelity.

Section 10. Covenant Not to Compete.

The Executive agrees that during his employment with Fidelity Southern or the
Bank and for a period of twelve (12) months after the Executive's Termination of
Employment with Fidelity Southern or the Bank for any reason, that the Executive
shall not, on his own behalf or on another's behalf, work in any management or
executive capacity in the business of providing banking or banking related
services. This restriction shall apply only within a 50-mile radius of 3490
Piedmont Road, Atlanta, Georgia 30305. The Executive agrees that because of the
nature of Fidelity Southern's and the Bank's business, the nature of the
Executive's job responsibilities, and the nature of the Confidential Information
and Trade Secrets of Fidelity Southern and the Bank which Fidelity Southern and
the Bank will give the Executive access to, any breach of this

                                       14

<PAGE>

provision by the Executive would result in the inevitable disclosure of Fidelity
Southern's and the Bank's Trade Secrets and Confidential Information to its
direct competitors.

Section 11. Non-Solicitations of Customers.

Executive agrees that during his employment with Fidelity Southern or the Bank
and for a period of twelve (12) months after the Executive's Termination of
Employment with Fidelity Southern or the Bank for any reason, the Executive will
not will not directly or indirectly solicit, contact, call upon, communicate
with or attempt to communicate with any client or customer of Fidelity Southern
or the Bank for the purpose of providing banking or banking related services.
This restriction shall apply only to any client or customer of Fidelity Southern
or the Bank with whom the Executive had material contact during the last twelve
months of the Executive's employment with Fidelity Southern or the Bank.
"Material contact" means interaction between the Executive and the client or
customer which takes place to further the business relationship. "Clients" and
"customers" include, but are not limited to, depositors and commercial loan
customers.

Section 12. Non-Solicitations of Employees.

The Executive agrees that during his employment with Fidelity Southern or the
Bank and for a period of twelve (12) months after the Executive's Termination of
Employment with Fidelity Southern or the Bank for any reason, the Executive will
not recruit, hire or attempt to recruit or hire, directly or by assisting
others, any other employee of Fidelity Southern or the Bank with whom the
Executive had material contact during the Executive's employment with Fidelity
Southern or the Bank. This restriction shall apply only to recruiting, hiring or
attempting to recruit or hire any employee for the purpose of working in the
business of providing banking or banking related services.

Section 13. Confidentiality, Proprietary Information and Inventions.

     (a)  During the term of the Executive's employment with Fidelity Southern
          or the Bank, and at all times thereafter, the Executive shall not use
          or disclose to others, without the prior written consent of Fidelity
          Southern and the Bank, any Trade Secrets (as hereinafter defined) of
          Fidelity Southern or the Bank, or any Affiliate or any of their
          customers, except for use or disclosure thereof in the course of the
          business of Fidelity Southern or the Bank (or that of any Affiliate),
          and such disclosure shall be limited to those who have a need to know.

     (b)  During the term of the Executive's employment with Fidelity Southern
          or the Bank, and for twelve (12) months after the Executive's
          Termination of Employment with Fidelity Southern or the Bank for any
          reason, the Executive shall not use or disclose to others, without the
          prior written consent of Fidelity Southern and the Bank, any
          Confidential Information (as hereinafter defined) of Fidelity Southern
          or the Bank, or any Affiliate or any of their customers, except for
          use or disclosure thereof in the course

                                       15

<PAGE>

          of the business of Fidelity Southern or the Bank (or that of any
          Affiliate), and such disclosure shall be limited to those who have a
          need to know.

     (c)  Upon a Termination of Employment with Fidelity Southern or the Bank
          for any reason, the Executive shall not take with him any documents or
          data of Fidelity Southern or the Bank or any Affiliate or of any
          customer thereof or any reproduction thereof and agrees to return any
          such documents and data in his possession at that time.

     (d)  The Executive agrees to take reasonable precautions to safeguard and
          maintain the confidentiality and secrecy and limit the use of all
          Trade Secrets and Confidential Information of Fidelity Southern, the
          Bank and all subsidiaries and customers thereof.

     (e)  Trade Secrets shall include only such information constituting a
          "Trade Secret" within the meaning of subsection 10-1-761(4) of the
          Georgia Trade Secrets Act of 1990, including as hereafter amended.
          Confidential Information shall include all information and data which
          is protectable as a legal form of property or non-public information
          of Fidelity Southern or the Bank or their customers, excluding any
          information or data which constitutes a Trade Secret.

     (f)  Trade Secrets and Confidential Information shall not include any
          information (A) which becomes publicly known through no fault or act
          of the Executive; (B) is lawfully received by the Executive from a
          third party after a Termination of Employment without a similar
          restriction regarding confidentiality and use and without a breach of
          this Agreement or (C) which is independently developed by the
          Executive and entirely unrelated to the business of providing banking
          or banking related services.

     (g)  The Executive agrees that any and all information and data originated
          by the Executive while employed by Fidelity Southern or the Bank and,
          where applicable, by other employees or associates under the
          Executive's direction or supervision in connection with or as a result
          of any work or service performed under the terms of the Executive's
          employment, shall be promptly disclosed to Fidelity Southern and the
          Bank, shall become Fidelity Southern and/or the Bank's property, and
          shall be kept confidential by the Executive. Any and all such
          information and data, reduced to written, graphic or other tangible
          form and any and all copies and reproduction thereof shall be
          furnished to Fidelity Southern and the Bank upon request and in any
          case shall be returned to Fidelity Southern and the Bank upon the
          Executive's Termination of Employment with Fidelity Southern or the
          Bank.

     (h)  The Executive agrees that the Executive will promptly disclose to
          Fidelity Southern and the Bank all inventions or discoveries made,
          conceived or for the first time reduced to practice in connection with
          or as a result of the

                                       16

<PAGE>

          work and/or services the Executive performs for Fidelity Southern or
          the Bank.

