Document:

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HEARTLAND NATIONAL BANK
Split Dollar Plan

                                                                    EXHIBIT 10.6

                             HEARTLAND NATIONAL BANK
                                SPLIT DOLLAR PLAN

                          EFFECTIVE ____________, 2004
                                 January 4, 2005

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HEARTLAND NATIONAL BANK
Spin Dollar Plan

                             HEARTLAND NATIONAL BANK
                                SPLIT DOLLAR PLAN

      THIS SPLIT DOLLAR PLAN is adopted this 4 day of January, 2005,
by and between HEARTLAND NATIONAL BANK, a nationally-chartered corporation
located in Sebring, Florida (the "Company"), and JAMES BELFLOWER (the
"Executive").

      The purpose of this Agreement is to retain and reward the Executive, by
dividing the death proceeds of certain life insurance policies which are owned
by the Company on the life of the Executive with the designated beneficiary of
the Executive. The Company will pay the life insurance premiums from its general
assets.

                                    ARTICLE 1
                                   DEFINITIONS

      Whenever used in this Agreement, the following terms shall have the
meanings specified:

1.1   "Beneficiary" means each designated person, or the estate of the deceased
      Executive, entitled to benefits, if any, upon the death of the Executive.

1.2   "Beneficiary Designation Form" means the form established from time to
      time by the Plan Administrator that the Executive completes, signs and
      returns to the Company to designate one or more Beneficiaries.

1.3   "Board" means the boards of directors of the Corporation and the Company.

1.4   "Company's Interest" means the benefit set forth in Section 3.2.

1.5.  "Change of Control" means (i) a merger in which the Corporation is not
      the surviving entity, the acquisition of the Company by means of a
      merger, consolidation or purchase of 80% or more of its outstanding
      shares, or the acquisition by any individual or group of beneficial
      ownership of more than 50% of the outstanding shares of the Corporation's
      common stock. The term "group" and the concept of beneficial ownership
      shall have such meaning ascribed thereto as set forth in the Securities
      Exchange act of 1934, as amended, and the regulations and rules
      thereunder; or (ii) if more restrictive, the definition in Section 409A
      of the Code and regulations thereunder.

1.6   "Corporation" means Heartland Bancshares, Inc.

1.7   "Disability" means the Executive's suffering a sickness, accident or
      injury which has been determined by the insurance carrier of any
      individual or group disability insurance policy covering the Executive, or
      by the Social Security Administration, to be a disability rendering the
      Executive totally and permanently disabled. Upon the request of the
      Company, the Executive must submit proof to the Company of the insurance
      carrier's or Social Security Administration's determination.

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HEARTLAND NATIONAL BANK
Split Dollar Plan

1.8   "Employment Agreement" means the Employment Agreement between the Company,
      the Corporation and the Executive dated November 9, 2004

1.9   "Executive's Interest" means the benefit set forth in Section 3.1.

1.10  "Insured" means the Executive.

1.11  "Insurer" means the insurance company issuing the life insurance policy on
      the life of the Insured.

1.12  "Net Death Proceeds" means the total death proceeds of the Policy minus
      the cash surrender value.

1.13  "Normal Retirement Age" means the Executive attaining age 62.

1.14  "Normal Retirement Date" means the later of the Normal Retirement Age or
      the date of Termination of Employment for any reason other than
      Termination for Cause.

1.15  "Policy" means the individual insurance policy or policies adopted by the
      Company for purposes of insuring the Executive's life under this
      Agreement.

1.16  "Termination of Employment" means the termination of Executive's service
      for any reason, voluntarily or involuntarily, other than a leave of
      absence approved by the Company.

1.17  "Termination for Cause" means that the Executive's employment with the
      Company has been or is terminated by the Board for any of the following
      reasons:

      (a)   If the Executive shall fail or refuse to comply with the obligations
            required of him as set forth in the Employment Agreement or comply
            with the policies of the Company established by the Board from time
            to time; provided, however, that for the first such failure or
            refusal, the Executive shall be given written warning (providing at
            least a 10 day period for an opportunity to cure), and the second
            failure or refusal shall be grounds for Termination for Cause;

      (b)   If the Executive shall have engaged in conduct involving fraud,
            deceit, personal dishonesty, or breach of fiduciary duty;

