Document:

Exhibit 10.6

 

HOME BANK, N.A.

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This AMENDED AND
RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the 20th day of May, 2019,
between Home Bank, N.A. (the “Bank” or the “Employer”), a nationally chartered bank which
is the wholly owned subsidiary of Home Bancorp, Inc. (the “Corporation”), and Joseph B. Zanco (the “Executive”).

 

WITNESSETH

 

WHEREAS, the
Executive is currently employed as the Executive Vice President and Chief Financial Officer of the Bank, and the Executive and
the Bank have previously entered into an amended and restated employment agreement dated March 28, 2011, as amended (the “Prior
Agreement”);

 

WHEREAS, the
Board of Directors of the Bank (the “Bank Board”) has reviewed the Executive’s performance and has determined
that it is in the Bank’s best interests to extend the term of the Bank’s employment agreement with the Executive;

 

WHEREAS, the
Bank desires to assure itself of the continued availability of the Executive’s services as provided in this Agreement;

 

WHEREAS, the
Bank desires to amend and restate the Prior Agreement in order to make certain changes; and

 

WHEREAS, the
Executive is willing to serve the Bank on the terms and conditions hereinafter set forth.

 

NOW THEREFORE,
in consideration of the mutual agreements herein contained, and upon the other terms and conditions hereinafter provided, the Bank
and the Executive hereby agree as follows:

 

1.            Definitions.
The following words and terms shall have the meanings set forth below for the purposes of this Agreement:

 

(a)          Annual
Compensation. The Executive’s “Annual Compensation” for purposes of determining severance payable under this
Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) any Incentive
Compensation or other cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which
the Date of Termination occurs.

 

(b)          Base
Salary. “Base Salary” shall have the meaning set forth in Section 3(a) hereof.

 

(c)          Cause.
Termination of the Executive’s employment for “Cause” shall mean termination because of, as determined by Bank
Board acting in good faith:

 

(i)          any
act by Executive of fraud against, material misappropriation from, or material dishonesty to the Bank;

 

     

     

    

 

(ii)         conduct
by Executive that amounts to willful misconduct, gross and willful insubordination, or gross neglect in the performance of Executive’s
duties and responsibilities hereunder;

 

(iii)        Executive’s
conviction of, indictment for (or its procedural equivalent), or entering of a guilty plea or plea of no contest with respect to,
a crime involving breach of trust or moral turpitude or any felony;

 

(iv)        receipt
of any form of notice, written or otherwise, that any regulatory agency having jurisdiction over the Bank intends to institute
any form of formal or informal regulatory action against Executive;

 

(v)         Executive’s
removal and/or permanent prohibition from participating in the conduct of the Bank’s affairs by an order issued under 12
U.S.C. Section 1818(e) or (g);

 

(vi)        the
exhibition of a standard of behavior within the scope of or related to his employment that is materially disruptive to the orderly
conduct of the Bank’s business operations (including, without limitation, substance abuse or sexual harassment or sexual
misconduct that violates federal or state law); or

 

(vii)       a
material breach of the terms of this Agreement by Executive not cured by Executive within thirty (30) days of the date the Executive
received the Notice of Termination, and, in the event Executive does not cure any such condition, the Bank terminates his employment
within thirty (30) days after the period for curing the condition has expired. If the Executive remedies the condition within such
thirty (30) day cure period, then no Cause shall be deemed to exist with respect to such condition; provided, that the Executive
shall not have the opportunity to cure if the breach is not susceptible to being cured or such an opportunity would otherwise conflict
with applicable federal or state regulatory requirements;

 

provided, that the nature of any act, conduct,
behavior, breach or other circumstances constituting Cause shall be set forth with reasonable particularity in a written notice
to the Executive that states the facts upon which the Bank Board made such determination.

 

(d)          Change
in Control. “Change in Control” shall mean a “change in the ownership of the corporation,” a “change
in the effective control of the corporation,” or a “change in the ownership of a substantial portion of the assets
of the corporation” within the meaning of Treasury Regulation 1.409A-3(i)(5). For purposes of the preceding sentence, “the
corporation” refers to the Corporation or the Bank. Notwithstanding the foregoing, the following shall not be deemed to result
in a Change in Control: (i) any acquisition by any employee benefit plan (or related trust), including but not limited to, an employee
stock ownership plan as defined in Section 4975(e)(7) of the Code, sponsored or maintained by the Employer or any corporation controlled
by the Employer; or (ii) any merger, consolidation, reorganization, share exchange or other transaction as to which the holders
of the capital stock of the Employer before the transaction continue after the transaction to hold, directly or indirectly through
a holding company or otherwise, shares of capital stock of the Employer (or other surviving company) representing more than fifty
percent (50%) of the value or ordinary voting power to elect directors of the capital stock of the Employer (or other surviving
company).

 

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(e)          Code.
 “Code” shall mean the Internal Revenue Code of 1986, as amended.

 

(f)           Competitive
Business. “Competitive Business” shall mean an enterprise that is in the business of offering banking products
and/or services, which services and/or products are similar or substantially identical to those offered by the Bank during Executive’s
employment with the Bank.

 

(g)          Date
of Termination. “Date of Termination” shall mean (i) if the Executive’s employment is terminated for Cause,
the date on which the Notice of Termination is given, and (ii) if the Executive’s employment is terminated for any other
reason, the date specified in such Notice of Termination.

 

(h)          Effective
Date. The Effective Date of this Agreement shall mean the date first written above.

 

(i)           Disability.
 “Disability” shall mean the Executive (i) is 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) is, 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 three months under an accident and health plan covering employees of
the Employer.

 

(j)           Good
Reason. “Good Reason” means the occurrence of any of the following conditions:

 

(i)          any
material breach of this Agreement by the Bank, including without limitation any of the following: (A) a material diminution in
the Executive’s Base Salary, (B) a material diminution in the Executive’s authority, duties or responsibilities as
prescribed in Section 2, or (C) any requirement that the Executive report to a corporate officer or employee of the Bank instead
of reporting directly to the President and/or Chief Executive Officer, or

 

(ii)         any
involuntary material change in the geographic location at which the Executive must perform his services under this Agreement for
a period of more than 90 days;

 

provided, however, that prior to any termination
of employment for Good Reason, the Executive must first provide written notice to the Bank within ninety (90) days of the initial
existence of the condition, describing the existence of such condition, and the Bank shall thereafter have the right to remedy
the condition within thirty (30) days of the date the Bank received the written notice from the Executive. If the Bank remedies
the condition within such thirty (30) day cure period, then no Good Reason shall be deemed to exist with respect to such condition.
If the Bank does not remedy the condition within such thirty (30) day cure period, then the Executive may deliver a Notice of Termination
for Good Reason at any time within sixty (60) days following the expiration of such cure period.

 

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(k)          Notice
of Termination. Any purported termination of the Executive’s employment by the Bank for any reason, including without
limitation for Cause or Disability, or by the Executive for any reason, including without limitation for Good Reason, shall be
communicated by a written “Notice of Termination” to the other party hereto. For purposes of this Agreement, a “Notice
of Termination” shall mean a dated notice which (i) indicates the specific termination provision in this Agreement relied
upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated, (iii) specifies a Date of Termination, which shall be effective immediately if the
Bank terminates the Executive’s employment for Cause, and (iv) is given in the manner specified in Section 13 hereof.

 

(l)           Territory.
 “Territory” shall mean, to the extent the Bank carries on business therein, (i) Acadia, Calcasieu, East Baton Rouge,
Jeff Davis, Jefferson, Lafayette, Orleans, St. Martin and St. Tammany Parishes, Louisiana, (ii) Adams and Warren Counties, Mississippi,
and (iii) in the event that the Bank expands the geographic reach of its business to other parishes or counties, the definition
of Territory shall expand to include such additional parishes or counties. In any such case, the Executive agrees to execute and
deliver an amendment hereto adding the additional parishes or counties, upon payment to the Executive by the Bank of the sum of
one hundred dollars ($100).

 

2.           Term
of Employment and Duties. 

 

(a)          The
Bank hereby employs the Executive as the Executive Vice President and Chief Financial Officer of the Bank, and the Executive hereby
accepts said employment and agrees to render such services to the Bank on the terms and conditions set forth in this Agreement.
The terms and conditions of this Agreement shall be and remain in effect during the period beginning on the Effective Date of this
Agreement and ending on the second anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to
Section 2(b) hereof (the “Employment Period”).

 

(b)          At
least thirty (30) days prior to the first anniversary of the Effective Date and each anniversary of the Effective Date thereafter
(the “Renewal Date”), the Bank Board shall consider and review (after taking into account all relevant factors,
including the Executive’s performance hereunder) whether it is in the best interests of the Bank to extend the term of this
Agreement. If the Bank Board determines that an extension of the term of this Agreement is in the best interests of the Bank, then
the Bank Board may approve a one-year extension of the term of this Agreement effective as of the Renewal Date, in which case the
term of this Agreement shall be extended for one additional year, unless the Executive gives written notice to the Employer of
the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior
to any such Renewal Date. The Bank Board agrees to inform the Executive not less than thirty (30) days prior to any such Renewal
Date as to whether or not the Bank Board elected to extend the term of this Agreement. If the Agreement is not extended as of any
Renewal Date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this
Agreement shall refer both to the initial term and successive terms.

 

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(c)          Nothing
in this Agreement shall be deemed to prohibit the Bank at any time from terminating the Executive’s employment as Executive
Vice President and Chief Financial Officer during the Employment Period for any reason, provided that the relative rights and obligations
of the Bank and the Executive in the event of any such termination shall be determined under this Agreement.

 

(d)          During
the term of this Agreement, the Executive shall manage the financial operations of the Bank. The Executive shall report directly
to the President and Chief Executive Officer of the Bank. In addition, the Executive shall perform such executive services for
the Bank as may be consistent with his titles and from time to time assigned to him by the President and Chief Executive Officer
of the Bank.