     (i)  The Executive agrees that he will assign the entire right, title and
          interest in any such invention or inventions and any patents that may
          be granted thereon in any country in the world concerning such
          inventions to Fidelity Southern and the Bank. The Executive further
          agrees that the Executive will, without expense to Fidelity Southern
          or the Bank, execute all documents and do all acts which may be
          necessary, desirable or convenient to enable Fidelity Southern and the
          Bank, at its expense, to file and prosecute applications for patents
          on such inventions, and to maintain patents granted thereon.

Section 14. Consideration for Non-Compete, Non-Solicitation and Non-Disclosure
     Provisions.

In consideration of the Executive's undertakings set forth in Sections 10, 11,
12 and 13 above, with respect to periods after a Termination of Employment,
Fidelity Southern or the Bank will pay the Executive the Non-Compete Benefit. If
the Executive is not a Specified Employee, the Non-Compete Benefit will be
payable in 24 equal semi-monthly installments, each installment in an amount
equal to forty percent (40%) of his Annual Base Salary in effect immediately
prior to the Termination of Employment divided by 24, commencing on the 15th or
last day of the month immediately following the date of the Termination of
Employment, whichever date occurs first, and then continuing on the 15th and
last day of each calendar month thereafter until all such installments are paid.
If the Executive is a Specified Employee, the Non-Compete Benefit shall not
become payable until the first 15th or last day of the month which is at least
six months after the Executive's Termination of Employment. All installments,
which would have otherwise been required to be made over such six-month period
if the Executive had not been a Specified Employee, shall be paid to the
Executive in one lump sum payment as soon as administratively feasible after the
first 15th or last day of the month which is at least six months after the
Executive's Termination of Employment. After the lump sum payment, the remaining
semi-monthly installments (each equal to forty percent (40%) of the Executive's
Annual Base Salary in effect immediately prior to the Termination of Employment
divided by 24) will continue on the 15th and last day of each calendar month
until all such installments are paid. If the Executive violates any of the
undertakings set forth in Sections 10, 11, 12 and 13 of this Agreement, the
Executive waives and forfeits any and all rights to any further payments under
this Agreement, including but not limited to, any additional payments,
compensation or Severance Benefits he may otherwise be entitled to receive under
this Agreement.

Section 15. Specific Performance.

Because of the Executive's knowledge and experience, the Executive agrees that
Fidelity Southern, the Bank and Affiliates shall be entitled to specific
performance, an injunction, temporary injunction or other similar equitable
relief in addition to all other rights and remedies it might have for any
violation of the undertakings set forth in Sections 10, 11,

                                       17

<PAGE>

12 or 13 of this Agreement. In any such court proceeding or arbitration, the
Executive will not object thereto and claim that monetary damages are an
adequate remedy.

Section 16. Indemnification of the Executive.

Fidelity Southern, the Bank or Affiliates shall indemnify the Executive and
shall advance reasonable reimbursable expenses incurred by the Executive in any
proceeding against the Executive, including a proceeding brought in the right of
Fidelity Southern, the Bank or any Affiliate, as a director or officer of
Fidelity Southern, the Bank or any Affiliate thereof, except claims and
proceedings brought directly by Fidelity Southern, the Bank or any Affiliate
against the Executive, to the fullest extent permitted under the Georgia
Business Corporation Code, and the Articles of Incorporation and By-Laws of
Fidelity Southern, the Bank or any applicable Affiliate, as such Code, Articles
or By-Laws may be amended from time to time hereafter. Such indemnities and
advances shall be paid to the Executive on the next normal payroll payment date
after the Executive's rights to such amounts are no longer in dispute; provided,
however, that if the Executive is a Specified Employee such payments shall not
be made before the date that is six months after the date of the Executive's
Termination of Employment.

Section 17. Applicable Law.

This Agreement will be construed and interpreted in accordance with the laws of
the State of Georgia without reference to its conflict of laws rules.

Section 18. No Employment Contract.

Nothing contained in this Agreement shall be construed to be an employment
contract between the Executive and Fidelity.

Section 19. Severability.

In the event any provision of this Agreement is held illegal or invalid, the
remaining provisions of this Agreement will not be affected thereby.

Section 20. Successors.

     (a)  The Agreement will be binding upon and inure to the benefit of
          Fidelity Southern, the Bank, Affiliates, the Executive and their
          respective heirs, representatives and successors.

     (b)  Fidelity Southern and the Bank will require any successor (whether
          direct or indirect, by purchase, merger, consolidation or otherwise)
          to all or substantially all of the business and/or assets of Fidelity
          Southern, the Bank or Affiliates, as the case may be, to assume
          expressly and agree to perform this Agreement in the same manner and
          to the same extent that Fidelity Southern and the Bank would be
          required to perform it if no such succession had taken place. As used
          in this Agreement, "Fidelity Southern" will mean Fidelity Southern as
          herein defined and any

                                       18

<PAGE>

          successor to its business and/or assets which assumes this Agreement
          by operation of law or otherwise.

Section 21. Litigation Expenses.

     (a)  Fidelity Southern and the Bank agree to pay or reimburse the Executive
          promptly as incurred, to the full extent permitted by law, all legal
          fees and expenses which the Executive may reasonably incur as a result
          of any contest (regardless of the outcome thereof unless a court of
          competent jurisdiction determines that the Executive acted in bad
          faith in initiating the contest) by Fidelity Southern, the Bank, any
          Affiliate, the Executive or others regarding the validity or
          enforceability of, or liability under, any provision of this Agreement
          (including as a result of any contest by the Executive about the
          amount of any payment pursuant to this Agreement), plus in each case
          interest on any delayed payment at the applicable Federal rate
          provided for in the Internal Revenue Code Section 7872 (f)(2)(A);
          provided however, that the reasonableness of the fees and expenses
          must be determined by an independent arbitrator, using standard legal
          principles, mutually agreed upon by Fidelity Southern or the Bank, as
          the case may be, and the Executive in accordance with rules set forth
          by the American Arbitration Association. Such payments and
          reimbursements shall be paid to the Executive or on the Executive's
          behalf on or by the next normal payroll payment date after the
          Executive's rights to such amounts are no longer in dispute; provided,
          however, that if the Executive is a Specified Employee such payments
          shall not be made before the date that is six months after the date of
          the Executive's Termination of Employment.