      (c)   If the Executive shall have violated any bank law or regulation,
            memorandum of understanding, cease and desist order, or other
            agreement with any banking agency having jurisdiction over the
            Company and the Corporation which, in the judgment of the Board, has
            adversely affected or may adversely affect, the business or
            reputation of the Company and the Corporation as determined by the
            Board;

      (d)   If the Executive shall have become subject to continuing
            intemperance in the use of

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HEARTLAND NATIONAL BANK
Split Dollar Plan

            alcohol or drugs which has adversely affected, or may adversely
            affect, the business or reputation of the Company and the
            Corporation as determined by the Board;

      (e)   If the Executive shall have filed, or has filed against him, any
            petition under the federal bankruptcy law or any state insolvency
            laws; or

      (f)   If any banking authority having supervisory jurisdiction over the
            Company and the Corporation initiates any proceedings for removal of
            the Executive.

1.18  "Termination for Good Reason" shall mean (i) any material breach by the
      Company and the Corporation of any provision of the Employment Agreement,
      or (ii) any significant reduction (not pertaining to job performance
      issues), in the duties, responsibilities, authority or title of the
      Executive as an officer of the Company and the Corporation.

                                    ARTICLE 2
                                  PARTICIPATION

2.1   Termination of Participation. The Executive's rights under this Agreement
      shall automatically cease and his or her participation in this Agreement
      shall automatically terminate, if either of the following events occur:
      (i) if there is a Termination for Cause; or (ii) if the Executive's
      employment with the Company is terminated prior to Normal Retirement Age
      for reasons other than Disability (except as set forth in Section 2.2
      (b)), following a Change of Control, Termination for Good Reason, or a
      leave of absence approved by the Company. In the event that the Company
      decides to maintain the Policy after the Executive's termination of
      participation in the Agreement, the Company shall be the direct
      beneficiary of the entire death proceeds of the Policy.

2.2   Post-Termination Benefit.

      (a)   Except as otherwise provided in paragraph (b) of this Section 2.2,
            if the Executive's employment with the Company is terminated because
            of Disability, following a Change of Control, Termination for Good
            Reason, Termination for Cause, or attaining the Normal Retirement
            Date, the Company shall maintain the Policy in full force and effect
            and, in no event, shall the Company amend, terminate or otherwise
            abrogate the Executive's Interest in the Policy. However, the
            Company may replace the Policy with a policy that provides
            comparable death benefits provided under this Agreement.

      (b)   Notwithstanding the provisions of paragraph (a) of this Section 2.2,
            upon the disabled Executive's gainful employment with an entity
            other than the Company, the Company shall have no further obligation
            to the disabled Executive, and the disabled Executive's rights
            pursuant to the Agreement shall cease. In the event the disabled
            Executive's rights are terminated hereunder and the Company decides
            to

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HEARTLAND NATIONAL BANK
Split Dollar Plan

            maintain the Policy, the Company shall be the direct beneficiary of
            the entire death proceeds of the Policy.

                                    ARTICLE 3
                           POLICY OWNERSHIP/INTERESTS

3.1   Executive's Interest. The Executive, or the Executive's assignee, shall
      have the right to designate the, Beneficiary .of an amount equal to fifty
      percent (50%) of the Net Death Proceeds, subject to:

      (a)   Forfeiture of Executive's rights upon Termination of Participation
            as set forth in Section 2.1;

      (b)   Forfeiture of Executive's rights upon Termination for Cause;

      (c)   Forfeiture of Executive's rights upon gainful employment following
            Disability;

      (d)   Termination of the Agreement and the corresponding forfeiture of
            rights for all Executives or any one Executive in accordance with
            Section 9.1 hereof; or to conform with written directives to the
            Company from its banking regulators, and

      (e)   Forfeiture of the Executive's rights and interest hereunder that the
            Company may reasonably consider necessary to conform with applicable
            law (including the Sarbanes-Oxley Act of 2002).

