Document:

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                        STOCK YARDS BANK & TRUST COMPANY

                               STOCK OPTION PLAN

STOCK YARDS BANK & TRUST COMPANY, a banking corporation organized and existing
under the laws of the Commonwealth of Kentucky, hereby adopts the following
Stock Option Plan for certain of its officers and key employees:

        1. DEFINITIONS.

        Unless otherwise required by the context, as used herein:

        (a) "Bank" means Stock Yards Bank & Trust Company, a Kentucky, banking
corporation

        (b) "Board" means the Board of Directors of the Bank.

        (c) "Code" means the Internal Revenue Code of 1954, as amended.

        (d) "Committee" means the Stock Option Plan Committee administering the
Plan.

        (e) "Incentive Stock Option" or "ISO" means an "incentive stock option"
as contemplated by and defined in Section 422A(b) of the Code.

        (f) "Option Price" means the price to be paid for Stock upon exercise of
an ISO or RSO.

        (g) "Optionee" means an individual to whom an ISO or RSO is granted
under the Plan.

        (h) "Plan" means this Stock Yards Bank & Trust Company Stock Option
Plan.

        (i) "Regular Stock Option" or "RSO" means a right to purchase Stock
granted under the Plan which does not constitute an "incentive stock option" as
contemplated by and defined in Section 422A(b) of the Code.

        (j) "Stock" means the Common Stock of the Bank, currently having a par
value of $10 per share.

        (k) "Subsidiary" means any company or companies whose relationship to
the Bank, whether established before or after adoption of the Plan, is such that
the Bank would be deemed to be the "parent corporation" of such company or
companies within the meaning of 8425(e) of the Code.

        2. PURPOSE OF THE PLAN.

        The Plan is intended to advance the interests of the Bank by providing
officers and other key employees who have substantial responsibility for the
direction and management of the Bank with additional incentives for high levels
of performance so as to promote the success of the Bank, to Increase their
proprietary interest in such success, to encourage them to remain in the Bank's
employ, and to recognize the past contributions of such officers and key
employees to the

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success of the Bank. It is intended that the aims of the Plan be effectuated
through the granting of two (2) types of options under the Plan: Incentive Stock
Options and Regular Stock Options.

        3. ADMINISTRATION OF THE PLAN.

        The Plan shall be administered, construed and interpreted by the
Committee. All members of the Board shall be members of the Committee, except
that no member of the Board who is eligible for selection as an Optionee shall
be a member of the Committee. The decision of a majority of the members of the
Committee shall constitute the decision of the Committee and the Committee may
act either at a meeting at which a majority of the members of the Committee if;
present, or by a writing signed by all members of the Committee. The Committee
shall have the sole, final and conclusive authority, consistent with and subject
to the provisions of the Plan, to determine:

        (a) The Optionees to whom IS0s or RSOs shall be granted under the Plan;

        (b) The number of shares of the Stock to be granted under each ISO or
RSO;

        (c) The Option Price to be paid for the Stock upon the exercise of each
ISO or RSO;

        (d) The terms and conditions of each ISO or RSO between the Bank and an
Optionee.

        4. ELIGIBILITY.

        The officers and other key employees of the Bank or any Subsidiary,
opinion of the Committee, are from time to time materially responsible for the
management of the business of the Bank or any Subsidiary, shall be eligible to
be granted ISOs or RSOs under the Plan. No member of the Board who is not also a
full time employee of the Bank or a Subsidiary shall be eligible for selection
as an Optionee.

        5. STOCK SUBJECT TO PLAN.

        The aggregate number of authorized but unissued shares of Stock which
may be issued and delivered under the Plan shall not exceed Twenty-Four Thousand
(24.000) shares pursuant to the exercise of ISOs and Six Thousand (6,000) shares
pursuant to the exercise of RSOs; subject, however, in each case. To adjustment
to reflect a change in capitalization of the Bank.shall terminate for any reason
as to any shares of Stock, such shares may again be subjected to an option under
the Plan.

        6. TERMS OF OPTIONS.

        (a) Each option granted under the Plan shall be evidenced by a written
agreement (an "Incentive Stock Option Grant and Agreement" for 1S0s and. a
"Regular Stock Option Grant and Agreement" for RSOs) between the Bank and the
Optionee stating the total number of shares of Stock to which it pertains.
Except as may be otherwise provided in such agreement, an ISO or RSO may be
exercised in whole or in part at any time or times during its term, but no
option may be exercised for a fractional share of Stock.

        (b) All RSOs granted under the Plan shall contain such terms and
conditions not inconsistent with the Plan as the Committee may deem appropriate
in each case; provided, that the per share Option Price under each RSO shall be
not less than the par value of the Stock at the time the RSO is granted.

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        (c) All ISOs granted under the Plan shall be subject to the following
terms and conditions, and to such other terms and conditions not inconsistent
with the Plan as the Committee may deem appropriate in each case:

        (i) OPTION PRICE. The Option Price under each ISO shall be determined by
the Committee at the time the ISO is granted, but in no event shall such Option
Price be less than 100% of the fair market value of the Stock on the date of
grant. If the Stock is traded in the over-the-counter market, such fair market
value shall be deemed to be the mean between the asked and the bid prices on
such day as reported by NASDAQ. If the Stock is traded on an exchange, such fair
market value shall be deemed to be the closing price on that exchange on the
date of the grant. If the Stock is neither traded in the over-the-counter market
or on an exchange, then such fair market value shall be that determined by the
Committee in good faith.

