SEC Contract Filing

Filing Date: 2019-02-22

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>a19-5182_2ex10d4.htm
<DESCRIPTION>EX-10.4
<TEXT>

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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.4<a name="Exhibit10_4_125947"></a></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUCCESS BONUS AGREEMENT</font></u></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Success Bonus Agreement (the &#147;<u>Agreement</u>&#148;) is entered into as of February&nbsp;21, 2019 by and among M. Todd Kanipe (&#147;<u>Executive</u>&#148;), Citizens First Corporation, a Kentucky corporation (&#147;<u>CFC</u>&#148;), and Citizens First Bank,&nbsp;Inc., a wholly-owned subsidiary of CFC (&#147;<u>Citizens First Bank</u>&#148;).</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WITNESSETH:</font></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, Executive is currently employed by CFC and Citizens First Bank; and</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, concurrently with the execution of this Agreement, German American Bancorp,&nbsp;Inc. (&#147;<u>German American</u>&#148;), German American Bank, CFC and Citizens First Bank are entering into an Agreement and Plan of Reorganization, dated as of February&nbsp;21, 2019 (the &#147;<u>Merger Agreement</u>&#148;); all capitalized terms not defined herein shall have the meaning set forth in the Merger Agreement; and</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, Executive&#146;s efforts will be necessary to effectuate the closing of the transaction described in the Merger Agreement; and</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, CFC and Executive are parties to those certain Performance Units Award Agreements dated as of May&nbsp;17, 2017, May&nbsp;16, 2018 and February&nbsp;19, 2019 (the &#147;<u>Performance Agreements</u>&#148;), the Performance-Based Award Agreement (Short-Term Incentive) dated February&nbsp;19, 2019 (the &#147;<u>Short-Term Agreement</u>&#148; and, together with the Performance Agreements, the &#147;<u>Prior Agreements</u>&#148;); and</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, CFC and Executive wish to set forth the bonus compensation (the &#147;<u>Success Bonus</u>&#148;) that Executive shall be entitled to receive due to Executive&#146;s expected efforts necessary to effectuate the closing of the Merger Agreement; and</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, CFC, Citizens First Bank, and Executive desire to enter into this Agreement, effective immediately prior to the Effective Time of the Merger, and, in lieu of any rights and payments under the Prior Agreements, the Executive shall be entitled to the rights and payments set forth herein; and</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, the duties and obligations of CFC to Executive under this Agreement shall be in consideration for Executive&#146;s past services to CFC and Citizens First Bank, Executive&#146;s continued employment with CFC and Citizens First Bank through the closing of the Merger and Executive&#146;s agreeing to terminate the Prior Agreements;</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW THEREFORE</font></b>, in consideration of the foregoing and other good and valuable consideration the receipt and sufficiency of