 

3.            Compensation
and Benefits. 

 

(a)          The
Employer shall compensate and pay the Executive for his services during the term of this Agreement at a minimum base salary per
year that is no less than the amount paid to Executive as of the Effective Date of this Agreement (“Base Salary”),
which amount may be increased from time to time in such amounts as may be determined by the Bank Board and may not be decreased
without the Executive’s express written consent. The Executive and the Bank acknowledge that a portion of the Base Salary
may be paid by the Corporation for services rendered to the Corporation by the Executive, and the Executive and the Bank further
acknowledge and agree that the combined Base Salary paid to the Executive each year by the Corporation and the Bank shall be the
amount set forth above, as increased from time to time by the Bank Board.

 

(b)          Subject
to applicable law, including any required regulatory approval, for each calendar year during the Employment Period, Executive shall
be eligible to participate in an annual incentive bonus plan that by its terms provides financial awards that are no less in bonus
value or greater in performance levels than plan terms offered to other senior executives of the Bank, with award opportunities
approved from year to year by the Bank Board (“Incentive Compensation”). Threshold, target and maximum corporate
performance levels shall be established by the Bank Board from year to year based on budget, earnings growth, profitability, asset
quality, qualitative risk measures and such other performance metrics as the Bank Board reasonably may determine and shall be outlined
in the specific award opportunity. The performance measures for any given year shall be set no later than December 31st
of the year preceding the performance year of Incentive Compensation eligibility. Entitlement to and payment of such Incentive
Compensation is subject to the discretion and approval of the Bank Board. Any Incentive Compensation earned shall be payable no
later than March 15th of the year following the year in which the bonus is earned, in accordance with the Employer’s
normal practices for the payment of short-term incentives. To be entitled to any payment of Incentive Compensation, Executive must
be employed by the Employer on the last day of the applicable performance period. The payment of any Incentive Compensation shall
be subject to any approvals or non-objections required by any regulator of the Employer, and the obligation to pay any such Incentive
Compensation shall be rendered null and void to the extent the same is then prohibited by any applicable law or regulatory restriction.

 

(c)          Executive
will be eligible to participate in any stock option plan, restricted stock or long-term equity incentive plans offered by the Corporation,
similar to that offered to other senior executives on terms consistent with Executive’s position with the Corporation.

 

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(d)          Executive
and Executive’s family shall be eligible for participation in and shall receive all benefits under any health and welfare
benefit plans, practices, policies and programs provided by the Bank, to the extent applicable to similarly situated executives
of the Bank and subject to the terms, conditions and eligibility requirements (including any required premium payments or other
costs) therefore as may be prescribed by the Bank or set forth in the terms of such plans, practices, policies and programs from
time to time.

 

(e)          During
the term of this Agreement, the Executive shall be entitled to participate in and receive the benefits of any pension or other
retirement benefit plan, profit sharing, employee stock ownership, or other plans, benefits and privileges given to employees and
executives of the Employer, to the extent commensurate with his then duties and responsibilities, as fixed by the Bank Board. The
Bank shall not make any changes in any compensation or other plans, benefits or privileges which would adversely affect the Executive’s
rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all executive officers of the Bank
and does not result in a proportionately greater adverse change in the rights of or benefits to the Executive as compared with
any other executive officer of the Bank. Nothing paid to the Executive under any plan or arrangement presently in effect or made
available in the future shall be deemed to be in lieu of the salary payable to the Executive pursuant to Section 3(a) hereof.

 

(f)          Except
as otherwise agreed between the Corporation and the Bank, the Executive’s compensation, benefits and severance set forth
in this Agreement shall be paid by the Corporation and the Bank in the same proportion as the time and services actually expended
by the Executive on the business of the Corporation and the business of the Bank, respectively, with any amounts paid by the Corporation
to be credited towards the obligations of the Bank under this Agreement. For this purpose, the Executive shall maintain, and provide
to the Bank on at least a monthly basis, documentation of the time and expenses expended by the Executive on the business of each
of the Corporation and the Bank.

 

(g)          The
Executive agrees to repay any compensation previously paid or otherwise made available to the Executive under this Agreement that
is subject to recovery under any clawback or compensation recovery policy as may be adopted from time to time by the Employer or
under any applicable law (including any rule of any exchange or service through which the securities of the Corporation are then
traded), including, but not limited to, the following circumstances:

 

(i)          where
such compensation was in excess of what should have been paid or made available because the determination of the amount due was
based, in whole or in part, on materially inaccurate financial information of the Bank;

 

(ii)         where
such compensation constitutes “excessive compensation” within the meaning of 12 C.F.R. Part 30, Appendix A;

 

(iii)        where
Executive has committed, is substantially responsible for, or has violated, the respective acts, omissions, conditions, or offenses
outlined under 12 C.F.R. Section 359.4(a)(4); and

 

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(iv)        if
the Bank becomes, and for so long as the Bank remains, subject to the provisions of 12 U.S.C. Section 1831o(f), where such compensation
exceeds the restrictions imposed on the senior executive officers of such an institution.

 

Executive agrees to return
within sixty (60) days, or within any earlier timeframe required by applicable law or any recoupment policy, any such compensation
properly identified by the Bank by written notice. If Executive fails to return such compensation within the applicable time period,
Executive agrees that the amount of such compensation may be deducted from any and all other compensation owed to Executive by
the Bank. The provisions of this subsection shall be modified to the extent, and remain in effect for the period, required by applicable
law.

 

4.            Expenses.
The Employer shall reimburse the Executive or otherwise provide for or pay for all reasonable expenses incurred by the Executive
in furtherance of or in connection with the business of the Employer, including, but not by way of limitation, automobile expenses,
traveling expenses, and all reasonable entertainment expenses (whether incurred at the Executive’s residence, while traveling
or otherwise), subject to such reasonable documentation and policies as may be established by the Bank Board. If such expenses
are paid in the first instance by the Executive, the Employer shall reimburse the Executive therefor. Such reimbursement shall
be paid promptly by the Employer and in any event no later than March 15th of the year immediately following the year
in which such expenses were incurred.

 

5.           Termination.

 

(a)          The
Bank shall have the right, at any time upon prior Notice of Termination, to terminate the Executive’s employment hereunder
for any reason, including without limitation termination for Cause or Disability, and the Executive shall have the right, upon
prior Notice of Termination, to terminate his employment hereunder for any reason.

 

(b)          In
the event that the Executive’s employment is terminated for any reason, the Employer shall have no further obligations to
the Executive or the Executive’s legal representatives under this Agreement, except as provided in Section 5(e) or (f), other
than for (i) payment of his Base Salary and any Incentive Compensation accrued but unpaid as of the Date of Termination, (ii) reimbursement
of expenses incurred, but unpaid, as of the Date of Termination, and (iii) amounts otherwise due and payable pursuant to the terms
then in effect under any compensatory plan or practice in which the Executive is then a participant (the “Accrued Obligations”).
The Accrued Obligations shall be payable in accordance with the Employer’s regular payroll practices or the terms of such
compensatory plan or practice, as applicable.

 

(c)          In
the event that (i) the Executive’s employment is terminated by the Bank for Cause or (ii) the Executive terminates his employment
hereunder other than for Disability, death or Good Reason, the Executive shall have no right pursuant to this Agreement to compensation
or other benefits for any period after the applicable Date of Termination, other than for payment of the Accrued Obligations.

 

(d)          In
the event that the Executive’s employment is terminated as a result of Disability or the Executive’s death during the
term of this Agreement, the Executive shall have no right pursuant to this Agreement to compensation or other benefits for any
period after the applicable Date of Termination, other than for payment of the Accrued Obligations.

 

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(e)          In
the event that, outside of a Change in Control Window, (i) the Executive’s employment is terminated by the Employer for other
than Cause, Disability or the Executive’s death or (ii) such employment is terminated by the Executive for Good Reason, then
the Employer shall:

 

(A)         pay
to the Executive, in a lump sum as of the Date of Termination, a cash severance amount equal to one (1) times his Base Salary,
and

 

(B)         maintain
and provide for a period ending at the earlier of (i) twelve (12) months after the Date of Termination or (ii) the date of the
Executive’s full-time employment by another employer (provided that the Executive is entitled under the terms of such employment
to benefits substantially similar to those described in this subparagraph (B)), at no cost to the Executive, the continued participation
of the Executive and his dependents in all group insurance, life insurance, health and accident insurance, and disability insurance
offered by the Employer in which the Executive and his dependents were participating immediately prior to the Date of Termination,
subject to compliance with Section 5(g) below.

 

(f)          In
the event that within three (3) months prior to, concurrently with or twelve (12) months following a Change in Control (a “Change
in Control Window”), (i) the Executive’s employment is terminated by the Employer for other than Cause, Disability
or the Executive’s death or (ii) such employment is terminated by the Executive for Good Reason, then the Employer shall,
subject to the provisions of Section 6 hereof, if applicable,

 

(A)         pay
to the Executive, in a lump sum as of the Date of Termination (or if applicable, the later date of a Change in Control), a cash
severance amount equal to one (1) times his Annual Compensation, and

 

(B)         maintain
and provide for a period ending at the earlier of (i) twelve (12) months after the Date of Termination or (ii) the date of the
Executive’s full-time employment by another employer (provided that the Executive is entitled under the terms of such employment
to benefits substantially similar to those described in this subparagraph (B)), at no cost to the Executive, the continued participation
of the Executive and his dependents in all group insurance, life insurance, health and accident insurance, and disability insurance
offered by the Employer in which the Executive and his dependents were participating immediately prior to the Date of Termination,
subject to compliance with Section 5(g) below.

 

(g)          Any
insurance premiums payable by the Employer or any successors pursuant to this Section 5 shall be payable at such times and in such
amounts (except that the Employer shall also pay any employee portion of the premiums) as if the Executive was still an employee
of the Employer, subject to any increases in such amounts imposed by the insurance company or COBRA, and the amount of insurance
premiums required to be paid by the Employer in any taxable year shall not affect the amount of insurance premiums required to
be paid by the Employer in any other taxable year; provided, however, that if the Executive’s participation in any group
insurance plan is barred, the Employer shall either arrange to provide the Executive with insurance benefits substantially similar
to those which the Executive was entitled to receive under such group insurance plan or, if such coverage cannot be obtained, pay
a lump sum cash equivalency amount within thirty (30) days following the Date of Termination based on the annualized rate of premiums
being paid by the Employer as of the Date of Termination.