        (ii) GRANT AND TERMINATION. No ISO shall be granted after ten (10) years
from the earlier of the date ,the Plan is adopted by the Board or approved by
the shareholders of the Bank. An ISO shall terminate, and is not thereafter
exercisable, at the earliest of the following times:

        (1) ten (10) years after the date of grant;

        (2) one (1) year after the date of termination of the Optionee's
employment with the Bank or any Subsidiary, whether by death, retirement,
permanent or total disability (within the meaning of Section 105(d)(4) of the
Code) or any other reason;

        (3) any earlier time set by the grant.

        Leave of absence approved by the Committee or a transfer of employment
from the Bank to parent corporation or any Subsidiary or from a Subsidiary to
the Bank, parent corporation or any other Subsidiary, shall not constitute
termination of employment.

        Upon the death of an Optionee, any ISO granted to such deceased Optionee
may be exercised by the Optionee's estate or by the person or persons entitled
thereto by will or by applicable laws of descent and distribution ("Optionee
Representative"), to the full extent such ISO was exercisable on the date of
Optionee's death so long as the ISO is exercised within the time specified in
this Section 6(c)(ii).

        (iii) OUTSTANDING OPTIONS. No ISO shall be exercisable so long as there
is outstanding (within the meaning of Section 422A(c)(7) of the Code) in the
hands of the Optionee any Incentive Stock Option which was granted before the
granting of such ISO to such Optionee to purchase shares of stock in the Bank or
in a corporation which (at the time of the granting of such ISO) is a parent or
subsidiary corporation of the Bank or is a predecessor corporation of any of
such corporations. For purposes of this Section 6(c)(iii), any Incentive Stock
Option shall be treated as outstanding until such option is exercised in full or
expires by reason of lapse of time.

        (iv) MAXIMUM AMOUNT. The aggregate fair market value (determined as of
the time an ISO is granted) of the shares of Stock for which any Optionee may be
granted an ISO in any calendar year (under this or any other Incentive Stock
Option plan established by the Bank and its parent and any Subsidiary) shall not
exceed $100,000 plus any "unused limit carryover" (as defined in Section 422A of
the Code) to such year.

        (v) EXERCISE AND TRANSFERABILITY. An ISO may be exercised during the
lifetime of the Optionee only by the Optionee, and after the death of the
Optionee, only as provided in Section 6(c)(ii) above. No ISO shall be
transferable except by will or the laws of descent and distribution, and then
only to the extent provided herein.

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        (vi) 10% SHAREHOLDERS. No ISO shall be granted to any Optionee who, at
the time of such grant, owns stock possessing more than 10% of the total
combined voting power of all classes of stock of the Bank or any Subsidiary,
unless at the time of such grant, the Option Price is fixed at not less than
110% of the fair market value of the Stock subject to the ISO, and exercise of
such option is prohibited by its terms after the expiration of five (5) years
from the date such ISO is granted.

        7. ADJUSTMENT OF SHARES; REORGANIZATION.

        (a) The aggregate number of shares of Stock which may be issued and
delivered pursuant to exercise of options under the Plan, the shares of stock
subject to any outstanding ISO or RSO, and the Option Price per share, shall all
be proportionately adjusted for any increase or decrease in the number of issued
shares of Stock subsequent to the effective date of the Plan resulting from (1)
a subdivision or consolidation of shares or any other capital adjustment, (2)
the payment of a stock dividend, or (3) any other increase or decrease in such
shares.

        (b) If the Bank shall be the surviving corporation in any merger or
consolidation, any outstanding ISO or RSO shall pertain, apply, and relate to
the securities to which a holder of the number of shares of Stock subject to the
ISO or RSO would have been entitled after the merger or consolidation.

        (c) Upon dissolution or liquidation of the Bank, or upon a merger or
consolidation in which the Bank is not the surviving corporation, all ISOs and
RSOs outstanding under the Plan shall terminate, PROVIDED, that each Optionee or
Optionee Representative shall have the right, prior to such dissolution or
liquidation, or such merger or consolidation, to exercise his ISO or RSO in
whole or in part.

        8. EXERCISE OF OPTION; EMPLOYEES' AND OPTIONEES' RIGHTS.

        (a) Subject to the provisions of Section 9 below concerning Alternative
Option Settlement Provisions, an ISO or RSO granted under the Plan shall be
exercised by a written notice thereof, delivered in person or mailed by
certified mail, return receipt requested, to the Bank accompanied by payment of
the Option Price in cash or certified funds. Such notice shall be signed by the
Optionee, Optionee Representative or holder of the option, as the case may be,
contain such representations and agreements, if any, as may be required pursuant
to the provisions of Section 12(b) below, and state the number of shares of
Stock with respect to which the ISO or RSO is being exercised, the person or
persons in whose name or names the certificates for Stock are to be registered,
such persons' names and respective tax identification numbers and such other
information as the Committee may from time to time prescribe.

        (b) No employee or other person shall have any claim or right to be
granted an ISO or RSO under the Plan except as the Committee shall have
conferred in its discretion in the administration of the Plan. Participation in
the Plan shall not confer upon any Optionee any right with respect to
continuation of employment by the Bank or any Subsidiary or parent corporation,
nor interfere with the right of the Bank or such Subsidiary or parent
corporation to terminate at any time the employment of any Optionee. An ISO or
RSO shall not confer any rights as a shareholder upon the holder thereof, except
only as to shares of Stock actually delivered pursuant to the Plan.

        (c) Subject to the provisions of Section 9 below, promptly after
exercise of an ISO or RSO and the payment in cash or certified funds of the
Option Price, the Optionee, Optionee Representative or holder of the option
shall be entitled to the issuance of a stock certificate evidencing his
ownership of such shares of Stock. An Optionee, Optionee Representative or
holder of the option shall have none of the rights of a shareholder until shares
are issued to him,

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and no adjustment will be made for dividends or other rights
for which the record date is prior to the date such stock certificate is issued
except as provided in the Plan.