3.2   Company's Interest. The Company shall own the Policy and shall have the
      right to exercise all incidents of ownership except that the Company shall
      not sell, surrender or transfer ownership of a Policy so long as the
      Executive has an interest in the Policy as described in Section 3.1.
      However, the Company may replace the Policy with a policy that provides
      comparable death benefits to cover the benefit provided under this
      Agreement. This provision shall not impair the right of the Company,
      subject to Article 9, to terminate this Agreement. The Company shall be
      the beneficiary of an amount of death proceeds equal to the greater of a)
      the cash surrender, value of the Policy,b) the aggregate premiums paid
      on the Policy by the Company less any outstanding indebtedness to the
      Insurer or c) the total death proceeds less the Executive's Interest
      described in Section 3.1.

                                    ARTICLE 4
                                    PREMIUMS

4.1   Premium Payment- The Company shall pay all premiums due on all Policies.

4.2   Economic Benefit. The Company shall determine the economic benefit
      attributable to the Executive based on the life insurance premium factor
      for the Executive's age multiplied by the aggregate death benefit payable
      to the Executive's beneficiary. The "life insurance premium factor" is the
      minimum factor applicable under guidance published pursuant to IRS Reg.
      section 1.61-22(d)(3)(ii) or any subsequent authority.

4.3   Imputed Income. The Company shall impute the economic benefit to the
      Executive on an

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 HEARTLAND NATIONAL BANK
 Split Dollar Plan

      annual basis, by adding the economic benefit to the Executive's W-2, or if
      applicable, Form 1099.

                                    ARTICLE 5
                                  BENEFICIARIES

5.1   Beneficiary. The Executive shall have the right, at any time, to designate
      a Beneficiary(ies) to receive any benefits payable under the Agreement to
      a beneficiary upon the death of the Executive. The Beneficiary designated
      under this Agreement may be the same as or different from the Beneficiary
      designation under any other Agreement of the Company in which the
      Executive participates.

5.2   Beneficiary Designation: Change. The Executive shall designate a
      Beneficiary by completing and signing the Beneficiary Designation Form,
      and delivering it to the Company or its designated agent. The Executive's
      beneficiary designation shall be deemed automatically revoked if the
      Beneficiary predeceases the Executive or if the Executive names a spouse
      as Beneficiary and the marriage is subsequently dissolved. The Executive
      shall have the right to change a Beneficiary by completing, signing and
      otherwise complying with the terms of the Beneficiary Designation Form and
      the Company's rules and procedures, as in effect from time to time. Upon
      the acceptance by the Company of a new Beneficiary Designation Form, all
      Beneficiary designations previously filed shall be cancelled. The Company
      shall be entitled to rely on the last Beneficiary Designation Form filed
      by the Executive and accepted by the Company prior to the Executive's
      death.

5.3   Acknowledgment. No designation or change in designation of a Beneficiary
      shall be effective until received, accepted and acknowledged in writing
      by the Company or its designated agent.

5.4   No Beneficiary Designation. If the Executive dies without a valid
      designation of beneficiary, or if all designated Beneficiaries predecease
      the Executive, then the Executive's surviving spouse shall be the
      designated Beneficiary. If the Executive has no surviving spouse, the
      benefits shall be made payable to the personal representative of the
      Executive's estate.

5.5   Facility of Payment. If the Company determines in its discretion that a
      benefit is to be paid to a minor, to a person declared incompetent, or to
      a person incapable of handling the disposition of that person's property,
      the Company may direct payment of such benefit to the guardian, legal
      representative or person having the care or custody of such minor,
      incompetent person or incapable person. The Company may require proof of
      incompetence, minority or guardianship as it may deem appropriate prior to
      distribution of the benefit. Any payment of a benefit shall be a payment
      for the account of the Executive and the Executive's Beneficiary, as the
      case may be, and shall be a complete discharge of any liability under the
      Agreement for such payment amount.

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HEARTLAND NATIONAL BANK
Split Dollar Plan

                                    ARTICLE 6
                                   ASSIGNMENT

      The Executive may irrevocably assign without consideration all or part of
the Executive's Interest in this Agreement to any person, entity or trust. In
the event the Executive shall transfer all or part of the Executive's Interest,
then all or part of the Executive's Interest in this Agreement shall be vested
in the Executive's transferee, who shall be substituted as a party hereunder,
and the Executive shall have no farther interest in this Agreement.

                                    ARTICLE 7
                                     INSURER

      The Insurer shall be bound only by the terms of its given Policy. The
Insurer shall not be bound by or deemed to have notice of the provisions of this
Agreement. The Insurer shall have the right to rely on the Company's
representations with regard to any definitions, interpretations or Policy
interests as specified under this Agreement.