 

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6.            Limitation
of Benefits under Certain Circumstances.

 

(a)          If
the payments and benefits pursuant to Section 5 hereof, either alone or together with other payments and benefits which the Executive
has the right to receive from the Bank or the Corporation (“Covered Payments”), would constitute a “parachute
payment” under Section 280G of the Code (“Parachute Payments”), then the Covered Payments payable by the
Bank shall be reduced by the minimum amount necessary so that no portion of the Covered Payments payable by the Bank will constitute
a Parachute Payment; provided, however, that the foregoing reduction will be made only if and to the extent that such reduction
would result in an increase in the aggregate Covered Payments to be provided, determined on an after-tax basis (taking into account
the excise tax imposed pursuant to Section 4999 of the Code (the “Excise Tax”), any tax imposed by any comparable
provision of state law, and any applicable federal, state and local income and employment taxes). Whether requested by the Executive
or the Employer, the determination of whether any reduction in such Covered Payments is required pursuant to the preceding sentence
will be made at the expense of the Employer by independent accountants selected by the Corporation (the “Accountants”).
In the event the Covered Payments are required to be reduced pursuant to this Section 6, the Covered Payments will be reduced by
category in the following order: (i) reduction or elimination of cash severance benefits that are subject to Section 409A of the
Code; (ii) reduction or elimination of cash severance benefits that are not subject to Section 409A of the Code; (iii) reduction
or elimination of any remaining portion of the Covered Payments that are subject to Section 409A of the Code other than accelerated
vesting of equity awards; (iv) reduction or elimination of any remaining portion of the Covered Payments that are not subject to
Section 409A of the Code other than accelerated vesting of equity awards; (v) cancellation of accelerated vesting of performance-based
equity awards; and (vi) cancellation of accelerated vesting of service-based equity awards. In the event that acceleration of vesting
of equity award compensation is to be cancelled, such acceleration of vesting will be cancelled in the order that most benefits
the Executive. Within each other category, cash severance benefits and other Covered Payments will be reduced pro rata based on
the portion of cash severance benefits or other Covered Payments with respect to the Covered Payments, in each case beginning with
the cash severance benefits or other Covered Payments that would otherwise be made latest in time; provided that in no event shall
the cash portion of the Covered Payments be less than the amount of federal and state income tax withholding owed by the Executive
with respect to the Covered Payments. Nothing contained in this Section 6 shall result in a reduction of any payments or benefits
to which the Executive may be entitled upon termination of employment under any circumstances other than as specified in this Section 6,
or a reduction in the payments and benefits specified in Section 5 below zero.

 

(b)          Section
7 of this Agreement contains protective covenants of Executive to refrain from certain activities deemed harmful to the Employer
for a set period of time in exchange for promises contained herein. If the Executive is deemed eligible to receive Covered Payments
under this Agreement that could be subject to the Excise Tax, the Employer shall seek a valuation from the Accountants to determine
the value of any such protective covenants and such amount shall be allocated to such arrangements and be excluded from treatment
as a Parachute Payment. For the avoidance of doubt, it is the intention of this Agreement that the value assigned to any such protective
covenants by the Accountants not be considered a Parachute Payment for purposes of this Section 6.

 

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(c)          Any
determination required under this Section 6 shall be made in writing in good faith by the Accountants. The Employer and the Executive
shall provide the Accountants with such information and documents as the Accountants may reasonably request in order to make a
determination under this Section 6. For purposes of making the calculations and determinations required by this Section 6, the
Accountants may rely on reasonable, good faith assumptions and approximations concerning the application of Sections 280G and 4999
of the Code. The Accountants’ determinations shall be final and binding on the Employer and the Executive.

 

(d)          In
the event that the provisions of Sections 280G and 4999 of the Code or any successor provisions are repealed without succession,
this Section 6 shall be of no further force or effect.

 

7.            Protective
Covenants. The Executive shall abide by and be bound by the following protective covenants:

 

(a)          The
Bank and Executive acknowledge that the Bank shall disclose during the Employment Period, or has already disclosed, to Executive
for use in Executive’s employment, and that during the Employment Period Executive will be provided access to and otherwise
make use of, acquire, create, or add to certain valuable, unique, proprietary, and secret information of the Bank (whether tangible
or intangible and whether or not electronically kept or stored), including financial statements, drawings, designs, manuals, business
plans, processes, procedures, formulas, inventions, pricing policies, customer and prospect lists and contacts, contracts, sources
and identity of vendors and contractors, financial information of customers of the Bank, and other proprietary documents, materials,
or information indigenous to the Bank, relating to its businesses and activities, or the manner in which the Bank does business,
which is valuable to the Bank in conducting its business because the information is kept confidential and is not generally known
to the Bank’s competitors or to the general public (the “Confidential Information”). Confidential Information
does not include information generally known or easily obtained from public sources or public records, unless Executive causes
the Confidential Information to become generally known or easily obtained from public sources or public records. To the extent
that the Confidential Information rises to the level of a trade secret under applicable law, then Executive shall, during Executive’s
employment and for so long as the Confidential Information remains a trade secret under applicable law (or for the maximum period
of time otherwise allowed by applicable law) (i) protect and maintain the confidentiality of such trade secrets and (ii) refrain
from disclosing, copying, or using any such trade secrets, without the Bank’s prior written consent, except as necessary
in Executive’s performance of Executive’s duties while employed with the Bank. To the extent that the Confidential
Information does not rise to the level of a trade secret under applicable law, Executive shall, during Executive’s employment
and for a period of two years following any voluntary or involuntary termination of employment, (i) protect and maintain the confidentiality
of the Confidential Information and (ii) refrain from disclosing, copying, or using any Confidential Information without the Bank’s
prior written consent, except as necessary in Executive’s performance of Executive’s duties while employed with the
Bank.

 

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(b)          Upon
any voluntary or involuntary termination of Executive’s employment (or at any time upon request by the Bank), Executive agrees
to immediately return to the Bank all property of the Bank (including, without limitation, all documents, electronic files, records,
computer drives or disks or other tangible or intangible things that may or may not relate to or otherwise comprise Confidential
Information or trade secrets, as defined by applicable law) that Executive created, used, possessed or maintained while working
for the Bank from whatever source and whenever created, including all reproductions or excerpts thereof.

 

(c)          During
the Employment Period and for a period of twelve (12) months thereafter, Executive agrees not to, directly or indirectly, in the
Territory, contact, solicit, divert, appropriate, or call upon, the customers, clients or tangible prospects (prospects recorded
on a report by the Executive or the Bank either electronically or not) of the Bank, (i) to solicit such customers or clients or
prospective customers or clients for a Competitive Business (including, without limitation, any Competitive Business started by
Executive) or (ii) to otherwise encourage any such customer or client or prospective customer or client to discontinue, reduce,
or adversely alter the amount of its business with the Bank, Executive acknowledges that, due to Executive’s relationship
with the Bank, Executive will develop, or has developed, direct or indirect reports to Executive will develop, or have developed,
special contacts and relationships with the Bank’s customers, clients and prospects, and that it would be unfair and harmful
to the Bank if Executive took advantage of these relationships.

 

(d)          During
the Employment Period and for a period of twelve (12) months thereafter, Executive covenants and agrees that Executive shall not,
directly or indirectly : (i) solicit, recruit, or hire (or attempt to solicit, recruit, or hire) or otherwise assist anyone in
soliciting, recruiting, or hiring, any employee or independent contractor (which shall not include non-exclusive outside vendors)
of the Bank who performed work for the Bank within the last six (6) months of Executive’s employment with the Bank or who
was otherwise engaged or employed with the Bank at the time of said termination of employment of Executive or (ii) otherwise encourage,
solicit, or support any such employees or independent contractors to leave their employment or engagement with the Bank, in either
case until such employee or contractor has been terminated or separated from the Bank for at least twelve (12) months.

 

(e)          During
the Employment Period and, unless (i) the Executive’s employment is terminated by the Bank for Cause or (ii) the Executive
terminates his employment hereunder other than for Good Reason, for a period of twelve (12) months thereafter, Executive covenants
and agrees that Executive shall not, directly or indirectly, compete with the Bank, as an officer, director, member, principal,
partner, shareholder (other than a shareholder in a company that is publicly traded and so long as such ownership is less than
five percent (5%), owner, manager, supervisor, administrator, employee, consultant, or independent contractor, by working in the
Territory for or as a Competitive Business in the Territory, in a capacity identical or substantially similar to the capacity in
which Executive served at the Bank.

 

(f)          During
the Employment Period and for a period of twelve (12) months thereafter, the Bank agrees that it will not issue any statement (written
or oral) that could reasonably be perceived as disparaging to the Executive. During the Employment Period and for a period of twelve
(12) months thereafter, the Executive agrees that he will not make any statement (written or oral) that could reasonably be perceived
as disparaging to the Bank or any person or entity that he reasonably should know is an affiliate of the Bank.

 

    	 	11	 

     

    

 

(g)          It
is understood and agreed by Executive that the Bank and Executive have attempted to limit his right to compete only to the extent
necessary to protect the Bank from unfair competition. It is acknowledged that the purpose of these covenants and promises is (and
that they are necessary) to protect the Bank’s legitimate business interests, to protect the Bank’s investment in the
overall development of its business and the good will of its customers, and to protect and retain (and to prevent Executive from
unfairly and to the detriment of the Bank utilizing or taking advantage of) such business trade secrets and Confidential Information
of the Bank and those substantial contacts and relationships (including those with customers and employees of the Bank) which Executive
established due to his employment with the Bank. Therefore, in addition to any other remedies, Executive agrees that any violation
of the covenants in this Section 7 result in the immediate forfeiture of any remaining payment that otherwise is or may become
due under this Agreement, if applicable. Executive further agrees that should he breach any of the covenants contained in this
Section 7, no further amounts will be paid to Executive pursuant hereto and Executive shall repay to the Bank any amounts previously
received by Executive hereunder that are attributable to that portion of the payments paid for the period during which Executive
was in breach of any of the covenants. The Bank and Executive agree that all remedies available to the Bank or Executive, as applicable,
shall be cumulative. Executive acknowledges that these covenants and promises (and their respective time, geographic, and/or activity
limitations) are reasonable and that said limitations are no greater than necessary to protect said legitimate business interests
in light of Executive’s position with the Bank and the Bank’s business, and Executive agrees to strictly abide by the
terms hereof. If any provision of this Agreement is ruled invalid or unenforceable by a court of competent jurisdiction because
of a conflict between the provision and any applicable law or public policy, the provision shall be redrawn to make the provision
consistent with, and valid and enforceable under, the law or public policy.