        9. ALTERNATIVE OPTION SETTLEMENT PROVISIONS.

        Each Optionee, Optionee Representative or holder of the option may, by
written notice addressed and delivered to the Committee at the office of the
Bank, request that, in lieu of exercising an ISO or an RSO, he or she receive
shares of Stock, cash, or a combination of Stock and cash, having a fair market
value equal to the amount by which the fair market value of the shares of Stock
subject to the option at the time of such request exceeds the Option Price (the
"Option Settlement"), as follows:

        (a) The Committee shall, in its sole discretion, determine whether to
permit an Option Settlement in lieu of exercising the ISO or the RSO and, if the
Committee so determines, to determine what portion of the Option Settlement
shall be in cash and what portion shall be in shares of Stock.

        (b) For the purpose of calculating the amount of the Option Settlement,
the fair market value of a share of Stock shall be determined on the date the
written notice referred to above is received by the Committee.

        (c) Upon the payment of a Settlement Option, the ISO or the RSO
concerning which the Settlement Option was paid shall be cancelled the same as
if such option had been exercised in full..

        10. EXPIRATION AND TERMINATION OF THE PLAN.

        Except as provided in Section 6(c) above, options may be granted under
the Plan at any time or from time to time as long as the total number of shares
optioned or purchased under this Plan does not exceed the number of shares
provided for in Section 5 above. The Plan may be abandoned or terminated at any
time by the Committee except with respect to any options then outstanding under
the Plan.

        11. AMENDMENT.

        The Committee may amend the Plan from time to time, except that, without
the approval of the holders of a majority of the shares represented and entitled
to be voted at a duly held meeting of the shareholders of the Bank:

        (a) The maximum number of shares of Stock which may be issued or
delivered under the Plan may not be changed except as provided in the Plan;

        (b) The Option Price under any ISO or RSO may not be changed except as
provided in the Plan;

        (c) The period during which an ISO may be exercised may not be extended
beyond the period provided in Section 6(c) above; and

        (d) The provisions relating to those persons eligible to be granted ISOs
or RSOs under the Plan shall not be changed.

        No amendment of the Plan may, however, without the consent of the
Optionee, Optionee Representative or holder of the option, as the case may be,
make any changes in any outstanding

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ISO or RSO theretofore granted under the Plan which would adversely affect the
rights of such Optionee, Optionee Representative or holders of the options.

        12. PRIVILEGES OF STOCK OWNERSHIP; SECURITIES LAWS.

        (a) No Optionee, Optionee Representative or holder of the option shall
be entitled to the privilege of stock ownership as to any shares of Stock not
actually issued and delivered to them.

        (b) Each ISO and RSO granted under the Plan shall be subject to
satisfaction of and no shares of Stock shall be purchased upon the exercise of
any ISO or RSO or issued by the Bank unless and until all applicable
requirements for the registration or exemption from registration under the
Securities Act of 1933 and applicable state securities laws of the shares of
Stock issuable upon exercise of each such option, and any other applicable
regulations of regulatory agencies having jurisdiction have been satisfied. Such
requirements may include at the discretion of the Committee, a representation
and warranty by the Optionee, Optionee Representative or holder of the option
that the shares of Stock being purchased are being acquired for investment and
not with a view to the distribution thereof and placement on the shares of the
Stock such legends or other restrictive endorsements as legal counsel for the
Bank shall deem necessary or proper.

        13. TAX WITHHOLDING.

        The Bank shall have the right to deduct any sums required by federal,
state or local tax laws to be withheld due to the exercise of any ISO or RSO
but, in the alternative, the Optionee, Optionee Representative or holder of the
option may elect to pay such sums to the Bank at the time of exercise of the ISO
or RSO. There is no obligation hereunder that Optionees, Optionee
Representatives or holders of the option be advised of the existence of the tax
or the amount which the Bank may be so required to withhold.

        14. GOVERNING LAW AND INTERPRETATION.

        (a) The Plan and the option agreements referred to herein shall be
governed by, and construed in accordance with, the laws of the Commonwealth of
Kentucky.

        (b) The terms of the Plan applicable to Incentive Stock Options are
subject to all present and future regulations and rulings of the Secretary of
the Treasury or his delegate relating to the qualification of Incentive Stock
Options under Section 422A of the Code. If any provision of the Plan relating to
IS0s conflicts with said Section 422A or any such regulations or rulings, then
that provision of the Plan shall, to the extent it is applicable to Incentive
Stock Options hereunder, be void and of no effect.

        15. EFFECTIVE DATE.

        The Plan shall be adopted and become effective upon approval by the
Board and shall be submitted for approval and ratification by the affirmative
vote of the holders of a majority of the outstanding shares of the Bank present
or represented by proxy at the annual meeting of the shareholders to be held on
January 8, 1985, or any adjournment thereof. The effective date of each ISO or
RSO shall be the day on which it is granted to any Optionee; provided, however,
if the Plan is not approved at the aforementioned annual meeting of shareholders
or any adjournment thereof, then any options theretofore granted shall be void
and of no effect.

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                          STOCK YARDS BANK & TRUST CO.
                          SENIOR OFFICERS SECURITY PLAN

                                     PURPOSE

     The purpose of the Stock Yards Bank & Trust Co. Senior Officers Security
Plan is to provide specified benefits to a select group of management and highly
compensated Employees who contribute materially to the continued growth,
development and future business success of Stock Yards Bank & Trust Co.

