HOME FEDERAL BANCORP, INC. OF LOUISIANA 8-K (Events or Changes Between Quarterly Reports) 2009-02-24

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event February 21, 2009

reported)
Home Federal Bancorp, Inc. of Louisiana

(Exact name of registrant as specified in its charter)
Federal 000-51117 86-1127166

(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
624 Market Street, Shreveport, Louisiana 71101

(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including(318) 222-1145

area code
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Ce

Compensatory Arrangements of Certain Officers.
(a) Not applicable.
(b) Mr. Daniel R. Herndon, the Chairman of the Board, President and Chief Executive Officer o
Bancorp, Inc. of Louisiana (the “Company”) and its wholly owned subsidiary, Home Federal Savings and Loan
“Association”) determined to relinquish the title of President of the Association, effective as of February 21, 2009, in
the appointment of James R. Barlow as President and Chief Operating Officer of the Association. Mr. Herndon
positions at the Company and will continue as Chairman of the Board and Chief Executive Officer of the Association.
(c) The Board of Directors of the Association appointed, effective as of February 21, 2009, Jame
President and Chief Operating Officer of the Association. Mr. Barlow, age 40, previously served as Executive Vic
Area Manager for the Arkansas-Louisiana-Texas area commercial real estate operations of Regions Bank (“Region
2006 until February 2009. From 2005 until August 2006, he was a Region’s City President for the Shreveport-B
from February 2003 to 2005 he served as Commercial Loan Manager for Regions for the Shreveport-Bossier ar
served in various positions at Regions since 1997. There are no arrangements or understandings between a direc
officer of the Company or the Association and Mr. Barlow pursuant to which he was elected an executive officer of
No directors or executive officers of the Company or the Bank are related to Mr. Barlow by blood, marriage o
Barlow has not engaged in any transactions since July 1, 2007 with the Company or any of its subsidiaries that woul
be reported under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
(d) In connection with the appointment of Mr. Barlow as President and Chief Operating Officer of the
was also appointed to the Board of Directors of the Association, effective February 21, 2009. No decisio
appointments has been made.
(e) Effective as of February 21, 2009 (“Effective Date”), the Board of Directors of the Assoc
employment agreements (individually, an “Agreement” and collectively, the “Agreements”) with Messrs.
Barlow. Pursuant to the employment agreements, Messrs. Herndon and Barlow will serve as Chairman of the B
Executive Officer and as President and Chief Operating Officer, respectively, of the Association for a term of thre
year, respectively, commencing upon the Effective Date. On each anniversary date of the Effective Date, the term of
is extended for an additional year unless the Association or the executive gives notice to the other party no
agreements. At least annually, the Board of Directors of the Association will consider whether to continue to renew
agreements. The Agreements provide for initial base salaries of $135,500 and $150,000 per year for each of Mess
Barlow, respectively. Such salaries may be increased at the discretion of the Board of Directors of the Association
decreased during the term of the Agreements without the prior written consent of Messrs. Herndon or Barlow. The A
agreed to provide each of Messrs. Herndon and Barlow with an automobile during the term of the Agreements.
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The Agreements are terminable with or without cause by the Association. The Agreements provide that i
wrongful termination of employment (including a voluntary termination by Messrs. Herndon or Barlow as a result of a
of the Agreement by the Association or for "good reason" which includes a material diminution in the executive's bas
authorities, duties or responsibilities without his consent), each of Messrs. Herndon and Barlow would be entitled to
cash severance which is equal to three times (Mr. Herndon) or one times (Mr. Barlow) the sum of his base salary
termination plus his prior calendar year's bonus and (2) continued participation in certain employee benefit plans of
until the earlier of 36 months (Mr. Herndon) or 12 months (Mr. Barlow) or the date the executive receives sub
benefits from full-time employment with another employer. The Agreements with the Association provide that in the
payments to be made thereunder or otherwise upon termination of employment are deemed to constitute "parachute p
the meaning of Section 280G of the Internal Revenue Code (the “Code”), then such payments and benefits received
be reduced by the minimum amount necessary to result in no portion of the payments and benefits being non-de
Association for federal income tax purposes.
The Board of Directors of the Company has also approved effective February 21, 2009, an employmen
“Company Agreement”) with Mr. Herndon to serve as Chairman of the Board, President and Chief Executiv
Company which is on terms substantially similar to the Agreement with the Association, except as provided below.
Agreement provides that severance payments payable to Mr. Herndon by the Company shall include the amou
severance benefits payable by the Association are reduced as a result of Section 280G of the Code, if the para
exceed 105% of three times the executive's "base amount" as defined in Section 280G of the Code. If the parachu
not more than 105% of the amount equal to three times the executive's base amount, the severance benefits payable
will be reduced so they do not constitute "parachute payments" under Section 280G of the Code. In addition
Agreement provides that the Company shall reimburse Mr. Herndon for any resulting excise taxes payable by
additional amount as may be necessary to compensate them for the payment of state and federal income, e
employment-related taxes on the additional payments. Under the Company Agreement, Mr. Herndon's compensati
expenses will be paid by the Company and the Association in the same proportion as the time and services actually e
executives on behalf of each company.
The foregoing description is qualified in its entirety by reference to the Agreements and the Company Agre
which are attached as Exhibits 10.1, 10.2 and 10.3 to this Current Report on Form 8-K and incorporated here
thereto.
(f) Not applicable.
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Item 7.01 Regulation FD Disclosure
On February 23, 2009, the Company issued a press release announcing the appointment of Mr. Barlow, a
Chief Operating Officer of the Association. For additional information, reference is made to the Company’s pres
February 23, 2009, which is included as Exhibit 99.1 hereto and is incorporated herein by reference thereto. T
attached hereto is being furnished to the Securities and Exchange Commission and shall not be deemed to be “filed”
except as shall be expressly set forth by specific reference to such filing in other filings of the Company into w
incorporated.
Item 9.01 Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits
The following exhibits are included herewith.
Exhibit No. Description