     (b)  If there is any dispute between Fidelity Southern, the Bank or any
          Affiliate and the Executive, in the event of any Termination of
          Employment by Fidelity Southern, the Bank or Affiliate or by the
          Executive, then, unless and until there is a final, nonappealable
          judgment by a court of competent jurisdiction declaring that the
          Executive is not entitled to benefits under this Agreement, Fidelity
          will pay or cause to be paid all amounts, and provide all benefits, to
          the Executive and/or the Executive's family or other Beneficiaries, as
          the case may be, that Fidelity or any Affiliate would be required to
          pay or provide pursuant to this Agreement. Fidelity Southern, the Bank
          and Affiliates will not be required to pay any disputed amounts
          pursuant to this subsection except upon receipt of an undertaking
          (which may be unsecured) by or on behalf of the Executive to repay all
          such amounts to which the Executive is ultimately adjudge by such
          court not to be entitled.

Section 22. Future Employers.

Fidelity Southern, the Bank or any Affiliate may notify anyone employing the
Executive or evidencing an intention to employ the Executive as to the existence
and provisions of

                                       19

<PAGE>

this Agreement and may provide any such person or organization a copy of this
Agreement. The Executive agrees that for a period of twelve (12) months after
the Executive's Termination of Employment with Fidelity Southern or the Bank for
any reason, the Executive will provide Fidelity Southern and the Bank the
identity of any employer the Executive goes to work for along with the
Executive's job title and anticipated job duties with such employer.

Section 23. Miscellaneous.

     (a)  Amendments/Waivers. No provision of this Agreement may be modified,
          waived or discharged unless such waiver, modification or discharge is
          agreed to in writing and the writing is signed by the Executive and
          Fidelity Southern and the Bank. A waiver of any breach of or
          compliance with any provision or condition of this Agreement is not a
          waiver of similar or dissimilar provisions or conditions. This
          Agreement may be executed in one or more counterparts, all of which
          will be considered one and the same agreement.

     (b)  Notices. All notices, requests, demands and other communications
          required or permitted hereunder shall be in writing and shall be
          deemed to have been given upon receipt when delivered by hand or upon
          delivery to the address of the party determined pursuant to this
          Section 23 when delivered by express mail, overnight courier or other
          similar method to such address or by facsimile transmission (provided
          a copy is also sent by registered or certified mail or by overnight
          courier), or five (5) business days after deposit of the notice in the
          US mail, if mailed by certified or registered mail, with postage
          prepaid addressed to the respective party as set forth below, which
          address may be changed by written notice to the other parties:

          If to Fidelity Southern or the Bank:
               Fidelity Southern Corporation
               3490 Piedmont Road
               Suite 1550
               Atlanta, Georgia 30305
               Attn: Chief Executive Officer

          If to the Executive:
               David Buchanan
               895 Whitehawk Trail
               Lawrenceville, Georgia 30043

     (c)  Confidentiality. The Executive agrees that the Executive will not
          discuss the Executive's employment and resignation or termination
          (including the terms of this Agreement) with any representatives of
          the media, either directly or indirectly, without the prior written
          consent and approval of Fidelity Southern and the Bank.

                                       20

<PAGE>

Section 24. Entire Agreement.

No agreement or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof have been made by a party which is not
expressly set forth in this Agreement. This Agreement sets forth the entire
understanding of the parties with respect to the subject matter hereof.

Section 25. Compliance with Section 409A.

This Agreement is intended to satisfy the requirements of Code Section 409A and
shall be construed and interpreted in accordance therewith.

                                       21

<PAGE>

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

                                        FIDELITY SOUTHERN CORPORATION

                                        By: /s/ James B. Miller, Jr.
                                            ------------------------------------
                                        Name: James B. Miller, Jr.
                                        Title: Chairman

                                        FIDELITY BANK

                                        By: /s/ Palmer Proctor
                                            ------------------------------------
                                        Name: Palmer Proctor
                                        Title: President

                                        EXECUTIVE

                                        /s/ David Buchanan
                                        ----------------------------------------
                                        David Buchanan

                                       22<PAGE>
                                                                    Exhibit 10.7

                              AMENDED AND RESTATED

                          FIDELITY SOUTHERN CORPORATION

                     SUPPLEMENTAL DEFERRED COMPENSATION PLAN

           (Effective As of October 1, 1996, and Amended and Restated
                               As of November 15, 2005)

<PAGE>

                              AMENDED AND RESTATED
                          FIDELITY SOUTHERN CORPORATION
                     SUPPLEMENTAL DEFERRED COMPENSATION PLAN

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                        <C>
ARTICLE I INTRODUCTION AND ESTABLISHMENT...............................      I-1

ARTICLE II DEFINITIONS.................................................     II-1
   2.1  "Account"......................................................     II-1
   2.2  "Anniversary Date".............................................     II-1
   2.3  "Beneficiary"..................................................     II-1
   2.4  "Board"........................................................     II-1
   2.5  "Code".........................................................     II-1
   2.6  "Company"......................................................     II-1
   2.7  "Compensation".................................................     II-1
   2.8  "Deferral Subaccount"..........................................     II-1
   2.9  "Election Form"................................................     II-1
   2.10 "Employee".....................................................     II-2
   2.11 "Employer".....................................................     II-2
   2.12 "Employer Credit Subaccount"...................................     II-2
   2.13 "ERISA"........................................................     II-2
   2.14 "401(k) Plan"..................................................     II-2
   2.15 "Participant"..................................................     II-2
   2.16 "Plan".........................................................     II-2
   2.17 "Plan Administrator"...........................................     II-2
   2.18 "Plan Year"....................................................     II-2
   2.19 "Section 401(a)(17) Limitation"................................     II-2
   2.20 "Valuation Date"...............................................     II-2