 

(h)          Notwithstanding
anything in this Agreement to the contrary, (i) nothing in this Agreement, including but not limited to the Release, or other agreement
prohibits Executive from reporting possible violations of law or regulation to any governmental agency or entity, including but
not limited to the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General
(the “Government Agencies”), or communicating with Government Agencies or otherwise participating in any investigation
or proceedings that may be conducted by Government Agencies, including providing documents or other information; (ii) Executive
does not need the prior authorization of the Bank to take any action described in subsection (i), and Executive is not required
to notify the Bank that he has taken any action described in subsection (i); and (iii) neither this Agreement nor any release signed
by Executive limits Executive’s right to receive an award for providing information relating to a possible securities law
violation to the Securities and Exchange Commission. Further, notwithstanding the foregoing, Executive will not be held criminally
or civilly liable under any federal, state or local trade secret law for the disclosure of a trade secret that (1) is made (y)
in confidence to a federal, state or local official, either directly or indirectly, or to an attorney; and (z) solely for the purpose
of reporting or investigating a suspected violation or law; or (2) is made in a compliant or other document filed in a lawsuit
or other proceeding, if such filing is made under seal. Additionally, if Executive is suing the Bank for retaliation based on the
reporting of a suspected violation, of law, he may disclose a trade secret to his attorney and use the trade secret information
in the court proceeding, so long as any document containing the trade secret is filed under seal and Executive does not disclose
the trade secret except pursuant to court order.

 

    	 	12	 

     

    

 

(i)          The
Bank or Executive shall have the right to apply to any court of competent jurisdiction for injunctive relief with respect to the
enforcement of the covenants and agreements set forth in this Section 7. This remedy shall be in addition to, and not in limitation
of, any other rights or remedies to which the Bank or Executive are or may be entitled at law or in equity respecting this Agreement.

 

8.            Mitigation;
Exclusivity of Benefits.

 

(a)          The
Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor
shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another
employer after the Date of Termination or otherwise, except as set forth in Sections 5(e)(B) and 5(f)(B) above.

 

(b)          The
specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive
upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or the Corporation or otherwise.

 

9.            Withholding.
All payments required to be made by the Bank hereunder to the Executive shall be subject to the withholding of such amounts, if
any, relating to tax and other payroll deductions as the Bank shall determine are required to be withheld pursuant to any applicable
law or regulation.

 

10.         Section
409A.

 

(a)          This
Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided
in a manner that is either exempt from or compliant with the requirements of Section 409A of the Code and applicable Internal Revenue
Service guidance and Treasury Regulations issued thereunder. Nevertheless, the tax treatment of the benefits provided under the
Agreement is not warranted or guaranteed. Neither the Bank nor its directors, officers, employees, or advisers shall be held liable
for any taxes, interest, penalties, or other monetary amounts owed by the Executive as a result of the application of Section 409A
of the Code.

 

(b)          Notwithstanding
any provision in the Agreement to the contrary, to the extent necessary to avoid the imposition of tax on the Executive under Section
409A of the Code, any payments that are otherwise payable to the Executive within the first six (6) months following the Date of
Termination, shall be suspended and paid as soon as practicable following the end of the six-month period following the Date of
Termination if, immediately prior to the Executive’s termination, the Executive is determined to be a “specified employee”
(within the meaning of Section 409A(a)(2)(B)(i) of the Code) of the Bank (or any related “service recipient” within
the meaning of Section 409A of the Code and the regulations thereunder). Any payments suspended by operation of the foregoing sentence
shall be paid as a lump sum within thirty (30) days following the end of such six-month period. Payments (or portions thereof)
that would be paid latest in time during the six-month period will be suspended first.

 

    	 	13	 

     

    

 

(c)          The
Bank shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4) to
the Executive of deferred amounts, provided that such distribution meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).

 

11.          Legal
Fees. If, after a Change in Control, it appears to Executive that (a) the Employer has failed to comply with any of its obligations
under this Agreement, or (b) the Employer or any other person (other than Executive) has taken any action to declare this Agreement
void or unenforceable, or instituted any litigation or other legal action designed to deny, diminish, or to recover from Executive
the benefits intended to be provided to Executive hereunder (including any payment pursuant to Section 5 of this Agreement), the
Employer irrevocably authorizes Executive from time to time to retain counsel of his choice, at the Employer’s expense, to
represent Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against
the Employer or any of its affiliated companies or any director, officer, shareholder, or other person affiliated with the Employer.
Executive shall give the Employer notice within ten (10) days after retaining any such counsel. The fees and expenses of counsel
selected from time to time by Executive as provided in this Section 11 shall be paid or reimbursed to Executive by the Employer,
whether suit or an arbitration proceeding has been brought or not. The Employer’s obligation to pay Executive’s legal
fees provided by this Section 11 operates separately from and in addition to any legal fee reimbursement obligation the Employer
has with Executive under any separate severance or other agreement.

 

12.         Assignability.
The Bank may assign this Agreement and its rights and obligations hereunder in whole, but not in part, to any corporation, bank
or other entity with or into which the Bank may hereafter merge or consolidate or to which the Bank may transfer all or substantially
all of its assets, if in any such case said corporation, bank or other entity shall by operation of law or expressly in writing
assume all obligations of the Bank hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign
this Agreement or its rights and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or
obligations hereunder.

 

13.         Notice.
For the purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage
prepaid, addressed to the respective addresses set forth below:

 

	To the Bank:	Secretary
	 	Home Bank, N.A.
	 	503 Kaliste Saloom
	 	Lafayette, Louisiana 70508
	 	 
	To the Executive:	Joseph B. Zanco
	 	At the address last appearing on
	 	the personnel records of the Employer

 

    	 	14	 

     

    

 

14.         Amendment;
Waiver. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge
is agreed to in writing signed by the Executive and such officer or officers as may be specifically designated by the Bank Board
to sign on its behalf. No waiver by any party hereto at any time of any breach by any other party hereto of, or compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time.

 

15.         Governing
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the United
States where applicable and otherwise by the substantive laws of the State of Louisiana.

 

16.         Nature
of Obligations. Nothing contained herein shall create or require the Bank to create a trust of any kind to fund any benefits
which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Bank hereunder,
such right shall be no greater than the right of any unsecured general creditor of the Bank.

 

17.         Headings.
The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

 

18.         Validity.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provisions of this Agreement, which shall remain in full force and effect.

 

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

 

20.         Regulatory
Actions and Prohibitions. The following provisions shall be controlling in the event of a conflict with any other provision
of this Agreement, including without limitation Section 5 hereof.

 

(a)          Notwithstanding
any other provision of this Agreement to the contrary, any payments made to the Executive pursuant to this Agreement, or otherwise,
are subject to and conditioned upon their compliance with Section 18(k) of the FDIA (12 U.S.C. §1828(k)) and 12 C.F.R. Part
359 (collectively, the “Golden Parachute Restrictions”). In the event any such payments become due and payable
under this Agreement at a time when such payments would constitute “golden parachute payments,” other than “golden
parachute payments” for which the concurrence or consent of the appropriate federal banking agency has been received as contemplated
by the Golden Parachute Restrictions, the obligation on the part of the Employer to make any such payments shall become null and
void.

 

(b)          If
the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs
pursuant to notice served under Section 8(e) or Section 8(g) of the Federal Deposit Insurance Act (“FDIA”)(12
U.S.C. §§1818(e) and 1818(g)), the Bank shall have the right to suspend all obligations of the Bank under this Agreement
as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank shall
reinstate prospectively (in whole or in part) any of its obligations which were suspended.

 

    	 	15	 

     

    

 

(c)          If
the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs
by an order issued under Section 8(e) or Section 8(g) of the FDIA (12 U.S.C. §§1818(e) and (g)), the Bank shall have
the right to terminate all obligations of the Bank under this Agreement as of the effective date of such order, except for payment
of the Accrued Obligations.

 

(d)          If
the Bank is in default, as defined in Section 3(x)(1) of the FDIA (12 U.S.C. §1813(x)(1)), all obligations under this Agreement
shall terminate as of the date of default, but vested rights of the Executive and the Bank as of the date of termination shall
not be affected.

 

(e)          All
obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5), except to the extent that it is
determined that continuation of the Agreement for the continued operation of the Bank is necessary: (i) by the Comptroller of the
Currency, or his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an
agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA (12 U.S.C.
 §1823(c)); or (ii) by the Comptroller of the Currency, or his/her designee, at the time the Comptroller of the Currency or
his/her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined
by the Comptroller of the Currency to be in an unsafe or unsound condition, but vested rights of the Executive and the Employer
as of the date of termination shall not be affected.

 

(f)          Any
payments suspended by operation of this Section 20 shall be paid as a lump sum within thirty (30) days following receipt of the
concurrence or consent of the appropriate federal banking agency of the Bank or as otherwise directed by such federal banking agency.

 

(g)          All
obligations under this Agreement are further subject to such conditions, restrictions, limitations and forfeiture provisions as
may separately apply pursuant to any applicable state banking laws.

 

21.         Changes
in Statutes or Regulations. If any statutory or regulatory provision referenced herein is subsequently changed or re-numbered,
or is replaced by a separate provision, then the references in this Agreement to such statutory or regulatory provision shall be
deemed to be a reference to such section as amended, re-numbered or replaced.