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                          STOCK YARDS BANK & TRUST CO.

                          SENIOR OFFICERS SECURITY PLAN

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                               PAGE
                                                                                               ----
<S>                                 <C>                                                         <C>
ARTICLE I                           DEFINITIONS                                                  1
ARTICLE II                          ELIGIBILITY AND MEMBERSHIP                                   3
ARTICLE III                         DEATH BENEFIT                                                4
ARTICLE IV                          DISABILITY BENEFIT                                           5
ARTICLE V                           RETIREMENT BENEFIT                                           6
ARTICLE VI                          VESTING                                                      7
ARTICLE VII                         SOURCE OF BENEFITS                                           8
ARTICLE VIII                        TERMINATION OF PARTICIPATION                                10
ARTICLE IX                          TERMINATION, AMENDMENT,
                                    MODIFICATION OR SUPPLEMENT
                                    OF PLAN                                                     11
ARTICLE X                           RIGHT TO ACQUIRE INSURANCE                                  12
ARTICLE XI                          ADMINISTRATION OF THE PLAN                                  13
ARTICLE XII                         BENEFICIARY                                                 15
ARTICLE XIII                        LEAVE OF ABSENCE                                            16
ARTICLE XIV                         TERMINATION OF EMPLOYMENT                                   17
ARTICLE XV                          OTHER BENEFITS AND AGREEMENTS                               18
ARTICLE XVI                         RESTRICTIONS ON ALIENATION
                                    OF BENEFITS                                                 19
ARTICLE XVII                        MISCELLANEOUS                                               20
</Table>

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                                    ARTICLE I

                                   DEFINITIONS

     For purposes hereof, unless otherwise clearly apparent from the context,
the following phrases or terms shall have the indicated meanings:

     1.1  "Beneficiary" shall mean the person or persons or the estate of a
Member entitled to receive any benefits under this Plan.

     1.2  "Committee" shall mean the Administrative Committee appointed to
manage and administer the Plan, in accordance with the provisions of Article XIV
hereof.

     1.3  "Bank" shall mean the Stock Yards Bank & Trust Co.

     1.4  "Employee" shall mean any person who is in the regular full time
employment of the Bank as determined by the personnel rules and practices of the
Bank. The term does not include persons who are retained by the Bank as
consultants only.

     1.5  "Member" shall mean an Employee who is selected and elects to
participate in the Plan as provided in Article II hereof.

     1.6  "Plan" shall mean the Stock Yards Bank & Trust Co. Senior Officer
Security Plan.

     1.7  "Plan Agreement" shall mean the form of written agreement, attached
hereto as Exhibit 1 and Exhibit 2 which is entered into by and between the Bank
and an Employee selected to become a Member as a condition to membership in the
Plan.

     1.8  "Retirement" and "Retire" shall mean severance from employment with
the Bank at or after the attainment of 65 years of age.

     1.9  "Total Disability" of any Employee will mean that the Employee is
unable, because of bodily injuries sustained or disease originating after
becoming a Member of the Plan to perform any and every duty of the Employer's
regular occupation. However, after a period of such Total Disability has
continued for 60 months, the Employee will be deemed to be totally disabled only
if unable, because of such bodily injury or sickness, to perform any and every
duty of any occupation for which the Employee is reasonably fitted by education,
training or experience. The total and irrecoverable loss of the sight of both
eyes, or the use of both hands or both feet or of one hand and one foot, will be
considered Total Disability.

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                                   ARTICLE II

                           ELIGIBILITY AND MEMBERSHIP

     2.1  In order to be eligible for membership in the Plan, an Employee
must be selected by the Committee which, in its sole discretion, shall determine
eligibility for membership in accordance with the purposes of the Plan.

     2.2  An Employee, having been selected for membership by the Committee,
shall, as a condition to membership, complete and return to the Committee a duly
executed Plan Agreement, in the forms attached as Exhibit 1 and Exhibit 2 hereof
electing to participate in the Plan and agreeing to the terms thereof.

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                                   ARTICLE III

                                  DEATH BENEFIT

     3.1  n the event a Member dies before his 65th birthday and the Plan is
in effect at the time, the Bank will pay or cause to be paid a Death Benefit to
such Member's beneficiary in the amount or amounts set forth in his Plan
Agreement and as therein specified, commencing on the first day of the month
following the date of death of the Member, or as otherwise therein specified.

     3.2  The Bank will pay or cause to be paid such Death Benefit only if
(a) at the time of such Member's death prior to age 65, (i) Member was an
Employee and had not retired prior to age 65, or was then on authorized leave of
absence; or (ii) Member was not an Employee but was fully vested pursuant to
Section 6.1 of his termination of employment; (b) such death was due to causes
other than suicide within two (2) years after the date of his Plan Agreement;
and, (c) Member's Plan Agreement had been kept in force until such time of
death.

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                                   ARTICLE IV

                               DISABILITY BENEFIT

     4.1  If an Employee becomes a member prior to attaining age 55 1/2 and
becomes Totally Disabled before age 65, and if such Total Disability continues
for more than six (6) months, such Member will be entitled to the disability
benefit provided in the Employee Plan Agreement for so long as the Total
Disability continues.

     4.2  In the event a Member dies prior to attaining age 65 while
receiving the disability benefit, the Death Benefit provided in Article III will
be paid. If, while receiving disability benefit, a Member attains the age of 65,
and he shall thereupon retire, or if he shall retire before age 65, the
Retirement Benefit provided in Article V will be paid.