10.1 Employment Agreement between Home Federal Savings and Loan Association
R. Herndon dated as of February 21, 2009
10.2 Employment Agreement between Home Federal Savings and Loan Associatio
R. Barlow dated as of February 21,
10.3 Employment Agreement between Home Federal Bancorp, Inc. of Louisiana
Herndon dated as of February 21, 2009
99.1 Press release dated February 23, 2009
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
behalf by the undersigned thereunto duly authorized.
HOME FEDERAL BANCORP, INC. OF LOUISIANA
Date: February 23, 2009 By: /s/ Daniel R. Herndon

Daniel R. Herndon
Chairman of the Board, President and Chief Executiv
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EXHIBIT INDEX
Exhibit No. Description

10.1 Employment Agreement between Home Federal Savings and Loan
Association and Daniel R. Herndon dated as of February 21, 2009
10.2 Employment Agreement between Home Federal Savings and Loan
Association and James R. Barlow dated as of February 21,
10.3 Employment Agreement between Home Federal Bancorp, Inc. of
Louisiana and Daniel R. Herndon dated as of February 21, 2009
99.1 Press release dated February 23, 2009
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EXHIBIT 10.1
HOME FEDERAL SAVINGS AND LOAN ASSOCIATION

EMPLOYMENT AGREEMENT
This EMPLOYMENT AGREEMENT (this “Agreement”), is made and entered into as of the 21st day of
between Home Federal Savings and Loan Association (the “Association” or the “Employer”), a federally chartered
association which is the wholly owned subsidiary of Home Federal Bancorp, Inc. of Louisiana (the “Corporation”
Herndon (the “Executive”).
WITNESSETH
WHEREAS, the Executive is currently employed as Chairman of the Board and Chief Executive Officer of th
WHEREAS, the Executive is currently employed as Chairman, President and Chief Executive Officer of th
federal corporation;
WHEREAS, the Association desires to assure itself of the continued availability of the Executive’s service
this Agreement;
WHEREAS, the Executive is willing to serve the Association on the terms and conditions hereinafter set forth
WHEREAS, the Executive is concurrently entering into a separate employment agreement with the C
“Corporation Agreement”).
NOW THEREFORE, in consideration of the mutual agreements herein contained, and upon the other term
hereinafter provided, the Association and the Executive hereby agree as follows:
1. Definitions. The following words and terms shall have the meanings set forth below for the
Agreement:
(a) Annual Compensation. The Executive’s “Annual Compensation” for purposes of determining se
under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termina
cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Dat
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 beca
dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to
duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-an
material breach of any provision of this Agreement.
(d) Change in Control. “Change in Control” shall mean a change in the ownership of the Co
Association, a change in the effective control of the Corporation or the Association or a change in the ownership
portion of the assets of the Corporation or the Association, in each case as provided under Section 409A of th
regulations thereunder; provided, however, that neither any second-step conversion and reorganization in which the
exist nor any increase in the ownership of the Corporation by the MHC shall be deemed to constitute a Change in Co
(e) Code. “Code” shall mean the Internal Revenue Code of 1986, as amended.
(f) Date of Termination. “Date of Termination” shall mean (i) if the Executive’s employment
Cause, the date on which the Notice of Termination is given, and (ii) if the Executive’s employment is terminated for a
the date specified in such Notice of Termination.
(h) Effective Date. The Effective Date of this Agreement shall mean February 21, 2009.
(i) Disability. “Disability” shall mean the Executive (i) is unable to engage in any substantial gainful a
of any medically determinable physical or mental impairment which can be expected to result in death or can be expe
continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental im
can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, r
replacement benefits for a period of not less than three months under an accident and health plan covering em
Employer.
(j) ERISA. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
(i) Good Reason. “Good Reason” means the occurrence of any of the following conditions:
(i) any material breach of this Agreement by the Association, including without limitation any of th
material diminution in the Executive’s base compensation, (B) a material diminution in the Executive’s authority, duties or
prescribed in Section 2, or (C) any requirement that the Executive report to a corporate officer or employee of the Asso
reporting directly to the Board of Directors of the Association (the “Association Board”), or
(ii) any material change in the geographic location at which the Executive must perform his s
Agreement;
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provided, however, that prior to any termination of employment for Good Reason, the Executive must first provide
the Association within ninety (90) days of the initial existence of the condition, describing the existence of such co