 

22.         Entire
Agreement. This Agreement embodies the entire agreement between the Bank and the Executive with respect to the matters agreed
to herein. All prior agreements between the Bank and the Executive with respect to the matters agreed to herein, including but
not limited to the Prior Agreement, are hereby superseded and shall have no force or effect.

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF,
this Agreement has been executed as of the date first written above.

 

	Attest:	 	HOME BANK, N.A.
	 	 	 	 
	/s/ Daniel G. Guidry	 	By:	/s/ Michael P. Maraist
	Daniel G. Guidry	 	 	Michael P. Maraist
	Corporate Secretary	 	 	Chairman of the Board
	 	 	 
	 	 	EXECUTIVE
	 	 	 	 
	 	 	By:	/s/ Joseph B. Zanco
	 	 	 	Joseph B. Zanco

 

    	 	17Exhibit 10.7

 

HOME BANK, N.A.

AMENDED AND RESTATED

SALARY CONTINUATION AGREEMENT

 

THIS AMENDED AND RESTATED
SALARY CONTINUATION AGREEMENT (this “Agreement”) is adopted effective as of the 20th day of May, 2019, by
and between HOME BANK N.A., a national bank located in Lafayette, Louisiana (the “Bank”), and JOHN W. BORDELON (the
 “Executive”).

 

WITNESSETH: 

 

WHEREAS, the Bank and
the Executive previously entered into the Home Bank Salary Continuation Agreement effective as of August 1, 2007 (the “Prior
Agreement”);

 

WHEREAS, the Bank and
the Executive may amend the Prior Agreement pursuant to Section 8.1 thereof;

 

WHEREAS, the Bank and
the Executive now desire to amend the Prior Agreement to (i) eliminate the pre-retirement death benefit and (ii) amend and restate
the claims procedures;

 

WHEREAS, the purpose
of this Agreement is to provide specified benefits to the Executive, a member of a select group of management or highly compensated
employees who contribute materially to the continued growth, development and future business success of the Bank; and this Agreement
shall be unfunded for tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974 (“ERISA”),
as amended from time to time; and

 

WHEREAS, this Agreement
amends and restates and supersedes the Prior Agreement in its entirety.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants herein contained, it is hereby agreed by and between the Bank and the Executive
as follows:

 

     

     

    

 

Article 1

Definitions

 

Whenever used in this
Agreement, the following words and phrases shall have the meanings specified:

 

		1.1	“Accrual Balance” means the liability that should be accrued by the Bank, under
accounting principles generally accepted in the United States (“GAAP”), for the Bank’s obligation to the Executive
under this Agreement, by applying Accounting Principles Board Opinion Number 12 (“APB 12”) as amended by Statement
of Financial Accounting Standards Number 106 (“FAS 106”) and the Discount Rate. Any one of a variety of amortization
methods may be used to determine the Accrual Balance. However, once chosen, the method must be consistently applied.

 

		1.2	“Beneficiary” means each designated person or entity, or the estate of the deceased
Executive, entitled to any benefits upon the death of the Executive pursuant to Article 4.

 

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

 

		1.4	“Board” means the Board of Directors of the Bank as from time to time constituted.

 

		1.5	“Change in Control” means a change in the ownership of the Bank, a change in
the effective control of the Bank or a change in the ownership of a substantial portion of the assets of the Bank, in each case
as provided under Section 409A of the Code and the regulations thereunder, provided that any mutual to stock conversion of the
Bank shall not be deemed to be a Change in Control, and provided further that following any mutual to stock conversion of the Bank,
all references to the Bank in this Section 1.5 shall also include any holding company for the Bank formed in connection with such
conversion.

 

		1.6	“Code” means the Internal Revenue Code of 1986, as amended, and all regulations
and guidance thereunder, including such regulations and guidance as may be promulgated after the Effective Date.

 

		1.7	“Disability” means the Executive: (i) is 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 twelve (12) months; or (ii) is, 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 twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months
under an accident and health plan covering employees or directors of the Bank. Medical determination of Disability may be made
by either the Social Security Administration or by the provider of disability insurance covering employees or directors of the
Bank, provided that the definition of “disability” applied under such insurance program complies with the requirements
of the preceding sentence. Upon the request of the Plan Administrator, the Executive must submit proof to the Plan Administrator
of the Social Security Administration’s or the provider’s determination.

 

		1.8	“Discount Rate” means the rate used by the Plan Administrator for determining
the Accrual Balance. The initial Discount Rate is six percent (6%). However, the Plan Administrator, in its discretion, may adjust
the Discount Rate to maintain the rate within reasonable standards according to GAAP and/or applicable bank regulatory guidance.

 

		1.9	“Early Termination” means the Executive’s Separation from Service before
attainment of Normal Retirement Age except when such Separation from Service occurs on or following a Change in Control, because
the Executive experiences a Disability, or due to Termination for Cause.

 

		1.10	“Effective Date” means May 20, 2019.

 

    	 	2	 

     

    

 

		1.11	“ERISA” means the Employee Income Security Act of 1974, as amended, and all
regulations and guidance thereunder, including such regulations and guidance as may be promulgated after the Effective Date.

 

		1.12	“Normal Retirement Age” means the date the Executive reaches age sixty-two (62).

 

		1.13	“Plan Administrator” means the Board or such committee or person as the Board
shall appoint.

 

		1.14	“Plan Year” means each twelve (12) month period commencing on August 1 and ending
on July 31 of each year.

 

		1.15	“Separation from Service” means termination of the Executive’s employment
with the Bank. Whether a Separation from Service has occurred shall be determined in accordance with the requirements of Code Section
409A based on whether the facts and circumstances indicate that the Bank and the Executive reasonably anticipated that no further
services would be performed after a certain date or that the level of bona fide services the Executive would perform after such
date (whether as an employee or as an independent contractor) would permanently decrease to no more than twenty percent (20%) of
the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding
thirty-six (36) month period (or the full period of services to the Bank if the Executive has been providing services to the Bank
less than thirty-six (36) months). In the event the Bank converts from mutual to stock form and forms a holding company in connection
with such conversion, then all references to the Bank in this Section 1.15 shall also include such holding company, so that any
services which the Executive provides to such holding company shall be taken into account for purposes of determining whether or
not a Separation from Service has occurred.

 

		1.16	“Specified Employee” means an employee who at the time of Separation from Service
is a key employee of the Bank or of any holding company for the Bank, if any stock of the Bank or any such holding company is publicly
traded on an established securities market or otherwise. For purposes of this Agreement, an employee is a key employee if the employee
meets the requirements of Code Section 416(i)(1)(A)(i), (ii) or (iii) (applied in accordance with the regulations thereunder and
disregarding Section 416(i)(5)) at any time during the twelve (12) month period ending on December 31 of any year (the “identification
period”). If the employee is a key employee during an identification period, the employee is treated as a key employee for
purposes of this Agreement during the twelve (12) month period that begins on the first day of April following the close of the
identification period.

 

		1.17	“Termination for Cause” means Separation from Service due to the Executive’s:

 

		(a)	Gross negligence or gross neglect of duties to the Bank;

		(b)	Conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the
Executive’s employment with the Bank; or

		(c)	Personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal
profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations
or similar offenses) or final cease-and-desist order.

 

    	 	3	 

     

    

 

Article 2

Distributions During Lifetime

 

		2.1	Normal Retirement Benefit. Following a Separation from Service on or after the Executive’s
Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.1 in lieu of any other
benefit under this Article.

 

		2.1.1	Amount of Benefit at Normal Retirement Age. The annual benefit under this Section 2.1 is
One Hundred Eighty Thousand Dollars ($180,000).

 

	Amount of Benefit after Normal Retirement Age:
	 	After Age 63 and before age 64 is $191,000
	 	After Age 64 and before age 65 is $202,000
	 	After Age 65 is $214,000.

 

		2.1.2	Distribution of Benefit. The Bank shall distribute the annual benefit to the Executive in
twelve (12) equal monthly installments commencing on the first day of the month following a Separation from Service on or after
Normal Retirement Age, subject to Section 2.5 hereof. The annual benefit shall be distributed to the Executive for ten (10) years.

 

		2.2	Early Termination Benefit. If Early Termination occurs, the Bank shall distribute to the
Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.

 

		2.2.1	Amount of Benefit. The benefit under this Section 2.2 is a percentage of the amount described
in the first sentence of Section 2.1.1, calculated according to the following table:

 

	Date of Separation from Service	 	Percent of Normal Retirement Benefit	 
	Before August 1, 2008	 	 	50	%
	After July 31, 2008 and before August 1, 2009	 	 	55	%
	After July 31, 2009 and before August 1, 2010	 	 	60	%
	After July 31, 2010 and before August 1, 2011	 	 	65	%
	After July 31, 2011 and before August 1, 2012	 	 	70	%
	After July 31, 2012 and before August 1, 2013	 	 	75	%
	After July 31, 2013 and before August 1, 2014	 	 	80	%
	After July 31, 2014 and before August 1, 2015	 	 	85	%
	After July 31, 2015 and before August 1, 2016	 	 	90	%
	After July 31, 2016 and before August 1, 2017	 	 	95	%
	After July 31, 2017	 	 	100	%

 

    	 	4	 

     

    

 

		2.2.2	Distribution of Benefit. The Bank shall distribute the annual benefit to the Executive in
twelve (12) equal monthly installments commencing on the first day of the month following Normal Retirement Age, subject to Section
2.5 hereof. The annual benefit shall be distributed to the Executive for ten (10) years.

 

		2.3	Disability Benefit. If the Executive experiences a Disability prior to (a) a Separation
from Service on or after Normal Retirement Age or (b) Early Termination, and other than on or within twenty-four (24) months following
a Change in Control, the Bank shall distribute to the Executive the benefit described in this Section 2.3 in lieu of any other
benefit under this Article.