     4.3  The determination of what constitutes Total Disability and the
removal thereof for purposes of this Article, shall be made by the Committee, in
its sole discretion in accordance with the definition of Total Disability found
in Section 1.9, and such other information considered relevant by the Bank, and
the Committee's determination shall be conclusive.

     4.4  The Bank will not be obligated to provide a disability benefit for
any reason in the case of an Employee who becomes a Member initially after age
55 1/2.

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                                    ARTICLE V

                               RETIREMENT BENEFIT

     5.1  If (a) (i) a Member has remained an Employee until age 65 and shall
then retire, or (ii) a Member is not an Employee at age 65, but was fully vested
pursuant to Section 6.1 as of his termination of employment; and (b) if the Plan
and his Plan Agreement have been kept in force, the Bank will pay or cause to be
paid to such Member, as a Retirement Benefit, the amount per month set forth in
his Plan Agreement, commencing on the first day of the month following such
Member's retirement, or as his Plan Agreement shall otherwise specify.

     5.2  A member who (i) is not an Employee but was " fully vested pursuant
to Section 6.1 as of the termination of his employment and (ii) has attained age
55 and has not attained age 65 shall be entitled to a Retirement Benefit at an
actuarially reduced amount determined by the Committee, commencing on the first
day of the month following such retirement, or if so provided in the Plan
Agreement, commencing at a later date which shall not be subsequent to the first
day of the calendar month after the Member attained age 65.

     5.3  If a Member shall die after becoming entitled to a Retirement
Benefit (whether retirement is before "or after age 65), but before such
entitlement is fully satisfied, the Retirement Benefit payments then remaining
unpaid to such Member shall be paid to such Member's beneficiary, in accordance
with the payment schedule pursuant to which payments are being made under
Sections 5.1 and 5.2 "

     5.4  If a Member shall die after attaining age 65 but before he retires,
all Retirement Benefit payments which would have been paid had such Member
retired on the date of his death shall be paid to such Member's beneficiary in
accordance with his Plan Agreement, commencing on the first day of the month
following the date of death of such Member.

     5.5  If a Member shall die under the circumstances set forth in
Sections 5.3 and 5.4 above, then no Death Benefit as provided for in Article III
shall be payable to his beneficiary, but such beneficiary shall receive his
Retirement Benefit payments as set forth in said Section; provided, however, a
Member may irrevocably elect, by so indicating in his Plan Agreement, to have
any Retirement Benefit to which he would have become entitled upon retirement to
be accumulated by the Bank and paid to his beneficiary as a Death Benefit at the
time of his death in the manner set forth in his Plan Agreement.

<Page>

                                   ARTICLE VI

                                     VESTING

     6.1  Notwithstanding any provision contained herein which may imply or
specify to the contrary, a Member shall have no right to receive (i) a
Retirement Benefit and (ii) in the case of a Member who is not an Employee, a
Death Benefit or Disability Benefit all as defined herein, unless the member is
fully vested. A member will be fully vested at the earlier of (i) the Member's
attaining age 65 or (ii) the Member's completion of ten (10) years of service
with the Bank.

     6.2  If the employment of a Member is terminated for any reason other
than death, disability or retirement as provided in Articles III, IV and V,
respectively, and if the Member is fully vested as provided in 6.1 above, the
Member may, at the Member's option, and without the consent of the Bank,
continue the benefits of the Plan for the Member by making a contribution to the
Bank in the amount and at the time shown in the Plan Agreement.

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                                   ARTICLE VII

                               SOURCE OF BENEFITS

     7.1  Amounts payable hereunder shall be paid exclusively from the
general assets of the Bank, and no person entitled to payment hereunder shall
have any claim, right, security interest or other interest in any fund, trust,
account, insurance contract, or asset of the Bank which may be looked to for
such payment. The Bank's liability for the payment of benefits hereunder shall
be evidenced only by this Plan and each Plan Agreement entered into between the
Bank and a Member.

     7.2  While the Bank shall not be obligated to invest in any specific
asset or fund, or purchase any insurance policy in order to provide the means
for payment of any liabilities under the Plan, the Bank may elect to do so and,
in such event, no Member shall have any interest whatever in such asset, fund or
insurance policy. In the event the Bank elects to purchase insurance contracts
on the life of a Member as a means of making, offsetting or contributing to any
payment, in full or in part, which may become due and payable by the Bank under
the Plan or a Member's Plan Agreement, such Member agrees to cooperate in the
securing of life insurance on his life by furnishing such information as the
Bank and the insurance carrier may require, including the results and reports of
previous Bank and other insurance carrier physical examinations, taking such
additional physical examinations as may be requested, and taking any other
action which may be requested by the Bank and the insurance carrier to obtain
such insurance coverage. If a Member does not cooperate in the securing of such
life insurance, or if the Bank for any reason is unable to obtain life insurance
in the requested amount on the life of a Member, the Bank shall have no further
obligation to such Member under the Plan and such Member's Plan Agreement shall
terminate.

     7.3  The Bank shall be the sole owner of any insurance policy or
policies acquired on the life of a Member, with all incidents of ownership
therein, including (but not limited to) the right to cash and loan values,
dividends (if any), death benefits, and the right of terminations thereof, and a
Member shall have no interest whatever in such policy or policies (if any), and
shall exercise none of the incidents of ownership thereof.

     7.4  The Bank shall have no obligation of any nature whatsoever to a
Member under the Plan or Member's Plan Agreement, except as otherwise expressly
provided in the Plan, if the Bank purchases life insurance on a Member's life
pursuant to the Plan and the circumstances of the Member's death preclude
payment of death proceeds under the contract.