ARTICLE III PARTICIPATION..............................................    III-1
   3.1  Eligibility to Participate.....................................    III-1
   3.2  Deferral Election..............................................    III-1
   3.3  Time and Manner of Initial Election............................    III-1
   3.4  Change of Election.............................................    III-2

ARTICLE IV INTEREST OF PARTICIPANTS....................................     IV-1
   4.1  Accounting for Participants' Interests.........................     IV-1
   4.2  Vesting of a Participant's Account.............................     IV-1
   4.3  Distribution of a Participant's Account........................     IV-1
</TABLE>

<PAGE>

<TABLE>
<S>                                                                       <C>
ARTICLE V PLAN ADMINISTRATOR...........................................      V-1
   5.1  Members........................................................      V-1
   5.2  Action.........................................................      V-1
   5.3  Right and Duties...............................................      V-1
   5.4  Compensation, Indemnity and Liability..........................      V-2
   5.5  Taxes..........................................................      V-2

ARTICLE VI CLAIMS PROCEDURE............................................     VI-1
   6.1  Claims for Benefits............................................     VI-1
   6.2  Appeals........................................................     VI-1

ARTICLE VII AMENDMENT AND TERMILNATION.................................    VII-1
   7.1  Amendments.....................................................    VII-1
   7.2  Termination of Plan............................................    VII-1

ARTICLE VIII MISCELLANEOUS.............................................   VIII-1
   8.1  Limitation on Participant's Rights.............................   VIII-1
   8.2  Benefits Unfunded..............................................   VIII-1
   8.3  Other Plans....................................................   VIII-1
   8.4  Receipt or Release.............................................   VIII-1
   8.5  Governing Law..................................................   VIII-2
   8.6  Adoption of Plan by Related Employers..........................   VIII-2
   8.7  Gender, Tense, and Headings....................................   VIII-2
   8.8  Successors and Assigns; Nonalienation of Benefits..............   VIII-2
</TABLE>

<PAGE>

                                    ARTICLE I

                         INTRODUCTION AND ESTABLISHMENT

      Fidelity Southern Corporation (the "Company") hereby establishes the
Fidelity Southern Corporation Supplemental Deferred Compensation Plan (the
"Plan") for the benefit of certain management and highly compensated employees
of the Company and affiliated adopting employers, as such employees are selected
by the Board of Directors of the Company. The Plan provides supplemental
benefits for eligible employees whose benefits under the Fidelity Southern
Corporation Tax Deferred 401(k) Savings Plan are limited by the provisions of
the Internal Revenue Code of 1986, as amended, (the "Code") or the Employee
Retirement Income Security Act of 1974, as amended. The Plan shall originally be
effective as of October 1, 1996, and shall be amended and restated as of
November 15, 2005; provided that for purposes of the Plan's compliance with the
requirements of Code Section 409A, the amendments effected by this amendment and
restatement are intended to be retroactively effective as of January 1, 2005.

                                      I-1

<PAGE>

                                   ARTICLE II

                                   DEFINITIONS

     When used in this Plan, the following terms shall have the meanings set
forth below unless a different meaning is plainly required by the context:

     2.1 "Account" means the records maintained by the Plan Administrator to
determine each Participant's interest under this Plan. Such Account may be
reflected as an entry in the Employer's records, or as a separate account under
any trust established to provide benefits under the Plan, or as a combination of
both. Each Participant's Account shall consist of at least two subaccounts: a
Deferral Subaccount and an Employer Credit Subaccount. The Plan Administrator
may establish such additional subaccounts as it deems necessary for the proper
administration of the Plan.

     2.2 "Anniversary Date" means the last day of each Plan Year.

     2.3 "Beneficiary" means the person or persons last designated in writing by
the Participant to receive the amount in his Account in the event of such
Participant's death; or if no designation shall be in effect at the time of a
Participant's death or if all designated Beneficiaries shall have predeceased
the Participant, then the Beneficiary shall be the following, in the order
listed:

          (a)  Such Participant's surviving spouse, if any;

          (b)  Otherwise, the Participant's estate.

     2.4 "Board" means the Board of Directors of the Company.

     2.5 "Code" means the Internal Revenue Code of 1986, as amended.

     2.6 "Company" means Fidelity Southern Corporation, or its successor or
successors.

     2.7 "Compensation" means "Compensation" as that term is defined in the
401(k) Plan, as the same may be amended from time to time, but without regard to
the Section 401(a)(17) Limitation. Compensation shall also include amounts
deferred by the Employee under this Plan or other deferred compensation plans of
the Employer (except to the extent specified by the Employer).

     2.8 "Deferral Subaccount" means the subaccount of a Participant's Account
maintained to reflect the Participant's interest in the Plan attributable to his
deferrals of Compensation and earnings or losses credited to such account.

     2.9 "Election Form" means the form prescribed by the Plan Administrator on
which a Participant may specify the amount of his Compensation that is to be
deferred pursuant to the provisions of Article III.

                                      II-1

<PAGE>

     2.10 "Employee" means any management or highly compensated employee of an
Employer.

     2.11 "Employer" means the Company and each affiliated employer which has
adopted the Plan with the consent of the Company.

     2.12 "Employer Credit Subaccount" means the subaccount of a Participant's
Account maintained to reflect the Participant's interest in the Plan
attributable to the Employer's contribution credits, and any earnings or losses
credited to such account.