 

		2.3.1	Amount of Benefit. The benefit under this Section 2.3 is a percentage of the amount described
in the first sentence of Section 2.1.1, determined according to the following table:

 

	Date of Disability	 	 	Percent of Normal Retirement Benefit	 
	Before August 1, 2008	 	 	 	50	%
	After July 31, 2008 and before August 1, 2009	 	 	 	56.25	%
	After July 31, 2009 and before August 1, 2010	 	 	 	62.5	%
	After July 31, 2010 and before August 1, 2011	 	 	 	68.75	%
	After July 31, 2011 and before August 1, 2012	 	 	 	75	%
	After July 31, 2012 and before August 1, 2013	 	 	 	81.25	%
	After July 31, 2013 and before August 1, 2014	 	 	 	87.5	%
	After July 31, 2014 and before August 1, 2015	 	 	 	93.75	%
	After July 31, 2015	 	 	 	100	%

 

		2.3.2	Distribution of Benefit. The Bank shall distribute the annual benefit to the Executive in
twelve (12) equal monthly installments commencing on the first day of the month following Normal Retirement Age. The annual benefit
shall be distributed to the Executive for ten (10) years.

 

		2.4	Change in Control Benefit. If a Change in Control occurs, followed by a Separation from
Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in
lieu of any other benefit under this Article.

 

    	 	5	 

     

    

 

		2.4.1	Amount of Benefit. The benefit under this Section 2.4 is one hundred percent (100%) of the
Normal Retirement Benefit amount described in Section 2.1.1.

 

		2.4.2	Distribution of Benefit.

 

		2.4.2.1	Separation Occurs within 2 Years after a Change in Control. If a Separation from Service
occurs within twenty-four (24) months following a Change in Control, the Bank shall distribute the annual benefit to the Executive
in twelve (12) equal monthly installments commencing on the first day of the month following the earlier of (i) the date twenty-four
(24) months following the Separation from Service and (ii) Normal Retirement Age, subject to Section 2.5 hereof. The annual benefit
shall be distributed to the Executive for ten (10) years.

 

		2.4.2.2	Separation Occurs after 2 Years after a Change in Control. If a Separation from Service
occurs more than twenty-four (24) months after a Change in Control, the Bank shall distribute the annual benefit to the Executive
in twelve (12) equal monthly installments commencing on the first day of the month following Normal Retirement Age, subject to
Section 2.5 hereof. The annual benefit shall be distributed to the Executive for ten (10) years.

 

		2.4.3	Parachute Payments. Notwithstanding any provision of this Agreement to the contrary, and
to the extent allowed by Code Section 409A, if any benefit payment under this Section 2.4 would be treated as an “excess
parachute payment” under Code Section 280G, the Bank shall reduce such benefit payment to the extent necessary to avoid treating
such benefit payment as an excess parachute payment.

 

		2.5	Restriction on Commencement of Distributions. Notwithstanding any provision of this Agreement
to the contrary, if the Executive is considered a Specified Employee, the provisions of this Section 2.5 shall govern all distributions
hereunder. If benefit distributions which would otherwise be made to the Executive due to a Separation from Service are limited
because the Executive is a Specified Employee, then such distributions shall not be made during the first six (6) months following
the Separation from Service. Rather, any distribution which would otherwise be paid to the Executive during such period shall be
accumulated and paid to the Executive in a lump sum on the first day of the month following the lapse of six months after the Separation
from Service. All subsequent distributions shall be paid in the manner specified.

 

		2.6	Distributions Upon Taxation of Amounts Deferred. If, pursuant to Code Section 409A or other
state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank shall make a
limited distribution to the Executive in a manner that conforms to the requirements of Code Section 409A. Any such distribution
will decrease the Executive’s benefits distributable under this Agreement.

 

    	 	6	 

     

    

 

		2.7	Change in Form or Timing of Distributions. For distribution of benefits under this Article
2, the Executive and the Bank may, subject to the terms of Section 8.1, amend this Agreement to delay the timing or change the
form of distributions. Any such amendment:

 

		(a)	may not accelerate the time or schedule of any distribution, except as provided in Code Section
409A;

		(b)	must, for benefits distributable under Sections 2.1 and 2.2, be made at least twelve (12) months
prior to the first scheduled distribution;

		(c)	must, for benefits distributable under Sections 2.1, 2.2 and 2.4, delay the commencement of distributions
for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and

		(d)	must take effect not less than twelve (12) months after the amendment is made.

 

Article 3

Distribution at Death

 

		3.1	Death During Active Service. If the Executive dies prior to a Separation from Service or
experiencing a Disability, then no benefits shall be paid under this Agreement.

 

		3.2	Death During Distribution of a Benefit. If the Executive dies after any benefit distributions
have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the
remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive
survived.

 

		3.3	Death Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions
under this Agreement but dies prior to the date that commencement of said benefit distributions are scheduled to be made under
this Agreement, the Bank shall distribute to the Beneficiary the same benefits to which the Executive was entitled prior to death,
except that the benefit distributions shall commence on the earlier of (a) the first day of the fourth month following the Executive’s
death, or (b) the date the benefits would have commenced if the Executive had not died.

 

Article 4

Beneficiaries

 

		4.1	In General. The Executive shall have the right, at any time, to designate a Beneficiary
to receive any benefit distributions under this Agreement upon the death of the Executive. The Beneficiary designated under this
Agreement may be the same as or different from the beneficiary designated under any other plan of the Bank in which the Executive
participates.

 

		4.2	Designation. The Executive shall designate a Beneficiary by completing and signing the Beneficiary
Designation Form and delivering it to the Plan Administrator or its designated agent. If the Executive names someone other than
the Executive’s spouse as a Beneficiary, the Plan Administrator may, in its sole discretion, determine that spousal consent
is required to be provided in a form designated by the Plan Administrator, executed by the Executive’s spouse and returned
to the Plan Administrator. 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 Plan Administrator’s rules and procedures. Upon the acceptance by the Plan Administrator of a new Beneficiary
Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to
rely on the last Beneficiary Designation Form filed by the Executive and accepted by the Plan Administrator prior to the Executive’s
death.

 

    	 	7	 

     

    

 

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

 

		4.4	No Beneficiary Designation. If the Executive dies without a valid beneficiary designation,
or if all designated Beneficiaries predecease the Executive, then the Executive’s spouse shall be the designated Beneficiary.
If the Executive has no surviving spouse, any benefit shall be paid to the Executive’s estate.

 

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

 

Article 5

General Limitations

 

		5.1	Termination for Cause. Notwithstanding any provision of this Agreement to the contrary,
the Bank shall not distribute any benefit under this Agreement if the Executive’s employment with the Bank is terminated
by the Bank or an applicable regulator due to a Termination for Cause.

 

		5.2	Suicide or Misstatement. No benefit shall be distributed if the Executive commits suicide
within two (2) years after the Effective Date, or if an insurance company which issued a life insurance policy covering the Executive
and owned by the Bank denies coverage (i) for material misstatements of fact made by the Executive on an application for such life
insurance, or (ii) for any other reason.

 

		5.3	Removal. Notwithstanding any provision of this Agreement to the contrary, the Bank shall
not distribute any benefit under this Agreement if the Executive is subject to a final removal or prohibition order issued by an
appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act. Notwithstanding anything herein
to the contrary, any payments made to the Executive pursuant to this Agreement, or otherwise, shall be subject to and conditioned
upon compliance with 12 U.S.C. §1828 and FDIC Regulation 12 C.F.R. Part 359, Golden Parachute Indemnification Payments and
any other regulations or guidance promulgated thereunder.

 

    	 	8	 

     

    

 

Article 6

Administration of Agreement

 

		6.1	Plan Administrator Duties. The Plan Administrator shall administer this Agreement according
to its express terms and 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 to the extent the exercise of such discretion and authority does
not conflict with Code Section 409A.

 

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

 

		6.3	Binding Effect of Decisions. Any decision or action of the Plan Administrator with respect
to any question arising out of or in connection with the administration, interpretation or 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.

 

		6.4	Indemnity of Plan Administrator. The Bank shall indemnify and hold harmless the Plan Administrator
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 Plan Administrator.

 

		6.5	Bank Information. To enable the Plan Administrator to perform its functions, the Bank shall
supply full and timely information to the Plan Administrator on all matters relating to the date and circumstances of the Executive’s
death, Disability or Separation from Service, and such other pertinent information as the Plan Administrator may reasonably require.

 

		6.6	Annual Statement. The Plan Administrator shall provide to the Executive, within one hundred
twenty (120) days after the end of each Plan Year, a statement setting forth the benefits to be distributed under this Agreement.

 

Article 7

Claims And Review Procedures

 

		7.1	Notice of Denial.

 

		7.1.1	If Executive or a Beneficiary (a “claimant”) is denied a claim for benefits
under this Agreement, the Claims Administrator shall provide to the claimant written notice of the adverse benefit determination
(whether such claim is denied in whole or in part) within a reasonable period of time but no later than ninety (90) days after
the Claims Administrator receives the claim. However, under special circumstances (to be determined by the Claims Administrator),
the Claims Administrator may extend the time for processing the claim to a day no later than one hundred eighty (180) days after
the Claims Administrator receives the claim. The claimant shall be notified in writing within the initial 90-day period of the
need to extend the time for review, the special circumstances requiring an extension, and the date by which a decision is expected.

 

    	 	9	 

     

    

 

		7.1.2	With respect to a claim for benefits due to Executive experiencing a Disability, the Claims Administrator
shall provide to the claimant written notice of the adverse benefit determination within a reasonable period of time but no later
than forty-five (45) days after the Claims Administrator receives the claim. This 45-day period may be extended up to thirty (30)
days if an extension is necessary due to matters beyond the control of the Claims Administrator (to be determined by the Claims
Administrator) and the claimant is notified, prior to the expiration of the initial 45-day period, of the circumstances requiring
the extension of time and the date by which the Claims Administrator expects to render a decision. If, prior to the end of the
first 30-day extension period, the Claims Administrator determines that, due to matters beyond the control of the Claims Administrator
(to be determined by the Claims Administrator), a decision cannot be rendered within that extension period, the period for making
the determination may be extended for up to an additional thirty (30) days, provided that the Claims Administrator notifies the
claimant, prior to the expiration of the initial 30-day extension period, of the circumstances requiring the extension and the
date as of which the Claims Administrator expects to render a decision. In the case of any such extension, the notice of extension
shall also specifically explain the standards on which entitlement to a benefit is based, the unresolved issues that prevent a
decision on the claim, and the additional information needed to resolve those issues, and the claimant shall have at least forty-five
(45) days within which to provide the specified information, if any.

