Horizon Bancorp adopts new Nonqualified Deferred Compensation Plan effective January 1, 2025

HORIZON BANCORP INC /IN/

The plan amends and restates the existing 2005 Supplemental Executive Retirement Plan (SERP) and is effective January 1, 2025.
Only certain management and highly compensated employees of Horizon and its affiliates are eligible to participate.
Participants may defer up to 90% of base salary and 90% of performance-based bonus; the Compensation Committee may elect matching contributions.
Horizon common shares (HBNC) will not be an investment alternative under the new deferred compensation plan.
Vesting of employer discretionary contributions occurs over six years (0% at less than 1 year, 100% after 6 years), with full vesting at age 65, death, or disability.

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