Association shall thereafter have the right to remedy the condition within thirty (30) days of the date the Associat
written notice from the Executive. If the Association remedies the condition within such thirty (30) cure period, then n
shall be deemed to exist with respect to such condition. If the Association does not remedy the condition within suc
cure period, then the Executive may deliver a Notice of Termination for Good Reason at any time within sixty (60) da
expiration of such cure period.
(k) IRS. “IRS” shall mean the Internal Revenue Service.
(l) MHC. “MHC” shall mean Home Federal Mutual Holding Company of Louisiana, the parent mutual ho
for the Corporation and the Association.
(m) Notice of Termination. Any purported termination of the Executive’s employment by the Ass
reason, including without limitation for Cause, Disability or Retirement, or by the Executive for any reason, including w
for Good Reason, shall be communicated by a written “Notice of Termination” to the other party hereto. For
Agreement, a “Notice of Termination” shall mean a dated notice which (i) indicates the specific termination p
Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for te
Executive’s employment under the provision so indicated, (iii) specifies a Date of Termination, which shall be effectiv
the Association terminates the Executive’s employment for Cause, and (iv) is given in the manner specified in Section
(n) Retirement. “Retirement” shall means voluntary termination by the Executive which constitutes a retire
early retirement, under the Association’s 401(k) plan.
2. Term of Employment and Duties.
(a) The Association hereby employs the Executive as the Chairman of the Board of Directors of
Board and Chief Executive Officer of the Association and the Executive hereby accepts said employment and agree
services to the Association on the terms and conditions set forth in this Agreement. The terms and conditions of this
be and remain in effect during the period of three years beginning on the Effective Date of this Agreement and end
anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to Section 2(b) hereof (th
Period”).
(b) Beginning on the day that is the first annual anniversary of the Effective Date and on each ann
thereafter, the term of this Agreement shall be extended for a period of one additional year, provided that the Employ
notice to the Executive in writing at least 30 days prior to such day that the term of this Agreement shall not be e
and/or the Executive has not given notice to the Employer of his election not to extend the term at least thirty (30) d
such annual anniversary date. If any party gives timely notice that the term will not be extended as of any such an
date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this
refer both to the initial term and successive terms.
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(c) Nothing in this Agreement shall be deemed to prohibit the Association at any time from terminating
employment during the Employment Period for any reason, provided that the relative rights and obligations of the Ass
Executive in the event of any such termination shall be determined under this Agreement, and provided further, that th
the Executive as Chairman and/or as Chief Executive Officer shall not result automatically in termination of the Execu
a director on the Association Board.
(d) During the term of this Agreement, the Executive shall manage the operations of the Association
officers that report to him. The Executive shall also oversee the implementation of the policies adopted by the Board
the Association. In addition, during the term of this Agreement, the Executive shall perform such executive
Association as may be consistent with his title and from time to time assigned to him by the Association’s Board of Di
(e) During the term of this Agreement, the Association Board shall nominate the Executive to be
Association when his term expires and recommend his election to the sole stockholder of the Association, subject
duties of the Association Board.
3. Compensation and Benefits.
(a) The Employer shall compensate and pay the Executive for his services during the term of this
minimum base salary of $135,500 per year (“Base Salary”), which amount may be increased from time to time in s
may be determined by the Board of Directors of the Employer and may not be decreased without the Executive’s
consent. In addition to his Base Salary, the Executive shall be entitled to receive during the term of this Agreem
payments as may be determined by the Board of Directors of the Employer. The Executive and the Association ack
portion of the Base Salary may be paid by the Corporation pursuant to the terms of the Corporation Agreement for s
to the Corporation by the Executive pursuant to his service as Chairman of the Board, President and Chief Executive
(b) During the term of this Agreement, the Executive shall be entitled to participate in and receive th
pension or other retirement benefit plan, profit sharing, employee stock ownership, or other plans, benefits and pr
employees and executives of the Employer, to the extent commensurate with his then duties and responsibilities, as fix
of Directors of the Employer. The Association shall not make any changes in such plans, benefits or privileges which