 

		7.2	Contents of Notice of Denial. If a claimant is denied a claim for benefits under this Agreement,
the Claims Administrator shall provide to such claimant written notice of the denial. Any such notice of an adverse benefit determination
shall be written in a manner calculated to be understood by the claimant (and with respect to a claim for benefits due to Executive
experiencing a Disability, be provided in a culturally and linguistically appropriate manner) and shall set forth:

 

		7.2.1	the specific reason or reasons for the denial;

 

		7.2.2	specific references to the pertinent provisions of this Agreement on which the denial is based;

 

		7.2.3	a description of any additional material or information necessary for the claimant to perfect the
claim and an explanation of why such material or information is necessary;

 

    	 	10	 

     

    

 

		7.2.4	an explanation of this Agreement’s claim review procedures, and the time limits applicable
to such procedures, including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following
an adverse benefit determination on review;

 

		7.2.5	in the case of a claim for benefits due to Executive experiencing a Disability:

 

		(i)	a discussion of the decision, including an explanation of the basis for disagreeing with or not
following: the views presented by the claimant to the Claims Administrator of health care professionals treating the claimant and
vocational professionals who evaluated the claimant, the views of medical or vocational experts whose advice was obtained on behalf
of the Claims Administrator in connection with a claimant’s adverse benefit determination, without regard to whether the
advice was relied upon in making the benefit determination, and a disability determination regarding the claimant presented by
the claimant to the Claims Administrator made by the Social Security Administration;

 

		(ii)	if the adverse benefit determination is based on a medical necessity or experimental treatment
or similar exclusion or limit, either an explanation of the scientific or clinical judgment for the determination, applying the
terms of the Agreement to the claimant’s medical circumstances, or a statement that such explanation will be provided free
of charge upon request in writing;

 

		(iii)	the specific internal rules, guidelines, protocols, standards or other similar criteria of the
Claims Administrator relied upon in making the adverse determination, or, alternatively, a statement that such rules, guidelines,
protocols, standards or other similar criteria of the Claims Administrator do not exist; and

 

		(iv)	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 to the claimant’s claim for benefits.

 

		7.3	Right to Review. After receiving written notice of the denial of a claim, a claimant or
his representative shall be entitled to:

 

		7.3.1	submit written comments, documents, records, and other information relating to the denied claim
to the Claims Administrator or Appeals Fiduciary, as applicable; and

 

		7.3.2	request, free of charge, reasonable access to, and copies of, all documents, records, and other
information relevant to the claim

 

		7.3.3	request a full and fair review of the denial of the claim by written application to the Claims
Administrator (or Appeals Fiduciary in the case of a claim for benefits payable due to Executive experiencing a Disability), which
shall include:

 

    	 	11	 

     

    

 

		(i)	a review that takes into account all comments, documents, records, and other information submitted
by the claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit
determination; and

 

		(ii)	in the case of a claim for benefits due to Executive experiencing a Disability:

 

(1)       before
issuing an adverse benefit determination on review, providing the claimant, free of charge with any new or additional evidence
considered, relied upon, or generated by the Claims Administrator or other person making the benefit determination (or at the direction
of the Claims Administrator or such other person) in connection with the claim as soon as possible and sufficiently in advance
of the date on which the notice of adverse benefit determination on review is required to be provided to give the claimant a reasonable
opportunity to respond prior to that date; and

 

(2)       before
issuing an adverse benefit determination on review based on a new or additional rationale, providing the claimant, free of charge,
with the rationale as soon as possible and sufficiently in advance of the date on which the notice of adverse benefit determination
on review is required to be provided to give the claimant a reasonable opportunity to respond prior to that date.

 

		7.4	Application for Review.

 

		7.4.1	If a claimant wishes a review of the decision denying his claim to benefits under this Agreement,
other than a claim described in Section 7.4.2, he must submit the written application to the Claims Administrator within sixty
(60) days after receiving written notice of the denial.

 

		7.4.2	If the claimant wishes a review of the decision denying his claim to benefits under this Agreement
due to Executive experiencing a Disability, he must submit the written application to the Appeals Fiduciary within one hundred
eighty (180) days after receiving written notice of the denial.

 

		7.5	Hearing. Upon receiving such written application for review, the Claims Administrator or
Appeals Fiduciary, as applicable, may schedule a hearing for purposes of reviewing the claimant’s claim, which hearing shall
take place not more than thirty (30) days from the date on which the Claims Administrator or Appeals Fiduciary received such written
application for review.

 

		7.6	Notice of Hearing. At least ten (10) days prior to the scheduled hearing, the claimant and
his representative designated in writing by him, if any, shall receive written notice of the date, time, and place of such scheduled
hearing. The claimant or his representative, if any, may request that the hearing be rescheduled, for his convenience, on another
reasonable date or at another reasonable time or place.

 

		7.7	Counsel. All claimants requesting a review of the decision denying their claim for benefits
may employ counsel for purposes of the hearing.

 

    	 	12	 

     

    

 

		7.8	Decision on Review. No later than sixty (60) days (forty-five (45) days with respect to
a claim for benefits due to Executive experiencing a Disability) following the receipt of the written application for review, the
Claims Administrator or the Appeals Fiduciary, as applicable, shall submit its decision on the review in writing to the claimant
involved and to his representative, if any, unless the Claims Administrator or Appeals Fiduciary determines that special circumstances
(such as the need to hold a hearing) require an extension of time, to a day no later than one hundred twenty (120) days (ninety
(90) days with respect to a claim for benefits due to Executive experiencing a Disability) after the date of receipt of the written
application for review. If the Claims Administrator or Appeals Fiduciary determines that the extension of time is required, the
Claims Administrator or Appeals Fiduciary shall furnish to the claimant written notice of the extension before the expiration of
the initial sixty (60) day (forty-five (45) days with respect to a claim for benefits due to Executive experiencing a Disability)
period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the
Claims Administrator or Appeals Fiduciary expects to render its decision on review. In the case of a decision adverse to the claimant,
the Claims Administrator or Appeals Fiduciary shall provide to the claimant written notice of the denial. Any such notice of an
adverse benefit determination shall be written in a manner calculated to be understood by the claimant (and with respect to a claim
for benefits due to Executive experiencing a Disability, be provided in a culturally and linguistically appropriate manner) and
shall include:

 

		7.8.1	the specific reason or reasons for the adverse benefit determination;

 

		7.8.2	specific references to the pertinent provisions of this Agreement on which the adverse benefit
determination is based;

 

		7.8.3	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 to the claimant’s claim for benefits;

 

		7.8.4	a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA
following the adverse benefit determination on review;

 

		7.8.5	a statement regarding the availability of other voluntary alternative dispute resolution options;

 

		7.8.6	in the case of a claim for benefits due to Executive experiencing a Disability:

 

		(i)	a description of any contractual limitations period that applies to the claimant’s right
to bring a civil action under Section 502(a) of ERISA, including the calendar date on which the contractual limitations period
expires for the claim;

 

		(ii)	a discussion of the decision, including an explanation of the basis for disagreeing with or not
following: the views presented by the claimant to the Claims Administrator of health care professionals treating the claimant and
vocational professionals who evaluated the claimant, the views of medical or vocational professionals whose advice was obtained
on behalf of the Claims Administrator in connection with a claimant’s adverse benefit determination, without regard to whether
the advice was relied upon in making the determination, and a disability determination regarding the claimant presented by the
claimant to the Claims Administrator made by the Social Security Administration;

 

    	 	13	 

     

    

 

		(iii)	if the adverse benefit determination is based on a medical necessity or experimental treatment
or similar exclusion or limit, either an explanation of the scientific or clinical judgment for the determination, applying the
terms of the Agreement to the claimant’s medical circumstances, or a statement that such explanation will be provided free
of charge upon request; and

 

		(iv)	the specific internal rules, guidelines, protocols, standards or other similar criteria of the
Claims Administrator relied upon in making the adverse determination, or a statement that such rules, guidelines, protocols, standards
or other similar criteria do not exist.

 

The Claims Administrator
has the discretionary authority to determine all interpretative issues arising under this Agreement and the interpretations of
the Claims Administrator shall be final and binding upon Executive or any other party claiming benefits under this Agreement.

 

		7.9	Calculating Time Periods. The period of time within which a benefit determination initially
or on review is required to be made shall begin at the time a claim or request for review is filed in accordance with the procedures
of the Agreement, without regard to whether all the information necessary to make a benefit determination accompanies the filing.
In the event that a period of time is extended due to the failure of a claimant to submit information necessary to decide a claim
or review, the period for making the benefit determination shall be tolled from the date on which the notification of the extension
is sent to the claimant until the date on which the claimant responds to the request for additional information.

 

		7.10	Standards for Culturally and Linguistically Appropriate Notices. With respect to any notices
required to be provided in a culturally and linguistically appropriate manner, the Claims Administrator shall provide (i) oral
language services in the applicable non-English language (that include answering questions in any applicable non-English language
and providing assistance with filing claims in any applicable non-English language), (ii) a statement in the applicable non-English
language, prominently displayed on notices, explaining how to access language services and (iii) notices in the applicable non-English
language upon request. For this purpose, a non-English language is an applicable non-English language if 10% or more of the population
residing in the county for which the notice is sent is literate only in the same non-English language.

 

		7.11	Adjudication of Disability Benefit Claims: Independence and Impartiality. All claims and
appeals with respect to benefits due to Executive experiencing a Disability shall adjudicated in a manner designed to ensure the
independence and impartiality of the persons involved in making the decision. Accordingly, decisions regarding hiring, compensation,
termination, promotion, or other similar matters with respect to any individual (such as a claims adjudicator or medical or vocational
expert) shall not be based upon the likelihood that the individual will support the denial of benefits.

