SEC Contract Filing

Filing Date: 2021-02-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>rbcaa-20210127xex10d5.htm
<DESCRIPTION>EX-10.5
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.9.1.77--><!--Created on: 2/1/2021 10:02:19 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title>RBCAA Reports an __% Increase In Core earning and announces a stock repurchase program</title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 0pt 1.2pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 10.5</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 0pt 1.2pt;"><font style="font-size:12pt;font-weight:bold;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;">Form of Executive Officer Change in Control Agreement between Republic Bank &amp; Trust Company and designated Executive Officers</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-size:12pt;font-weight:bold;">REPUBLIC BANCORP, INC</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">REPUBLIC BANK &amp; TRUST COMPANY</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">CHANGE IN CONTROL SEVERANCE AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">This is a </font><b style="font-size:12pt;font-weight:bold;">Change in Control Severance Agreement</b><font style="font-size:12pt;"> dated as of the 27</font><sup style="font-size:9pt;vertical-align:top;">th</sup><font style="font-size:12pt;"> day of January 2021, made by and between Republic Bancorp, Inc., a Kentucky corporation (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Company</u><font style="font-size:12pt;">&#8221;), and ______________ (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Executive</u><font style="font-size:12pt;">&#8221;), who is presently _________________ of Republic Bank &amp; Trust Company (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Bank</u><font style="font-size:12pt;">&#8221;) (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Agreement</u><font style="font-size:12pt;">&#8221;). &#160;This Agreement is entered into in consideration of the mutual covenants herein contained and in further consideration of services performed and to be performed by the Executive for the Company and/or its Subsidiaries. As of the date of this Agreement, Bank is a wholly-owned Subsidiary of the Company. The Bank joins in this Agreement to further accomplish the terms and objectives of this Agreement.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Recitals</b></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">A.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">The Company considers the establishment and maintenance of sound and vital management of the Company and its Subsidiaries to be essential to protecting and enhancing the best interests of the Company and its shareholders.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">B.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">The Company recognizes that, while not anticipated, the possibility of a change in control may exist. Such possibility, and the uncertainty and questions which it may raise among management of the Company and its Subsidiaries may result in the departure or distraction of key members of management to the detriment of the Company&#8217;s shareholders.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">C.</td><td style="pad