<Page>

                                  ARTICLE VIII

                          TERMINATION OF PARTICIPATION

     8.1  A Member reserves the right to terminate his participation in the
Plan and his Plan Agreement at his election at any time by giving the Bank
written notice of such termination not less than 30 days (i) prior to the
anniversary date of any policy or policies of insurance on the life of such
Member which may be in force and utilized by the Bank in connection with the
Plan or (ii) prior to the date a Member selects for termination if no insurance
contract or policy is in effect.

<Page>

                                   ARTICLE IX

           TERMINATION, AMENDMENT, MODIFICATION OR SUPPLEMENT OF PLAN

     9.1  The Bank reserves the right to terminate, amend, modify or
supplement this Plan, wholly or partially, and from time to time, at any time.
The Bank likewise reserves the right to terminate, amend, modify or supplement
any Plan Agreement, wholly or partially, and from time to time. Such right to
terminate, amend, modify or supplement the Plan or Plan Agreement shall be
exercised for the Bank by the Committee; provided, however, that:

     (a)  No action to terminate the Plan shall be taken except upon written
notice to each Member to be affected thereby, which notice shall be given not
less than 30 days prior to such action;

     (b)  The Committee shall take no action to terminate the Plan or a Plan
Agreement with respect to a Member or his Beneficiary after the payment of any
benefits pursuant to Article III, Article IV or Article V of this Plan has
commenced and has not been completed.

     9.2  Upon the termination of this Plan or any Plan Agreement,
respectively, by either the Committee or a Member in accordance with the
provisions for such termination, neither the Plan nor the Plan Agreement shall
be of any further force and effect, and no party shall have any further
obligation under either this Plan or any Plan Agreement so terminated, except as
may be provided for in Article X.

<Page>

                                    ARTICLE X

                           RIGHT TO ACQUIRE INSURANCE

     10.1 If the Bank terminates the Plan, and if the Member's Plan
Agreement has been kept in force until such time, and if the Bank, pursuant to
the terms of the Plan, is then utilizing a policy or policies of insurance on
the life of such Member, then the Member, within thirty (30) days after such
termination or discontinuance, shall have the right to acquire ownership of any
such insurance policy or policies, subject to all loans and other charges
outstanding against such policy or policies, including loans made for the
purpose of reimbursing the Bank for interest and other costs incurred as a
result of maintenance of the policy.

<Page>

                                   ARTICLE XI

                           ADMINISTRATION OF THE PLAN

     11.1 The general administration of this Plan, as well as construction
and interpretation thereof, shall be vested in the Committee, the number and
Members of which shall be designated and appointed from time to time by, and
shall serve at the pleasure of the Executive Committee of the Board of Directors
of the Bank. Any such Member of the Committee may resign by notice in writing
filed with the Secretary of the Committee. Vacancies shall be filled promptly by
the Executive Committee of the Board of Directors of the Bank. Each person
appointed a Member of the Committee shall signify his acceptance by filing a
written acceptance with the Secretary of the Committee.

     11.2 The Executive Committee of the Board of Directors of the Bank may
designate one of the Members of the Committee as Chairman and may appoint a
Secretary who need not be a Member of the Committee. The Secretary shall keep
minutes of the Committee's proceedings and all data, records and documents
relating to the Committee's administration of the Plan. The Committee may
appoint from its number such subcommittees with such powers as the Committee
shall determine and may authorize one or more Members of the Committee or any
agent to execute or deliver any instrument or make any payment on behalf of the
Committee.

     11.3 All resolutions or other actions taken by the Committee shall be
by the vote of a majority of those present at a meeting at which a majority of
the Members are present, or in writing by all the Members at the time of office
if they act without a meeting.

     11.4 Subject to the Plan, the Committee shall from time to time
establish rules, forms and procedures for the administration of the Plan. Except
as herein otherwise expressly provided, the Committee shall have the exclusive
right to interpret the Plan and to decide any and all matters arising thereunder
or in connection with the administration of the Plan, and it shall endeavor to
act, whether by general rules or by particular decisions, so as not to
discriminate in favor of or against any person. The Committee shall have the
exclusive right to determine (i) disability in respect of a Member and

     (ii) the degree thereof, either or both determinations to be made on
he basis of such medical and/or other evidence as the Committee, in its sole
judgment, may require. Such decisions, actions and records of the Committee
shall be conclusive and binding upon the Bank and all persons having or claiming
to have any right or interest in or under the Plan.

     11.5 The Members of the Committee and the officers and directors of the
Bank shall be entitled to rely on all certificates and reports made by any duly
appointed accountants, and on all opinions given by any duly appointed legal
counsel. Such legal counsel may be counsel for the Bank.

<Page>

     11.6 No Member of the Committee shall be liable for any act or omission of
any other Member of the Committee, nor for any act or omission on his own part,
excepting only his own willful misconduct. The Bank shall indemnify and save
harmless each Member of the Committee against any and all expenses and
liabilities arising out of his membership on the Committee, excepting only
expenses and liabilities arising out of his own willful misconduct. Expenses
against which a Member of the Committee shall be indemnified hereunder shall
include, without limitation, the amount of any settlement or judgment, costs,
counsel fees, and related charges reasonably incurred in connection with a claim
asserted, or a proceeding brought or settlement thereof. The foregoing right of
indemnification shall be in addition to any other rights to which any such
Member of the Committee may be entitled as a matter of law.

     11.7 In addition to the powers hereinabove specified, the Committee
shall have the power to compute and certify under the Plan the amount and kind
of benefits from time to time payable to Members and their Beneficiaries and to
authorize all disbursements for such purposes.