affect the Executive’s rights or benefits thereunder, unless such change occurs pursuant to a program applicable
officers of the Association and does not result in a proportionately greater adverse change in the rights of or benefits
as compared with any other executive officer of the Association. Nothing paid to the Executive under any plan
presently in effect or made available in the future shall be deemed to be in lieu of the salary payable to the Execu
Section 3(a) hereof.
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(c) During the term of this Agreement, the Executive shall be entitled to paid annual vacation in acco
policy as established from time to time by the Board of Directors of the Employer. The Executive shall not be entitle
additional compensation from the Employer for failure to take a vacation, nor shall the Executive be able to acc
vacation time from one year to the next, except to the extent authorized by the Board of Directors of the Employer.
(d) During the term of this Agreement and during a period not to exceed five years after the Executi
during which the Executive provides consulting services to the Association (the “Consulting Period”), the Employ
medical and dental insurance at no expense to the Executive for the benefit of the Executive and his spouse; furtherm
of the death of the Executive prior to the earlier to occur of the expiration of the term of this Agreement or the Cons
applicable, the Employer shall provide the Executive’s spouse, at no expense to the spouse, with said medical and
until the date when the term of this Agreement or the Consulting Period, as applicable, would have expired but for Ex
The terms of such medical and dental insurance shall be the same or substantially similar to the coverage provided by
as of the date of this Agreement.
(e) During the term of this Agreement, in keeping with past practices, the Employer shall continu
Executive with an automobile comparable to the one currently provided to him. The Employer shall be responsible a
all costs of insurance coverage, repairs, maintenance and other incidental expenses, including license, fuel and oil.
(f) Except as otherwise agreed between the Corporation and the Association, (i) the Executive'
benefits, and severance and (ii) expenditures made by the Executive on behalf of the Association, as set forth in this A
be paid by the Corporation and the Association in the same proportions as the (A) time and services and (B) expen
expended by the Executive on the business of the Corporation and the business of the Association, respectively. F
the Executive shall maintain, and provide to the Association on at least a monthly basis, documentation of the tim
expended by the Executive on the business of each of the Corporation and the Association. No provision contained in
shall require the Association to pay any portion of the Executive’s compensation, benefits, severance and expense
paid by the Corporation pursuant to this Agreement or the agreement of even date being entered into between the C
the Executive.
4. Expenses. The Employer shall reimburse the Executive or otherwise provide for or pay fo
expenses incurred by the Executive in furtherance of or in connection with the business of the Employer, including, b
limitation, automobile expenses described in Section 3(e) hereof, and traveling expenses, and all reasonable entertai
(whether incurred at the Executive’s residence, while traveling or otherwise), subject to such reasonable documenta
as may be established by the Board of Directors of the Employer. If such expenses are paid in the first instance by th
Employer shall reimburse the Executive therefor. Such reimbursement shall be paid promptly by the Employer and
later than March 15th of the year immediately following the year in which such expenses were incurred.
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5. Termination.
(a) The Association shall have the right, at any time upon prior Notice of Termination, to terminate
employment hereunder for any reason, including without limitation termination for Cause, Disability or Retirement, a
shall have the right, upon prior Notice of Termination, to terminate his employment hereunder for any reason.
(b) In the event that (i) the Executive’s employment is terminated by the Association for Cause or (i
terminates his employment hereunder other than for Disability, Retirement, death or Good Reason, the Executive sh
pursuant to this Agreement to compensation or other benefits for any period after the applicable Date of Termination.
(c) In the event that the Executive’s employment is terminated as a result of Disability, Retirement or
death during the term of this Agreement, the Executive shall have no right pursuant to this Agreement to compe
benefits for any period after the applicable Date of Termination.
(d) In the event that (i) a Change in Control of the Corporation or the Association occurs, (ii)
employment is terminated by the Association for other than Cause, Disability, Retirement or the Executive’s de
employment is terminated by the Executive for Good Reason, then the Association shall, subject to the provisions of S
if applicable,
(A) pay to the Executive, in a lump sum as of the Date of Termination, a cash severance amount eq
times that portion of the Executive’s Annual Compensation paid by the Association,