     2.13 "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended.

     2.14 "401(k) Plan" means the Fidelity Southern Corporation Tax Deferred
401(k) Savings Plan, as it may be amended from time to time. Any reference
herein to a provision or term of the 401(k) Plan shall mean such provision or
term as it may be amended from time to time.

     2.15 "Participant" means any eligible Employee who has satisfied the
requirements for participation in this Plan and who has an Account.

     2.16 "Plan" means the Fidelity Southern Corporation Supplemental Deferred
Compensation Plan, as it may be amended from time to time.

     2.17 "Plan Administrator" means the committee or individual appointed
pursuant to the provisions of this Plan to administer the Plan. In the absence
of such appointment, the Company shall be the Plan Administrator.

     2.18 "Plan Year" means the 12-month period January 1 to December 31,
provided that the first Plan Year shall begin October 1, 1996 and end December
31, 1996.

     2.19 "Section 401(a)(17) Limitation" means the limitation on an Employee's
compensation that may be used for benefit calculation purposes in the 401(k)
Plan and that is set forth in Code Section 401(a)(17), as it may be increased
from time to time in accordance with applicable IRS rules.

     2.20 "Valuation Date" means the annual valuation date, December 31, and any
other date(s) selected by the Plan Administrator, in its sole discretion, as of
which the Accounts of Participants are valued.

                                      II-2

<PAGE>

                                  ARTICLE III

                                  PARTICIPATION

     3.1 Eligibility to Participate. The Board or its designee shall specify the
Employees of the Employer who are eligible to participate in the Plan and the
effective date and period of each such Employee's eligibility to participate.
Such eligibility designation may be made by establishing a minimum compensation
level for participation or by the use of such other criteria as the Board deems
appropriate from time to time. An Employee designated as eligible to participate
shall become a Participant on the eligibility date specified by the Board in its
discretion, provided in all instances that the Employee completes the Election
Form provided for in Section 3.3 below. A Participant shall continue to be
eligible to participate in the Plan until the Board determines he is no longer
eligible.

     3.2 Deferral Election. Each Participant may elect to defer under the Plan
any whole percentage of his Compensation in the manner described in Section 3.3
or Section 3.4, as applicable. The amount deferred by the Participant shall be
deducted each pay period in which the Participant has Compensation during his
period of participation in the Plan.

     3.3 Time and Manner of Initial Election. An eligible Employee desiring to
exercise a deferral election upon becoming eligible to participate in the Plan
shall, prior to the beginning of the first Plan Year in which the eligible
Employee will be participating in the Plan (or, if later, the thirtieth (30th)
day after his initial eligibility to participate in any account balance plan of
the Employer, determined in accordance with Code Section 409A), complete an
Election Form indicating: (a) the percentage of Compensation to be deferred
under the Plan, (b) whether distributions of the eligible Employee's Account are
to be made in a lump sum or in substantially equal annual installments over a
period of years, (c) if the eligible Employee has elected distributions in
installments, the number of such installments (not to exceed 15), and (d) if the
eligible Employee elects to have distributions of his Account commence at a date
other than his termination of service with the Employer, the date that
distributions from the eligible Employee's Account are to commence, provided
that such date shall not be earlier than such eligible Employee's expected
retirement date (as determined under the then effective policies and practices
of the Employer) or later than the eligible Employee's 70th birthday. Such
election must be made prior to the period of service for which the Compensation
subject to the deferral election would otherwise be payable (within the meaning
of Code Section 409A). If a Participant fails to file a properly completed and
duly executed Election Form with the Plan Administrator by the prescribed time,
he will be deemed to have elected not to defer any Compensation under this Plan
until the first Plan Year commencing after such Participant's properly completed
and duly executed Election Form is filed with the Plan Administrator.

     Except as provided in Section 3.4, a Participant may not, after the
applicable date by which such Participant's initial election must be filed as
provided above in this Section 3.3, discontinue the Participant's election to
participate, change the percentage of Compensation the Participant has elected
to defer for a Plan Year, or change the commencement date, form, or number of
installments for distributions from the Participant's Account.

                                     III-1

<PAGE>

     The Participant shall designate on the Election Form (or on a separate form
provided by the Plan Administrator) a Beneficiary to receive payment of amounts
in his Account in the event of his death.

     3.4 Change of Election.

     (a) Change in Amount. Upon written notice to the Plan Administrator by
December 31st of a Plan Year, a Participant may increase, decrease, or
discontinue his deferral election for the following Plan Year; provided,
however, that (i) the form and amount deferred, and (ii) the amount to be
deferred after such election, satisfy the provisions of Sections 3.2 and 3.3. If
the Participant fails to deliver a properly completed and duly executed change
of Election Form in the manner provided in this section, his prior deferral
election shall remain in effect for the following Plan Year. Increases,
decreases or discontinuances in the amount a Participant elects to defer shall
not be permitted during the Plan Year.

     (b) Change in Distribution Date. By written notice to the Plan
Admininistrator, a Participant may elect to change the form (i.e., from lump-sum
to installments or from installments to lump sum) and/or defer the commencement
date for distributions from his Account, provided that (i) such election shall
not be effective for twelve (12) months after such election is made and notice
thereof is provided to the Plan Administrator, (ii) if the Participant's initial
election filed pursuant to Section 3.3 specified that the distribution to be
deferred would otherwise be made on a date certain (or pursuant to a schedule)
rather than on termination of the Participant's service with the Employer,
notice of such election must be delivered to the Plan Admininistrator not less
than twelve (12) months prior to the date that such payment(s) would otherwise
be made, (iii) the period of additional deferral must be not less than five (5)
years after the date that such payment(s) would otherwise be made, and (iv)
after giving effect to the additional deferral period, the commencement date for
distributions from the Participant's Account would not be later than the
eligible Employee's 70th birthday. For purposes of computing the deadlines set
forth in this paragraph, installment payments shall be treated as a single
payment made on the date of the first scheduled installment payment date.