     11.8 To enable the Committee to perform its functions, the Bank shall
supply full and timely information to the Committee on all matters relating to
the compensation of all Members, their retirement, death or other cause for
termination of employment, and such other pertinent facts as the Committee may
require.

     11.9 The Committee shall also have the power, in its sole discretion,
to change the manner and time of payments to be made to a Member or his
Beneficiary from that set forth in the Member's Plan Agreement, if requested to
do so by such Member or Beneficiary.

<Page>

                                   ARTICLE XII

                                   BENEFICIARY

12.1 A Member shall designate his Beneficiary to receive benefits under the Plan
by completing the appropriate space in the Plan Agreement. If more than one
Beneficiary is named, the shares and/or precedence of, each Beneficiary shall be
indicated. A Member shall have the right to change the Beneficiary by submitting
to the Committee a change of Beneficiary in the form attached as Exhibit 3
hereof; provided, however, no change of beneficiary shall be effective until
acknowledged in writing by the Bank. If the Bank has any doubt as to the proper
Beneficiary to receive payments hereunder, the Bank shall have the right to
withhold such payments until the matter is finally adjudicated. Any payment made
by the Bank, in good faith and in accordance with this Plan, shall fully
discharge the Bank from all further obligations with respect to such payment.

<Page>

                                 ARTICLE XIII

                                LEAVE OF ABSENCE

     13.1 If a Member is authorized by the Bank for any reason, including
military, medical or other, to take a leave of absence from employment, the
leave of absence shall not be counted as service with the Bank for purposes of
Section 6.1.

<Page>

                                   ARTICLE XIV

                            TERMINATION OF EMPLOYMENT

14.1 The Plan and Plan Agreement, either singly or collectively, do not in any
way obligate the Bank or any subsidiary of the Bank to continue the employment
of a Member with the Bank, nor does either limit the right of the Bank at any
time and for any reason to terminate the Member's employment. Termination of a
Member's employment with the Bank for any reason, whether by action of the Bank
or member shall immediately terminate his participation in the Plan and his Plan
Agreement, and all further obligations of either party thereunder, except as may
be provided in Article VI and Article X. In no event shall the Plan or the Plan
Agreement, either singly or collectively, by their terms or implications
constitute an employment contract of any nature whatsoever between the Bank and
a Member.

<Page>

                                   ARTICLE XV

                          OTHER BENEFITS AND AGREEMENTS

     15.1 The benefits provided for a Member and Member's Beneficiary under
the plan are in addition to any other benefits available to such Member under
any other plan or program of the Bank for its employees, and, except as may
otherwise be expressly provided for, the Plan shall supplement and shall not
supersede, modify or amend any other plan or program of the Bank or a Member.
Moreover, benefits under the Plan shall not be considered compensation for the
purpose of computing contributions or benefits under any plan maintained by the
Bank or any of its subsidiaries which is qualified under Sections 40l(a) and
501(a), Internal Revenue Code OF 1954, as amended.

<Page>

                                   ARTICLE XVI

                     RESTRICTIONS ON ALIENATION OF BENEFITS

     16.1 No right or benefit under the Plan or a Plan Agreement shall be
subject to anticipation, alienation, sale, assignment, pledge, encumbrance or
charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber
or charge the same shall be void. No right or benefit hereunder shall in any
manner be liable for or subject to the debts, contracts, liabilities, or torts
of the person entitled to such benefit. If any Member or Beneficiary under the
Plan should become bankrupt or attempt to anticipate, alienate, sell, assign,
pledge, encumber or charge any right to a benefit hereunder, then such right or
benefit, in the discretion of the Committee, shall cease and determine, and in
such event, the Committee may hold or apply the same or any part thereof for the
benefit of such Member or Beneficiary, his or her spouse, children, or other
dependents, or any of them, in such manner and in such portion as the Committee
may deem proper.

<Page>

                                  ARTICLE XVII

                                  MISCELLANEOUS

     17.1 Any notice which shall be or may be given under the Plan or a Plan
Agreement shall be in writing and shall be mailed by United States mail, postage
prepaid. If notice is to be given to the Bank, such notice shall be addressed to
the Bank at Post Office Box 32890, Louisville, Kentucky 40232, marked for the
attention of the Secretary Administrative Committee, Senior Officers Security
Plan; or if notice to a Member, addressed to the address shown on such Member's
Plan Agreement.

     17.2 Any party may, from time to time, change the address to which
notices shall be mailed by giving written notice of such new address.

     17.3 The Plan shall be binding upon the Bank and its successors and
assigns, and upon a Member, his Beneficiary, assigns, heirs, executors and
administrators.

     17.4 The Plan and Plan Agreement shall be governed and construed under
the laws of the Commonwealth of Kentucky as in effect at the time of their
adoption and execution, respectively.

     17.5 Masculine pronouns wherever used shall include female pronouns and the
singular shall include the plural.

     17.6 Any corporation which is a subsidiary of the Bank may, with the
approval of the Bank, adopt this Plan and thereby come within the definition of
Bank in Article I hereof.

<Page>

                        STOCK YARDS BANK & TRUST COMPANY

                          SENIOR OFFICERS SECURITY PLAN

                             ELECTION TO PARTICIPATE

                                    EXHIBIT 1

     I acknowledge that, as an Employee of Stock Yards Bank & Trust Co. (the
"Bank"), I have been offered an opportunity to participate in the Senior
Officers Security Plan (the "Plan") described in the attached documents, and
that I have elected:

[ ]  To participate in the Plan

[ ]  Not to participate in the Plan.