(B) maintain and provide for a period ending at the earlier of (i) thirty-six (36) months after the Date of
(ii) the date of the Executive’s full-time employment by another employer (provided that the Executive is entitled un
such employment to benefits substantially similar to those described in this subparagraph (B)), at no cost to th
Executive’s continued participation in all group insurance, life insurance, health and accident, disability insurance
Association in which the Executive was entitled to participate immediately prior to the Date of Termination
continuation of any vacation time, sick leave or similar leave), subject to subparagraphs (C) and (D) below,
(C) in the event that the Executive’s participation in any plan, program or arrangement as provided
(B) of this Section 5(d) is barred, or during such period any such plan, program or arrangement is discontinued
thereunder are materially reduced, the Association shall arrange to provide the Executive with benefits substantially
which the Executive was entitled to receive under such plans, programs and arrangements immediately prior
Termination or, if such coverage cannot be obtained, pay a lump sum cash equivalency amount within thirty (30) da
Date of Termination based on the annualized rate of premiums being paid by the Association as of the Date of Termin
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(D) any insurance premiums payable by the Association pursuant to Section 5(d)(B) or (C) shall be
times and in such amounts as if the Executive was still an employee of the Association, subject to any increases
imposed by the insurance company or COBRA, and the amount of insurance premiums required to be paid by the A
taxable year shall not affect the amount of insurance premiums required to be paid by the Association in any other tax
6. Limitation of Benefits under Certain Circumstances. If the payments and benefits pursu
hereof, either alone or together with other payments and benefits which the Executive has the right to receive from
and/or the Corporation, would constitute a “parachute payment” under Section 280G of the Code, then the payme
payable by the Association pursuant to Section 5 hereof shall be reduced by the minimum amount necessary to result
the payments and benefits payable by the Association under Section 5 being non-deductible to the Association pur
280G of the Code and subject to the excise tax imposed under Section 4999 of the Code. In no event shall th
benefits payable under Section 5 exceed three times the Executive’s average taxable income from the Associa
calendar years preceding the year in which the Date of Termination occurs, with any benefits to be provided subseq
of Termination to be discounted to present value in accordance with Section 280G of the Code. If the payments an
Section 5 are required to be reduced, the cash severance shall be reduced first, followed by a reduction in the fring
determination of any reduction in the payments and benefits to be made pursuant to Section 5 shall be based upo
independent tax counsel selected by the Association and paid by the Association. Such counsel shall promptly prepa
opinion, but in no event later than thirty (30) days from the Date of Termination, and may use such actuaries as such
necessary or advisable for the purpose. Nothing contained in this Section 6 shall result in a reduction of any paymen
which the Executive may be entitled upon termination of employment under any circumstances other than as specifie
6, or a reduction in the payments and benefits specified in Section 5 below zero.
7. Mitigation; Exclusivity of Benefits.
(a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking ot
or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executiv
employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(B) ab
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(b) The specific arrangements referred to herein are not intended to exclude any other vested benefit
available to the Executive upon a termination of employment with the Association pursuant to employee bene
Association or the Corporation or otherwise.
8. Withholding. All payments required to be made by the Association hereunder to the Executive sh
the withholding of such amounts, if any, relating to tax and other payroll deductions as the Association shall determin
be withheld pursuant to any applicable law or regulation.
9. Assignability. The Association may assign this Agreement and its rights and obligations hereund
not in part, to any corporation, bank or other entity with or into which the Association may hereafter merge or consoli
the Association may transfer all or substantially all of its assets, if in any such case said corporation, bank or othe
operation of law or expressly in writing assume all obligations of the Association hereunder as fully as if it had been o
party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Executive m
transfer this Agreement or any rights or obligations hereunder.
10. Notice. For the purposes of this Agreement, notices and all other communications provided for in
shall be in writing and shall be deemed to have been duly given when delivered or mailed by certified or registered ma
requested, postage prepaid, addressed to the respective addresses set forth below:
To the Association: Secretary