                                     III-2

<PAGE>

                                   ARTICLE IV

                            INTEREST OF PARTICIPANTS

     4.1 Accounting for Participants' Interests.

     (a) Deferral Subaccount. Each Participant's Deferral Subaccount shall be
credited with the amounts of Compensation deferred by the Participant under this
Plan. The timing and manner in which amounts are credited to Participants'
Accounts under this Plan shall be determined by the Company and the Plan
Administrator in their discretion, but a Participant's deferral election shall
be applied to each pay period in which he has Compensation during his period of
participation in the Plan.

     (b) Employer Credit Subaccount. At the end of each Plan Year, the Board (or
its designee) shall determine whether there shall be an Employer contribution
credit for such Plan Year to a Participant's Employer Credit Subaccount. Such
determination shall be made on a individual Participant basis, it being the
intention that the Board shall have absolute discretion to determine whether an
individual Participant shall be credited with an Employer contribution, the
amount of such contribution and the conditions the Participant must satisfy to
be credited with such contribution.

     (c) Account Earnings or Losses. The Participant's Account shall be credited
with earnings (or losses) each Valuation Date as provided in this subsection
(c). The earnings rate credited to the Participant's Account will be determined
assuming the amounts credited to his Account were invested in the investment
funds the Participant has selected from the funds made available from time to
time under the Plan for such purpose by the Board or its designee. The
Participant shall make his initial selection among such funds on the investment
form provided for such purpose by the Plan Administrator in one percent (1%)
increments. Thereafter, the Participant may change his election with respect to
his existing Account and future additions to such Account once each calendar
quarter to be effective as of the first day of the immediately following
calendar quarter by submitting a new investment form to the Plan Administrator.
The investment election made by a Participant is solely for the purpose of
valuing his Account and does not in any way require the Employer or any trustee
of assets designated as available to pay Plan benefits to make such investments.

     4.2 Vesting of a Participant's Account. A Participant's interest in the
value of his Account shall at all times be 100% vested and nonforfeitable.

     4.3 Distribution of a Participant's Account. A Participant's Account shall
be distributed as provided in this Section 4.3. A Participant's Account shall
continue to be credited with earnings or losses under Section 4.1 until the
Account is fully distributed. In no event shall a distribution of any part of a
Participant's Account be made prior to the earliest of (i) the date of the
Participant's termination of service with the Employer unless the Participant
has specified a later date in an election then in effect pursuant to Section 3.3
or 3.4 hereof, (ii) the date specified by the Participant in the most recent
election then in effect pursuant to Section 3.3 or 3.4 hereof, (iii) the date
the Participant becomes Disabled (as defined in Section 4.3(c)), (iv) the death
of the

                                      IV-1

<PAGE>

Participant, and (v) the occurrence of an Unforeseeable Emergency (as defined in
Section 4.3(e)).

     (a) Termination of Service or Retirement. Unless the Participant has
specified a date (other than the Participant's termination of service with, or
retirement from, the Employer) for the commencement of distributions from his
Account in an effective election filed pursuant to Section 3.3 or 3.4 hereof, on
the Participant's termination of service with, or retirement from, the Employer,
the amounts credited to his Account shall be paid to such Participant in
accordance with the most recent such effective election filed by such
Participant, commencing as soon as administratively feasible after such
termination of service or retirement; provided that, in the case of a
Participant that is a "Key Employee" (as defined in Code Section 409A), if the
stock of the Employer is then publicly traded on an established securities
market or otherwise, any amounts which become payable from this Plan within the
first six months after such Participant's termination shall be delayed and paid
immediately following the close of such sixth month (or, if earlier, the date of
such Participant's death).

     (b) Specified Date. If the Participant has specified a date (other than the
Participant's termination of service with, or retirement from, the Employer) for
the commencement of distributions from his Account in an effective election
filed pursuant to Section 3.3 or 3.4 hereof, distributions of such Participant's
Account balance shall be made in accordance with the most recent such effective
election filed by such Participant and as soon as practical after such date.

     (c) Participant Disabled. If the Participant becomes Disabled, the
Participant's Account balance shall be paid out in a lump sum as soon as
practical after the date the Participant becomes Disabled. For purposes of this
Plan, a Participant shall be considered "Disabled" if the Participant is (i)
unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continuous period of not less than 12
months; or (ii) by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, receiving income replacement
benefits for a period of not less than 3 months under an accident and health
plan covering employees of the Company or any Employer.

     (d) Death of Participant. In the event of the death of a Participant,
distribution of the balance credited to a Participant's Account as of the date
of his death (reduced, if applicable, by any taxes withheld pursuant to Section
5.5) shall be made to his Beneficiary in a lump sum as soon as practical
following his death. If the Participant dies after payment of his interest in
the Plan has commenced, but prior to payment of his Account balance as provided
above, the remaining balance shall be paid to his Beneficiary (or Beneficiaries)
in a lump sum as soon as possible following his death.

     (e) Unforeseeable Emergency. A Participant who is suffering an
Unforeseeable Emergency may file a written request with the Plan Administrator
for distribution of all or a portion of the amount credited to his Account.
"Unforeseeable Emergency" means severe financial hardship to the Participant as
a result of an illness or accident of the Participant, the Participant's spouse
or a dependent (as defined in Code Section 152(a)) of the Participant; loss of
Participant's property due to casualty; or other similar extraordinary and
unforeseeable

                                      IV-2

<PAGE>

circumstances arising as a result of events beyond the control of the
Participant. The Plan Administrator shall have sole discretion to determine
whether to grant a Participant's hardship request and the amount to distribute
to the Participant, provided that such amount shall not exceed the amount
reasonably necessary to alleviate the Participant's hardship plus amounts
necessary to pay taxes reasonably anticipated as a result of the distribution,
after taking into account the extent to which such hardship is or may be
relieved through reimbursement or compensation by insurance or otherwise or by
liquidation of the Participant's assets (to the extent the liquidation of such
assets would not itself cause severe financial hardship).