     I further acknowledge that neither the Bank nor any of its subsidiaries,
affiliated companies, officers, employees or agents has any responsibility
whatsoever for any changes which I may make in other personal plans or programs
as a result of my decision regarding the Plan and they are fully released to
such extent, and I understand that the Plan referred to in the attached
Agreement may be terminated at any time, in the sole discretion of the Bank,
without any obligation of any nature whatsoever to the Bank, except a Member
shall have those rights provided for in Articles III, V and X of the Plan, to
the extent that such may be applicable to him at the time of such termination.

Dated:, ________________________1980.
                                              ----------------------------------
                                              Employee

<Page>

                     STOCK YARDS BANK & TRUST CO.

               SENIOR OFFICERS SECURITY PLAN AGREEMENT

                       EMPLOYEE PLAN AGREEMENT

                              EXHIBIT 2

1.   Employee's Total Covered Salary: $ _______________________ per month.

          This represents (the full amount) (____________________ %) of
          Employee's base earnings eligible for coverage at the date of
          Employee's application for this coverage.

2.   Total Death Benefit (death before age 65):

          (a) $_________________ per month for first 12 months.
          (b) $ _________________per month for next 108 months
                or until Employee would have attained age 65, whichever
                is later.

3.   Total Disability Benefit {for Employee becoming a. Member prior to age 55:

          (a) The Employee's Contribution shown as No.5 below would be
              eliminated.
          (b) $ ____________________ per month until the earlier of
              (i) Termination of the Employee's being Totally Disabled,
              (ii) the Employee's death or (iii) the Employee's attaining
              age 65.

4.   Total Retirement Benefit (after age 65):

     $ This amount would be paid in installments as follows:
     _________________________________________________________.
     _________________________________________________________
     _________________________________________________________

     If an Employee is (i) no longer employed but was fully vested pursuant
     to Section 6.1 as of the termination of his employment and (ii) has
     attained age 55 and has not attained age 65, he shall be entitled to the
     Retirement Benefit, actuarially reduced to an amount determined by the
     Committee and which shall be payable commencing at a date no later than
     the Employee's age 65.  If Employee retires after age 55 and prior to age
     65, the retirement benefit shall be actuarially reduced to an amount
     determined by the Committee, and shall be payable commencing at a date no
     later than the Employee's age 65.

5.   If the employment of an Employee is terminated for any reason other than
     death, disability or retirement, and if the Employee is fully vested as
     provided in Section 6.1 of Article VI, the Employee may, at the Employee's
     option and without the consent of the Bank, continue the benefit of the
     Plan for the Employee by making a contribution on ___________(date) each
     year in an amount equal to $__________________  , with said contributions
     to continue until Employee has attained age ______________.

6.   Employee hereby designates as Primary Beneficiary under this Agreement:

     ---------------------------------------------------------------------------

     ---------------------------------------------------------------------------

     and Employee hereby designates as Secondary Beneficiary under this
     Agreement:

     ---------------------------------------------------------------------------

     ---------------------------------------------------------------------------

     ---------------------------------------------------------------------------

     The term Beneficiary, as used herein, shall mean the Primary Beneficiary if
     such Primary Beneficiary survives the Employee by at least 30 days, and
     shall mean the Secondary Beneficiary if Primary Beneficiary does not
     survive Employee by at least 30 days, and shall mean the estate of Employee
     if neither Primary Beneficiary nor Secondary Beneficiary survives the
     Employee by at least 30 days. Employee shall have the right to change
     Employee's designation of Primary Beneficiary and/or Secondary Beneficiary
     from time to time in such manner as shall be required by the Bank, it being
     agreed that no change in Beneficiary shall be effective until acknowledged
     in writing by the Bank. (If Beneficiary is to be irrevocable, strike and
     initial previous sentence.)

7.   Notices to Employee (Member) shall be sent as follows:

     Name
         -----------------------------------------------------------------------
     Street Address or
     Post Office Box No.
                        --------------------------------------------------------
     City and State                             Zip Code
                    ---------------------------          ----------------------

     IN WITNESS WHEREOF, Stock Yards Bank & Trust Co. and Employee have executed
this Exhibit 2 as of the_____________________________________________________day
of _________________________,  19____________.

Employee:                                           STOCK YARDS BANK & TRUST CO.
By:

                                         By:
--------------------------------------       ----------------------------------
        (Signature)                                    President

-------------------------------------------
     (Type or print name under signature)

This Exhibit supercedes that Exhibit dated the ______________________________day

of _____________________________________,19_________________.

<Page>

                          STOCK YARDS BANK & TRUST CO.

                     SENIOR OFFICERS SECURITY PLAN AGREEMENT

                             EMPLOYEE PLAN AGREEMENT

                                    EXHIBIT 3

     The undersigned, a Member of the Stock Yards Bank & Trust Co. Senior
Officers Security Plan (the "Plan") of Stock Yards Bank & Trust Co. (the "Bank")
hereby designates as primary beneficiary and secondary beneficiary under the
Plan and my Plan Agreement the following:

Primary Beneficiary:
                     --------------------------------------------------
Secondary Beneficiary:
                       -------------------------------------------------

     All previous beneficiary designations made by me in my Plan Agreement are
revoked and any benefits due to be paid by the Bank shall be paid to the above
designated beneficiary(ies) in accordance with the terms of the Plan and my Plan
Agreement as though the above designated beneficiaries have been originally
named in my Plan Agreement. The undersigned acknowledges that this beneficiary
designation will not be effective until acknowledged in writing by the Bank in
the space provided below.

                     MEMBER:

                     -----------------------------------------------------
                               Signature

Beneficiary Designation herein
acknowledged and approved this
_____________day of _________, 19 _____.

STOCK YARDS BANK & TRUST CO.

By:
     ----------------------------------------------------

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