Home Federal Savings and Loan Association
624 Market Street
Shreveport, Louisiana 71101
To the Executive: Daniel R. Herndon

At the address last appearing on
the personnel records of the Employer
11. Amendment; Waiver. No provisions of this Agreement may be modified, waived or dischar
waiver, modification or discharge is agreed to in writing signed by the Executive and such officer or officers as ma
designated by the Association Board to sign on its behalf. No waiver by any party hereto at any time of any brea
party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such othe
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent tim
notwithstanding anything in this Agreement to the contrary, the Association may amend in good faith any terms of
including retroactively, in order to comply with Section 409A of the Code.
12. Governing Law. The validity, interpretation, construction and performance of this Agreement sh
by the laws of the United States where applicable and otherwise by the substantive laws of the State of Louisiana.
8
13. Nature of Obligations. Nothing contained herein shall create or require the Association to crea
kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to
from the Association hereunder, such right shall be no greater than the right of any unsecured general creditor of the A
14. Headings. The section headings contained in this Agreement are for reference purposes only and
in any way the meaning or interpretation of this Agreement.
15. Validity. The invalidity or unenforceability of any provision of this Agreement shall not affec
enforceability of any other provisions of this Agreement, which shall remain in full force and effect.
16. Counterparts. This Agreement may be executed in one or more counterparts, each of which sha
be an original but all of which together will constitute one and the same instrument.
17. Regulatory Actions. The following provisions shall be applicable to the parties to the exte
required to be included in employment agreements between a savings association and its employees pursuant to Sect
the Office of Thrift Supervision (“OTS”) Rules and Regulations, 12 C.F.R. §563.39(b), or any successor there
controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 h
(a) If the Executive is suspended from office and/or temporarily prohibited from participating in th
Association’s affairs pursuant to notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposi
(“FDIA”)(12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Association’s obligations under this Agreement shall be sus
date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Associ
discretion: (i) pay the Executive all or part of the compensation withheld while its obligations under this Agreement
and (ii) reinstate (in whole or in part) any of its obligations which were suspended.
(b) If the Executive is removed from office and/or permanently prohibited from participating in th
Association’s affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. §§1818(e
all obligations of the Association under this Agreement shall terminate as of the effective date of the order, but ves
Executive and the Association as of the date of termination shall not be affected.
(c) If the Association is in default, as defined in Section 3(x)(1) of the FDIA (12 U.S.C. §1813(x)(1))
under this Agreement shall terminate as of the date of default, but vested rights of the Executive and the Association
termination shall not be affected.
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(d) All obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5
extent that it is determined that continuation of the Agreement for the continued operation of the Association is nece
Director of the OTS, or his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters in
to provide assistance to or on behalf of the Association under the authority contained in Section 13(c) of the FD
§1823(c)); or (ii) by the Director of the OTS, or his/her designee, at the time the Director or his/her designee approv
merger to resolve problems related to operation of the Association or when the Association is determined by the Dire
to be in an unsafe or unsound condition, but vested rights of the Executive and the Employer as of the date of termina
affected.
18. Regulatory Prohibition. Notwithstanding any other provision of this Agreement to the contrary
made to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their complian
18(k) of the FDIA (12 U.S.C. §1828(k)) and 12 C.F.R. Part 359.
19. Changes in Statutes or Regulations. If any statutory or regulation provision referenced herein
changed or re-numbered, or is replaced by a separate provision, then the references in this Agreement to such statuto
provision shall be deemed to be a reference to such section as amended, re-numbered or replaced.
20. Entire Agreement. This Agreement embodies the entire agreement between the Association an
with respect to the matters agreed to herein. All prior agreements between the Association and the Executive wit
matters agreed to herein are hereby superseded and shall have no force or effect. Notwithstanding the foregoing, noth
this Agreement shall affect the Corporation Agreement of even date being entered into between the Corporation and t
10
IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written.
Attest HOME FEDERAL SAVINGS AND