     Except as expressly provided in this Section 4.4, no payment of benefits
shall be made under this Plan prior to a Participant's termination of service
(determined in accordance with Code Section 409A).

                                      IV-3

<PAGE>

                                   ARTICLE V

                               PLAN ADMINISTRATOR

     5.1 Members. The Plan Administrator shall be a committee or an individual
appointed by the Company to serve at its pleasure, provided that in the absence
of such appointment the Company shall be the Plan Administrator and shall have
the duties of the Plan Administrator provided for herein. Members of the
committee shall not be required to be employees of the Company or Participants.
Any committee member may resign by giving notice, in writing, filed with the
Human Resources Director or the President of the Company.

     5.2 Action. Action of the Plan Administrator may be taken with or without a
meeting of committee members; provided, however, that any action of the Plan
Administrator shall be taken only upon the vote or other affirmative expression
of a majority of the committee members qualified to vote with respect to such
action. If a member of the committee or the appointed individual is a
Participant in the Plan, he shall not participate in any decision which solely
affects his own Account. The Plan Administrator shall for purposes of
administering the Plan choose a secretary who shall keep minutes of the Plan
Administrator's proceedings and all records and documents pertaining to the
administration of this Plan. The secretary may execute any certificate or any
other written direction on behalf of the Plan Administrator.

     5.3 Right and Duties. The Plan Administrator shall administer and manage
the Plan and shall have all powers necessary to accomplish that purpose,
including (but not limited to) the following:

     (a) To construe, interpret, and administer this Plan;

     (b) To make allocations and determinations required by this Plan, and to
maintain records regarding Participants' Accounts;

     (c) To compute and certify to the Employer the amount and kinds of benefits
payable to Participants or their Beneficiaries, and to determine the time and
manner in which such benefits are to be paid;

     (d) To authorize all disbursements by the Employer pursuant to this Plan;

     (e) To maintain (or cause to be maintained) all the necessary records of
the administration of this Plan;

     (f) To make and publish such rules for the regulation of this Plan as are
not inconsistent with the terms hereof,

     (g) To delegate to other individuals or entities from time to time the
performance of any of its duties or responsibilities hereunder;

     (h) To establish or to change the investment funds or arrangements under
Section 4.1(c) of the Plan; and

                                      V-1

<PAGE>

     (i) To hire agents, accountants, actuaries, consultants and legal counsel
to assist in operating and administering the Plan.

     The Plan Administrator shall have the exclusive discretionary authority to
construe and to interpret the Plan, to decide all questions of eligibility for
benefits and to determine the amount and manner of payment of such benefits, and
its decisions on such matters shall be final and conclusive on all parties.

     5.4 Compensation, Indemnity and Liability. The Plan Administrator shall
serve as such without bond and without compensation for services hereunder. All
expenses of the Plan and the Plan Administrator shall be paid by the Employer.
If the Plan Administrator is a committee, no member of the committee shall be
liable for any act or omission of any other member of the committee, nor for any
act or omission on his own part, excepting his own willful misconduct. The
Employer shall indemnify and hold harmless the Plan Administrator and each
member of the committee, if any, against any and all expenses and liabilities,
including reasonable legal fees and expenses, arising out of his membership on
the committee, excepting only expenses and liabilities arising out of his own
willful misconduct.

     5.5 Taxes. If the whole or any part of any Participant's Account shall
become liable for the payment of any income, or other tax (including, after the
death of the Participant, any estate or inheritance tax) which the Employer
shall be required to pay or withhold, the Employer shall have the full power and
authority to withhold and pay such tax out of such Participant's Account or any
other monies or property of the Participant held or payable by the Employer. The
Employer shall provide the Participant notice of such withholding. Prior to
making any payment under this section, the Employer may require that the
Participant provide such releases or other documents from any lawful taxing
authority as it shall deem necessary.

                                      V-2

<PAGE>

                                   ARTICLE VI

                                CLAIMS PROCEDURE

     6.1 Claims for Benefits. If a Participant or Beneficiary (hereafter,
"Claimant") does not receive timely payment of any benefits which he believes
are due and payable under the Plan, he may make a claim for benefits to the Plan
Administrator. The claim for benefits must be in writing and addressed to the
Plan Administrator. If the claim for benefits is denied, the Plan Administrator
shall notify the Claimant in writing within 90 days after the Plan Administrator
initially received the benefit claim. However, if special circumstances require
an extension of time for processing the claim, the Plan Administrator shall
furnish notice of the extension to the Claimant prior to the termination of the
initial 90-day period and such extension shall not exceed one additional,
consecutive 90-day period. Any notice of a denial of benefits shall advise the
Claimant of the basis for the denial, any additional material or information
necessary for the Claimant to perfect his claim, and the steps which the
Claimant must take to have his claim for benefits reviewed.

     6.2 Appeals. Each Claimant whose claim for benefits has been denied may
file a written request for a review of his claim by the Plan Administrator. The
request for review must be filed by the Claimant within 60 days after he
received the written notice denying his claim. Except as provided below, the
decision of the Plan Administrator will be made within 60 days after receipt of
a request for review and shall be communicated in writing to the Claimant. Such
written notice shall set forth the basis for the Plan Administrator's decision.
If there are special circumstances which require an extension of time for
completing the review, the Plan Administrator shall notify the Claimant, and the
Plan Administrator's decision shall be rendered not later than 120 days after
receipt of the request for review.