                                    ARTICLE 8
                           CLAIMS AND REVIEW PROCEDURE

8.1   Claims Procedure. The Executive or Beneficiary ("claimant") who has not
      received benefits under the Agreement that he or she believes should be
      paid shall make a claim for such benefits as follows:

      8.1.1 Initiation - Written Claim. The claimant initiates a claim by
            submitting to the Company a written claim for the benefits.

      8.1.2 Timing of Company Response. The Company shall respond to such
            claimant within 90 days after receiving the claim. If the Company
            determines that special circumstances require additional time for
            processing the claim, the Company can extend the response period by
            an additional 90 days by notifying the claimant in writing, prior to
            the end of the initial 90-day period, that an additional period is
            required. The notice of extension must set forth the special
            circumstances and the date by which the Company expects to render
            its decision.

      8.1.3 Notice of Decision. If the Company denies part or all of the claim,
            the Company shall notify the claimant in writing of such denial. The
            Company shall write the notification in a manner calculated to be
            understood by the claimant. The notification shall set forth:

            (a)   The specific reasons for the denial;

            (b)   A reference to the specific provisions of the Agreement on
                  which the denial is based;

            (c)   A description of any additional information or material
                  necessary for the claimant to perfect the claim and an
                  explanation of why it is needed;

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HEARTLAND NATIONAL BANK
Split Dollar Plan

            (d)   An explanation of the Agreement's review procedures and the
                  time limits applicable to such procedures; and

            (e)   A statement of the claimant's right to bring a civil action
                  under ERISA Section 502(a) following an adverse benefit
                  determination on review.

8.2   Review Procedure. If the Company denies part or all of the claim, the
      claimant shall have the opportunity for a full and fair review by the
      Company of the denial, as follows:

      8.2.1 Initiation - Written Request. To initiate the review, the claimant,
            within 60 days after receiving the Company's notice of denial, must
            file with the Company a written request for review.

      8.2.2 Additional Submissions - Information Access. The claimant shall then
            have the opportunity to submit written comments, documents, records
            and other information relating to the claim. The Company shall also
            provide the claimant, upon request and free of charge, reasonable
            access to, and copies of, all documents, records and other
            information relevant (as defined in applicable ERISA regulations) to
            the claimant's claim for benefits.

      8.2.3 Considerations on Review. In considering the review, the Company
            shall take into account all materials and information the claimant
            submits relating to the claim, without regard to whether such
            information was submitted or considered in the initial benefit
            determination.

      8.2.4 Timing of Company's Response. The Company shall respond in writing
            to such claimant within 60 days after receiving the request for
            review. If the Company determines that special circumstances require
            additional time for processing the claim, the Company can extend the
            response period by an additional 60 days by notifying the claimant
            in writing, prior to the end of the initial 60-day period, that an
            additional period is required. The notice of extension must set
            forth the special circumstances and the date by which the Company
            expects to render its decision.

      8.2.5 Notice of Decision. The Company shall notify the claimant in writing
            of its decision on review. The Company shall write the notification
            in a manner calculated to be understood by the claimant. The
            notification shall set forth:

            (a)   The specific reasons for the denial;

            (b)   A reference to the specific provisions of the Agreement on
                  which the denial is based;

            (c)   A statement that the claimant is entitled to receive, upon
                  request and free of charge, reasonable access to, and copies
                  of, all documents, records and other information relevant (as
                  defined in applicable ERISA regulations) to the claimant's
                  claim for benefits; and

            (d)   A statement of the claimant's right to bring a civil action
                  under ERISA Section 502(a).

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HEARTLAND NATIONAL BANK
Split Dollar Plan

                                    ARTICLE 9
                           AMENDMENTS AND TERMINATION

9.1   Amendment or Termination of Agreement. Except as otherwise provided in
      Section 2.2, the Company may amend or terminate this Agreement at any time
      prior to the Executive's death. Such amendment or termination shall be by
      written notice to the Executive. In the event that the Company decides to
      maintain the Policy after the termination of the Agreement, the Company
      shall be the direct beneficiary of the entire death proceeds of the
      Policy.