 

    	 	14	 

     

    

 

		7.12	Exhaustion of Administrative Remedies Available under the Agreement.

 

		7.12.1	In no event will Executive be entitled to challenge the Claims Administrator’s decision in
court or any other proceeding unless and until these claims procedures are exhausted. The Executive then shall have one hundred
eighty (180) days from the date of receipt of the Claims Administrator’s decision on appeal in which to file suit regarding
a claim for benefits under this Agreement. If suit is not filed within such one hundred eighty (180)-day period, it shall be forever
barred.

 

		7.12.2	Notwithstanding the foregoing, in the case of a claim for benefits due to Executive experiencing
a Disability, if the Claims Administrator or Appeals Fiduciary, as applicable, fails to strictly adhere to all the applicable requirements
hereunder, the claimant is deemed to have exhausted the administrative remedies available under the Agreement, except as provided
in the paragraph below with respect to de minimis violations. If the claimant chooses to pursue remedies under Section 502(a) of
ERISA under such circumstances, the claim or appeal is deemed denied on review without the exercise of discretion by an appropriate
fiduciary.

 

The administrative remedies available under
the Agreement will not be deemed exhausted based on de minimis violations that do not cause, and are not likely to cause, prejudice
or harm to the claimant, provided the Claims Administrator demonstrates that the violation was for good cause or due to matters
beyond the control of the Claims Administrator and that the violation occurred in the context of an ongoing, good faith exchange
of information between the Claims Administrator and the claimant. A violation shall not be de minimis if it is part of a pattern
or practice of violations by the Claims Administrator. The claimant may request a written explanation of the violation from the
Claims Administrator, and the Claims Administrator must provide such explanation within ten (10) days, including a specific description
of its bases, if any, for asserting that the violation should not cause the available administrative remedies to be deemed exhausted.
If a court rejects the claimant’s request for immediate review on the basis that the Claims Administrator met the standards
for the de minimis exception the claim shall be considered as refiled on appeal upon the Claims Administrator’s receipt of
the court’s decision. Within a reasonable time after the receipt of the decision, the Claims Administrator shall provide
the claimant with notice of the resubmission.

 

		7.13	Definitions. For purposes of the Agreement’s claims procedures, the following words
and phrases shall have the respective meanings set forth below:

 

		7.13.1	“Adverse benefit determination” means any of the following: a denial, reduction
or termination of, or a failure to provide or make payment (in whole or in part) for, a benefit, including any such denial, reduction,
termination, or failure to provide or make payment that is based on a determination of a claimant’s eligibility to participate
in a plan and with respect to a claim for benefits due to Executive experiencing a Disability, shall also mean any rescission of
disability coverage with respect to a Participant or Beneficiary (whether or not there is an adverse effect on any particular benefit
at that time), where rescission means a cancellation or discontinuance of coverage that has retroactive effect, except to the extent
it is attributable to a failure to timely pay required premiums or contributions towards the cost of coverage.

 

    	 	15	 

     

    

 

		7.13.2	“Appeals Fiduciary” means an individual or group of individuals appointed by
the Claims Administrator to review appeals of claims for benefits payable due to the Executive experiencing a Disability.

 

		7.13.3	“Claims Administrator” means the Board or such other person designated by the
Board from time to time and named by notice to Executive.

 

		7.13.4	A document, record, or other information shall be considered “relevant” to a
claimant’s claim if such document, record, or other information (A) was relied upon in making the benefit determination,
(B) was submitted, considered, or generated in the course of making the benefit determination, without regard to whether such document,
record, or other information was relied upon in making the benefit determination, (C) demonstrates compliance with the administrative
processes and safeguards required in making the benefit determination, or (D) in the case of a claim for benefits due to Executive
experiencing a Disability, constitutes a statement of policy or guidance with respect to the Agreement concerning the denied treatment
option or benefit for the claimant’s diagnosis, without regard to whether such advice or statement was relied upon in making
the benefit determination.

 

		7.14	Person Authorized to Act on Behalf of Claimant. The Claims Administrator may establish reasonable
procedures to permit an authorized person to act on behalf of the claimant (and for determining whether a person has been authorized
to act on behalf of a claimant).

 

Article 8

Amendments and Termination

 

		8.1	Amendments. This Agreement may be amended only by a written agreement signed by the Bank
and the Executive. However, the Bank may unilaterally amend this Agreement to conform with written directives to the Bank from
banking regulators or to comply with legislative changes or tax law, including without limitation Code Section 409A.

 

		8.2	Plan Termination Generally. This Agreement may be terminated only by a written agreement
signed by the Bank and the Executive. The benefit shall be the Accrual Balance as of the date this Agreement is terminated. Except
as provided in Section 8.3, the termination of this Agreement shall not cause a distribution of benefits under this Agreement.
Rather, upon such termination benefit distributions will be made at the earliest distribution event permitted under Article 2 or
Article 3.

 

    	 	16	 

     

    

 

		8.3	Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section
8.2, if the Bank irrevocably terminates this Agreement in the following circumstances:

 

		(a)	Within thirty (30) days before or twelve (12) months after a Change in Control, provided that all
distributions are made no later than twelve (12) months following such irrevocable termination of this Agreement and further provided
that all of the arrangements sponsored by the Bank that would be aggregated with this Agreement under Treasury Regulation §1.409A-1(c)(2)
are terminated so the Executive and all participants under the other aggregated arrangements are required to receive all amounts
of compensation deferred under the terminated arrangements within twelve (12) months of the date the Bank irrevocably takes all
necessary action to terminate such arrangements;

		(b)	Within twelve (12) months of a dissolution of the Bank taxed under Section 331 of the Code or with
the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the amounts deferred under this Agreement
are included in the Executive’s gross income in the latest of (i) the calendar year in which this Agreement terminates; (ii)
the calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first calendar year
in which the distribution is administratively practicable; or

		(c)	Upon the Bank’s termination of this and all other arrangements that would be aggregated with
this Agreement pursuant to Treasury Regulation §1.409A-1(c) if the Executive participated in such arrangements (“Similar
Arrangements”), provided that (i) the termination and liquidation does not occur proximate to a downturn in the financial
health of the Bank, (ii) no payments are made within twelve (12) months of the termination of the arrangements other than payments
that would be payable under the terms of the arrangements if the termination had not occurred, (iii) all termination distributions
are made no later than twenty-four (24) months following such termination, and (iv) the Bank does not adopt any new arrangement
that would be a Similar Arrangement for a minimum of three (3) years following the date the Bank takes all necessary action to
irrevocably terminate and liquidate the Agreement;

 

the Bank may distribute the Accrual
Balance, determined as of the date of the termination of this Agreement, to the Executive in a lump sum subject to the above terms.

 

Article 9

Miscellaneous

 

		9.1	Binding Effect. This Agreement shall bind the Executive and the Bank and their beneficiaries,
survivors, executors, administrators and transferees.

 

		9.2	No Guarantee of Employment. This Agreement is not a contract for employment. It does not
give the Executive the right to remain as an employee of the Bank nor interfere with the Bank’s right to discharge the Executive.
It does not require the Executive to remain an employee nor interfere with the Executive’s right to terminate employment
at any time.

 

    	 	17	 

     

    

 

		9.3	Non-Transferability. Benefits under this Agreement cannot be sold, transferred, assigned,
pledged, attached or encumbered in any manner.

 

		9.4	Tax Withholding and Reporting. The Bank shall withhold any taxes that are required to be
withheld, including but not limited to taxes owed under Code Section 409A from the benefits provided under this Agreement. The
Executive acknowledges that the Bank’s sole liability regarding taxes is to forward any amounts withheld to the appropriate
taxing authorities. The Bank shall satisfy all applicable reporting requirements, including those under Code Section 409A.

 

		9.5	Applicable Law. This Agreement and all rights hereunder shall be governed by the laws of
the State of Louisiana, except to the extent that the laws of the United States of America are applicable.

 

		9.6	Unfunded Arrangement. The Executive and the Beneficiary are general unsecured creditors
of the Bank for the distribution of benefits under this Agreement. The benefits represent the mere promise by the Bank to distribute
such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, attachment or garnishment by creditors. Any insurance on the Executive’s life or other informal funding asset
is a general asset of the Bank to which the Executive and Beneficiary have no preferred or secured claim.

 

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

 

		9.8	Entire Agreement. This Agreement constitutes the entire agreement between the Bank and the
Executive as to the subject matter hereof. No rights are granted to the Executive by virtue of this Agreement other than those
specifically set forth herein.

 

		9.9	Interpretation. Wherever the fulfillment of the intent and purpose of this Agreement requires
and the context will permit, the use of the masculine gender includes the feminine and use of the singular includes the plural.

 

		9.10	Alternative Action. In the event it shall become impossible for the Bank or the Plan Administrator
to perform any act required by this Agreement due to regulatory or other constraints, the Bank or Plan Administrator may perform
such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Bank,
provided that such alternative act does not violate Code Section 409A.

 

		9.11	Headings. Article and section headings are for convenient reference only and shall not control
or affect the meaning or construction of any provision herein.

 

		9.12	Validity. If any provision of this Agreement shall be illegal or invalid for any reason,
said illegality or invalidity shall not affect the remaining parts hereof, but this Agreement shall be construed and enforced as
if such illegal or invalid provision had never been included herein.

 

    	 	18	 

     

    

 

		9.13	Notice. Any notice or filing required or permitted to be given to the Bank or Plan Administrator
under this Agreement shall be sufficient if in writing and hand-delivered or sent by registered or certified mail to the address
below:

 

Board of Directors

Home Bank, N. A.

503 Kaliste Saloom

Lafayette, Louisiana 70508

 

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 on 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.

 

		9.14	Compliance with Section 409A. This Agreement shall be interpreted and administered consistent
with Code Section 409A.

 

[Remainder of Page Intentionally Left Blank]

 

    	 	19	 

     

    

 

IN WITNESS WHEREOF,
the Executive and a duly authorized representative of the Bank have signed this Agreement.

 

	EXECUTIVE	 	HOME BANK, N.A.
	 	 	 
	/s/ John W. Bordelon	 	By:	/s/ Michael P. Maraist
	John W. Bordelon	 	Title:	Chairman of the Board

 

    	 	20

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