LOAN ASSOCIATION
/s/ DeNell W. Mitchell By: /s/ Scott D. Lawrence

DeNell W. Mitchell Scott D. Lawrence
Corporate Secretary Chairman of the Audit Committee
EXECUTIVE
By: /s/ Daniel R. Herndon

Daniel R. Herndon
11
EXHIBIT 10.2
HOME FEDERAL SAVINGS AND LOAN ASSOCIATION

This EMPLOYMENT AGREEMENT (this “Agreement”), is made and entered into as of the 21st day of
between Home Federal Savings and Loan Association (the “Association” or the “Employer”), a federally chartered
association which is the wholly owned subsidiary of Home Federal Bancorp, Inc. of Louisiana (the “Corporation”
Barlow (the “Executive”).
WITNESSETH
WHEREAS, the Executive shall be employed as President and Chief Operating Officer of the Association;
WHEREAS, the Association desires to assure itself of the continued availability of the Executive’s service
this Agreement; and
WHEREAS, the Executive is willing to serve the Association on the terms and conditions hereinafter set forth
NOW THEREFORE, in consideration of the mutual agreements herein contained, and upon the other term
hereinafter provided, the Association and the Executive hereby agree as follows:
1. Definitions. The following words and terms shall have the meanings set forth below for the
Agreement:
(a) Annual Compensation. The Executive’s “Annual Compensation” for purposes of determining se
under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termina
cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Dat
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 beca
dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to
duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-an
(d) Change in Control. “Change in Control” shall mean a change in the ownership of the Co
Association, a change in the effective control of the Corporation or the Association or a change in the ownership
portion of the assets of the Corporation or the Association, in each case as provided under Section 409A of th
regulations thereunder; provided, however, that neither any second-step conversion and reorganization in which the
exist nor any increase in the ownership of the Corporation by the MHC shall be deemed to constitute a Change in Co
(f) Date of Termination. “Date of Termination” shall mean (i) if the Executive’s employment i
Cause, the date on which the Notice of Termination is given, and (ii) if the Executive’s employment is terminated for a
the date specified in such Notice of Termination.
(h) Effective Date. The Effective Date of this Agreement shall mean February 21, 2009.
(i) Disability. “Disability” shall mean the Executive (i) is unable to engage in any substantial gainful a
of any medically determinable physical or mental impairment which can be expected to result in death or can be expe
continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental im
can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, r
replacement benefits for a period of not less than three months under an accident and health plan covering em
Employer.
(j) ERISA. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
(i) Good Reason. “Good Reason” means the occurrence of any of the following conditions:
(i) any material breach of this Agreement by the Association, including without limitation any of th
material diminution in the Executive’s base compensation, (B) a material diminution in the Executive’s authority, duties or
prescribed in Section 2, or (C) any requirement that the Executive report to a corporate officer or employee of the Asso
reporting directly to the Chairman of the Board and Chief Executive Officer of the Association (the “Association Board”), or
(ii) any material change in the geographic location at which the Executive must perform his se
Agreement;
provided, however, that prior to any termination of employment for Good Reason, the Executive must first provide
the Association within ninety (90) days of the initial existence of the condition, describing the existence of such co