9.2   Option to Purchase Upon Termination. If the Company exercises the right to
      terminate the Agreement, the Company shall not sell, surrender or transfer
      ownership of a Policy without first giving the Executive or the
      Executive's transferee the option to purchase the Policy for a period of
      sixty (60) days from written notice of such intention. The purchase price
      shall be an amount equal to the cash surrender value of the Policy.

                                   ARTICLE 10
                                 ADMINISTRATION

10.1  Company Duties. This Agreement shall be administered by the Company which
      shall consist of the Board, or such committee or persons as the Board may
      choose. The Company shall also have the discretion and authority to (i)
      make, amend, interpret and enforce all appropriate rules and regulations
      for the administration of this Agreement and (ii) decide or resolve any
      and all questions including interpretations of this Agreement, as may
      arise in connection with this Agreement.

10.2  Agents. In the administration of this Agreement, the Company may employ
      agents and delegate to them such administrative duties as it sees fit,
      (including acting through a duly appointed representative), and may from
      time to time consult with counsel who may be counsel to the Company.

10.3  Binding Effect of Decisions. The decision or action of the Company with
      respect to any question arising out of or in connection with the
      administration, interpretation and application of this Agreement and the
      rules and regulations promulgated hereunder shall be final and conclusive
      and binding upon all persons having any interest in this Agreement.

10.4  Indemnity of Company. The Company shall indemnify and hold harmless the
      members of the Company against any and all claims, losses, damages,
      expenses or liabilities arising from any action or failure to act with
      respect to this Agreement, except in the case of willful misconduct by the
      Company or any of its members.

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HEARTLAND NATIONAL BANK
Split Dollar Plan

                                   ARTICLE II
                                  MISCELLANEOUS

11.1  Binding Effect. This Agreement shall bind the Executive and the Company,
      (heir beneficiaries, survivors, executors, administrators and transferees
      and any Beneficiary.

11.2  No Guarantee of Employment. This Agreement is not an employment policy
      or contract. It does not give the Executive the right to remain an
      Executive of the Company, nor does it interfere with the Company's right
      to discharge the Executive. It also does not require the Executive to
      remain an Executive nor interfere with the Executive's right to terminate
      employment at any time.

11.3  Applicable Law. The Agreement and all rights hereunder shall be governed
      by and construed according to the laws of the State of Florida, except to
      the extent preempted by the laws of the United States of America.

11.4  Reorganization. The Company shall not merge or consolidate into or with
      another company, or reorganize, or sell substantially all of its assets to
      another company, firm or person unless such succeeding or continuing
      company, firm or person agrees to assume and discharge the obligations of
      the Company under this Agreement. Upon the occurrence of such event, the
      term "Company" as used in this Agreement shall be deemed to refer to the
      successor or survivor company.

11.5  Notice. Any notice or filing required or permitted to be given to the
      Company under this Agreement shall be sufficient if in writing and
      hand delivered, or sent by registered or certified mail, to the address
      below:

                                    320 US 27 NORTH
                                    Sebring Florida 33870
                                    _______________________________
                                    _______________________________

      Such notice shall be deemed given as of the date of delivery or, if
      delivery is made by mail, as of the date shown on the postmark or the
      receipt for registration or certification.

      Any notice or filing required or permitted to be given to the Executive
      under this Agreement shall be sufficient if in writing and hand-delivered,
      or sent by mail, to the last known address of the Executive.

11.6  Entire Agreement. This Agreement, along with the Executive's Beneficiary
      Designation Form constitute the entire agreement between the Company and
      the Executive as to the subject matter hereof. No rights are granted to
      the Executive under this Agreement other than those specifically set forth
      herein.

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HEARTLAND NATIONAL BANK
Split Dollar Plan

      IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date indicated above.

EXECUTIVE:                                  COMPANY:
                                            HEARTLAND NATIONAL BANK

/s/ JAMES BELFLOWER                         By EDWARD L. SMOAK
-----------------------------                  ------------------------------
JAMES BELFLOWER
                                            Title CHAIRMAN OF THE BOARD
                                                 ----------------------------

By execution hereof, Heartland Bancshares, Inc. consents to and agrees to be
bound by the terms and condition of this Agreement.

ATTEST:                                     HEARTLAND BANCSHARES, INC.