                                      VI-1

<PAGE>

                                  ARTICLE VII

                           AMENDMENT AND TERMILNATION

     7.1 Amendments. The Board shall have the right in its sole discretion to
amend this Plan in whole or in part at any time; provided, however, that no such
amendment shall reduce the amounts credited at the time of such amendment to any
Participant's Account. Any amendment shall be in writing and executed by a duly
authorized officer of the Company. All Participants and Employers shall be bound
by such amendment.

     7.2 Termination of Plan. The Company expects to continue this Plan, but
does not obligate itself to do so. The Company reserves the right to discontinue
and terminate the Plan at any time, in whole or in part, for any reason
(including a change, or an impending change, in the tax laws of the United
States or any State). If the Plan is terminated, the Plan Administrator shall be
notified of such action in a writing executed by a duly authorized officer of
the Company, and the Plan shall be terminated at the time therein set forth.
Termination of the Plan shall be binding on all Participants, but in no event
may such termination reduce the amounts credited at the time of such termination
to any Participant's Account. If this Plan is terminated, amounts theretofore
credited to Participants' Accounts shall be paid to the applicable Participants
in accordance with the terms of the Plan.

                                     VII-1

<PAGE>

                                  ARTICLE VIII

                                  MISCELLANEOUS

     8.1 Limitation on Participant's Rights. Participation in this Plan shall
not give any Participant the right to be retained in any Employer's employ or
any right or interest in this Plan or any assets of the Company or any Employer
other than as herein provided. The Company and each Employer reserve the right
to terminate the employment of any Participant without any liability for any
claim against the Company or any Employer under this Plan, except to the extent
provided herein.

     8.2 Benefits Unfunded. The benefits provided by this Plan shall be
unfunded. All amounts payable under this Plan to Participants shall be paid from
the general assets of the applicable Employer, and nothing contained in this
Plan shall require any Employer to set aside or hold in trust any amounts or
assets for the purpose of paying benefits to Participants. This Plan shall
create only a contractual obligation on the part of the Employer, and
Participants shall have the status of general unsecured creditors of the
applicable Employer under the Plan with respect to amounts of Compensation they
defer hereunder or any other obligation of the Employer to pay benefits pursuant
hereto. Any funds of the Employer available to pay benefits pursuant to the Plan
shall be subject to the claims of general creditors of such Employer and may be
used for any purpose by the Employer.

     Notwithstanding the preceding paragraph, the Employer may at any time
transfer assets to one or more trusts for purposes of paying all or any part of
its obligations under this Plan. Any such trust shall be a grantor trust of
which the applicable Employer will be the "grantor", within the meaning of
subpart E, part I, subchapter J, chapter 1, subtitle A of the Code, and which
shall be organized under the laws of one of the states of the United States and,
to the extent applicable, shall otherwise conform in substance to the terms of
the model trust described in Revenue Procedure 92-64, 1992-2 C.B. 422 as
subsequently modified by the Internal Revenue Service (including, without
limitation, pursuant to Notice 2000-56). To the extent that assets are held in
the trust when a Participant's benefits under the Plan become payable, the Plan
Administrator may direct the trustee to make trust assets available to pay such
benefits to the Participant. Any payments made to a Participant or Beneficiary
from such trust shall relieve the Employer from any further obligations under
the Plan only to the extent of such payment.

     8.3 Other Plans. This Plan shall not affect the right of any eligible
Employee or Participant to participate in and receive benefits under and in
accordance with the provisions of any other employee benefit plans which are now
or hereafter maintained by the Employer, unless the terms of such other employee
benefit plan or plans specifically provide otherwise.

     8.4 Receipt or Release. Any payment to a Participant in accordance with the
provisions of this Plan shall, to the extent thereof, be in full satisfaction of
all claims against the Plan Administrator, the Company and all Employers, and
the Plan Administrator may require such Participant, as a condition precedent to
such payment, to execute a receipt and release to such effect.

                                     VIII-1

<PAGE>

     8.5 Governing Law. This Plan shall be construed, administered, and governed
in all respects in accordance with applicable federal law and, to the extent not
preempted by federal law, in accordance with the laws of the State of Georgia.
If any provisions of this instrument shall be held by a court of competent
jurisdiction to be invalid or unenforceable, the remaining provisions hereof
shall continue to be fully effective.

     8.6 Adoption of Plan by Related Employers. With the consent of the Company,
any corporation related to the Company by stock ownership is authorized to adopt
the Plan by action of its board of directors. The action taken by the board
shall include the effective date of the adoption of the Plan by such related
employer.

     8.7 Gender, Tense, and Headings. In this Plan, whenever the context so
indicates, the singular or plural number and the masculine, feminine, or neuter
gender shall be deemed to include the other. Headings and subheadings in this
Plan are inserted for convenience of reference only and are not considered in
the construction of the provisions hereof.

     8.8 Successors and Assigns; Nonalienation of Benefits. This Plan shall
inure to the benefit of and be binding upon the parties hereto and their
successors and assigns; provided, however, that the amounts credited to the
Account of a Participant shall not (except as provided in Section 5.5) be
subject in any manner to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance, charge, garnishment, execution or levy of any kind, either
voluntary or involuntary, and any attempt to anticipate, alienate, sell,
transfer, assign, pledge, encumber, charge or otherwise dispose of any right to
any benefits payable hereunder, including, without limitation, any assignment or
alienation in connection with a separation, divorce, child support or similar
arrangement, shall be null and void and not binding on the Plan, the Company or
any Employer.

                                     VIII-2

<PAGE>

     IN WITNESS WHEREOF, the Company has caused this Plan to be executed by its
duly authorized officers to be effective as of October 1, 1996.

                                        COMPANY:

                                        FIDELITY SOUTHERN CORPORATION

                                        By:
                                            ------------------------------------
                                        Title:
                                               ---------------------------------

                                        ADOPTING EMPLOYERS:

                                        FIDELITY BANK

                                        By:
                                            ------------------------------------
                                        Title:
                                               ---------------------------------

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