/s/   JAMES C. CLINARD                      By EDWARD L. SMOAK
-----------------------------                  ------------------------------
James C. Clinard
                                            Title CHAIRMAN OF THE BOARD
                                                  ---------------------------

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HEARTLAND NATIONAL BANK
Beneficiary Designation Form
Split Dollar Plan

I, JAMES BELFLOWER, designate the following as beneficiary of benefits under the
Agreement payable following my death:

Primary:
            SANDRA S. BELFLOWER                     100%
____________________________________________      _____%

____________________________________________      _____

Contingent:
            KIMBERLY PROVAU                          50%
____________________________________________      _____

            JAMES B. BELFLOWER JR                    50%
____________________________________________      _____

NOTES:

      -     PLEASE PRINT CLEARLY OR TYPE THE NAMES OF THE BENEFICIARIES.

      -     TO NAME A TRUST AS BENEFICIARY, PLEASE PROVIDE THE NAME OF THE
            TRUSTEE(S) AND THE EXACT NAME AND DATE OF THE TRUST AGREEMENT.

      -     TO NAME YOUR ESTATE AS BENEFICIARY, PLEASE WRITE "ESTATE OF [YOUR
            NAME] ".

      -     BE AWARE THAT NONE OF THE CONTINGENT BENEFICIARIES WILL RECEIVE
            ANYTHING UNLESS ALL OF THE PRIMARY BENEFICIARIES PREDECEASE YOU.

I understand that I may change these beneficiary designations by delivering a
new written designation to the Company, which shall be effective only upon
receipt and acknowledgment by the Company prior to my death. I further
understand that the designations will be automatically revoked if the
beneficiary predeceases me, or, if I have named my spouse as beneficiary and our
marriage is subsequently dissolved.

Name:             JAMES B. BELFLOWER
            ------------------------

Signature:  /s/ James B. Belflower          Date:  1/04/05
            ------------------------

Received by the Company this ________day of ______________, 20____

By:
      ______________________________

Title:
      ______________________________

<PAGE>

HEARTLAND NATIONAL BANK
Policy Endorsement
Split Dollar Plan

                               POLICY ENDORSEMENT

Contract Owner:   HEARTLAND NATIONAL BANK

The undersigned Owner requests that the policy(ies) shown in the attached
Schedule Page issued by SECURITY LIFE OF DENVER (the "Insurer") provide for the
following beneficiary designation:

      1. Upon the death of the Insured, proceeds shall be paid in one sum to
the Owner, its successors or assigns, as Beneficiary, to the extent claimed by
said Owner.

      2. Any proceeds at the death of the Insured in excess of the amount paid
under the provisions of paragraph 1 of this Policy Endorsement shall be paid in
one sum in accordance with the written direction of the Owner. Such direction
will be provided to the Insurer at the time of claim. The Insurer will be
protected in relying solely on the Owner to provide the name(s) of the
party(ies) to pay any excess not paid under paragraph 1. If the Owner fails to
provide the name(s) of the party(ies) at the time of claim, then any proceeds
payable under this paragraph shall be paid in one sum to the Beneficiary.

      3. It is hereby provided that (i) any payment made to the Beneficiary or
other party under paragraph 2 of this Policy Endorsement shall be a full
discharge of the Insurer to the extent thereof; (ii) such discharge shall be
binding on all parties claiming any interest under the Policy; and (iii) the
Insurer shall have no responsibility with respect to the amounts so claimed.

      4. It is agreed by the undersigned that this designation shall be subject
in all respects to the contractual terms of the Policy.

The undersigned is signing in a representative capacity for the Owner and
warrants that he or she has the authority to bind the entity on whose behalf
this document is being executed.

Signed at  SEBRING, FL, this 4 day of January, 2005.

OWNER:

HEARTLAND NATIONAL BANK

BY:      EDWARD L. SMOAK                   BY:     JAMES C. CLINARD
         ---------------------------               ----------------------------
         (Signature: Bank Officer #1)               (Signature: Bank Officer #2)

         (Printed)                                 (Printed)

TITLE:   CHAIRMAN OF THE BOARD              TITLE: PRESIDENT

                                     1 of 2
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HEARTLAND NATIONAL BANK
BEneficiary Designation Form
Split Dollar Plan

                                  SCHEDULE PAGE
                    POLICY(IES) SUBJECT TO POLICY ENDORSEMENT
<TABLE>
<S>                                         <C>
Policy Number                               Insured
                                            James Belflower
</TABLE>

                                     2 of 2<PAGE>
                                                                   EXHIBIT 10.1

                           WRIGHT MEDICAL GROUP, INC.
                      EXECUTIVE PERFORMANCE INCENTIVE PLAN

                                   ARTICLE I
                               GENERAL PROVISIONS

1.1 PURPOSE. The purpose of the Executive Performance Incentive Plan (the
"Plan") is to increase shareholder value by providing an incentive for the
achievement of goals that support the Wright Medical Group, Inc. (the "Company")
strategic plan.

1.2 ADMINISTRATION OF THE PLAN. The Plan shall be administered by the
Compensation Committee of the Board of Directors (the "Committee"). The
Committee shall have the authority to interpret and construe the Plan and to
adopt all necessary rules and regulations for administering the Plan. All
decisions and determinations of the Committee with respect to the Plan shall be
final and binding on all parties.

                                   ARTICLE II
                                 PARTICIPATION

2.1 ELIGIBILITY AND PARTICIPATION. All officers of the Company shall be
eligible to participate in the Plan. The Committee shall have the sole and
absolute authority to designate actual participants in the Plan ("Participant")
from among those eligible persons set forth in the first sentence of this
Section 2.1, and to amend such designations at any time.

                                  ARTICLE III
                                  PLAN AWARDS

3.1 FREQUENCY OF AWARDS. The Committee shall determine the frequency of
potential awards for each Plan year. Awards may be annual, quarterly or any
another frequency as deemed appropriate by the Committee.

3.2 ESTABLISHMENT OF BONUS POOL. For each Plan year, the Committee shall
establish the method for determining the amount of bonus available to be paid
to the Participants (the "Bonus Pool"). The method for determining the Bonus
Pool shall be based on the financial performance of the Company determined by
measures including but not limited to sales, operating income, pre-tax income,
net income, and earnings per share.

3.3 ALLOCATION OF BONUS POOL. For each Plan year, the Committee shall determine
the portion of the Bonus Pool that each Participant is eligible to receive. The
Bonus Pool shall be allocated to the Participants pro-rata based on each
Participant's base salary and portion of the Plan year that such Participant is
employed by the Company, or by any other method deemed appropriate by the
Committee.

<PAGE>

3.4 ESTABLISHMENT OF PERFORMANCE GOALS. For each Plan year, the Committee shall
establish performance goals for each Participant (the "Performance Goals").
Performance Goals will be based on the financial performance of the Company,
its subsidiaries and/or its divisions established in a manner appropriate for
each respective Participant, as determined by measures that may include but not
be limited to sales, operating income, pre-tax income, net income, earnings per
share and cashflow.

3.5 EVALUATION OF PERFORMANCE GOALS FOR THE PRIOR PLAN YEAR. The Committee
shall determine the Participant's entitlement to the final bonus payment for
each Plan year based on achievement of the Performance Goals set forth in the
Plan in good faith within thirty (30) days after the completion of the audit
for such calendar year, which shall be paid by the Company no later than ten
(10) days following such determination. Each Participant's actual payment will
be determined by multiplying their percentage achievement of their Performance
Goals times their portion of the Bonus Pool. The Committee in its sole and
absolute discretion, may determine that a Participant's actual payment for the
Plan year shall be less than or more than the amount earned by such Participant
under the Plan. In no event shall a Participant's actual payment exceed two
times the salary earned by the Participant in the Plan year. The Participant
must be an active and ongoing employee of the Company at the time of payment to
be eligible for a payment under the Plan. A participant's termination or
announced resignation forfeits any unpaid amounts earned under the Plan.

                                   ARTICLE IV
                             MISCELLANEOUS MATTERS

4.1 OTHER COMPENSATION PLANS. This Plan shall not affect any other compensation
plans in effect for the Company, nor shall the Plan preclude the Company from
establishing any other forms of compensation for employees, officers or
directors of the Company.

4.2 AMENDMENT AND TERMINATION OF THE PLAN. The Company may amend, modify or
terminate the Plan at any time, but any such amendment, modification or
termination shall not adversely affect any rights of the Participants with
respect to the Plan, which had been awarded prior to such amendment,
modification or termination.

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