Association shall thereafter have the right to remedy the condition within thirty (30) days of the date the Associat
written notice from the Executive. If the Association remedies the condition within such thirty (30) cure period, then n
shall be deemed to exist with respect to such condition. If the Association does not remedy the condition within suc
cure period, then the Executive may deliver a Notice of Termination for Good Reason at any time within sixty (60) da
expiration of such cure period.
2
(l) MHC. “MHC” shall mean Home Federal Mutual Holding Company of Louisiana, the paren
company for the Corporation and the Association.
(m) Notice of Termination. Any purported termination of the Executive’s employment by the Ass
reason, including without limitation for Cause, Disability or Retirement, or by the Executive for any reason, including w
for Good Reason, shall be communicated by a written “Notice of Termination” to the other party hereto. For
Agreement, a “Notice of Termination” shall mean a dated notice which (i) indicates the specific termination p
Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for te
Executive’s employment under the provision so indicated, (iii) specifies a Date of Termination, which shall be effectiv
the Association terminates the Executive’s employment for Cause, and (iv) is given in the manner specified in Section
(n) Retirement. “Retirement” shall means voluntary termination by the Executive which constitu
including early retirement, under the Association’s 401(k) plan.
(a) The Association hereby employs the Executive as the President and Chief Operating Officer of
and the Executive hereby accepts said employment and agrees to render such services to the Association on the term
set forth in this Agreement. The terms and conditions of this Agreement shall be and remain in effect during the pe
beginning on the Effective Date of this Agreement and ending on the first anniversary of the Effective Date, plus su
any, as are provided pursuant to Section 2(b) hereof (the “Employment Period”).
(b) Beginning on the day that is the first annual anniversary of the Effective Date and on each ann
thereafter, the term of this Agreement shall be extended for a period of one additional year, provided that the Employ
notice to the Executive in writing at least 30 days prior to such day that the term of this Agreement shall not be e
and/or the Executive has not given notice to the Employer of his election not to extend the term at least thirty (30) d
such annual anniversary date. If any party gives timely notice that the term will not be extended as of any such an
date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this
refer both to the initial term and successive terms.
3
(c) Nothing in this Agreement shall be deemed to prohibit the Association at any time from terminating
employment during the Employment Period for any reason, provided that the relative rights and obligations of the Ass
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 operations of the Association
officers that report to him. The Executive shall also oversee the implementation of the policies adopted by the Board
the Association. In addition, during the term of this Agreement, the Executive shall perform such executive
Association as may be consistent with his title and from time to time assigned to him by the Association’s Board of Di
(a) The Employer shall compensate and pay the Executive for his services during the term of this
minimum base salary of $150,000 per year (“Base Salary”), which amount may be increased from time to time in s
may be determined by the Board of Directors of the Employer and may not be decreased without the Executive’s
consent. In addition to his Base Salary, the Executive shall be entitled to receive during the term of this Agreem
payments as may be determined by the Board of Directors of the Employer.
(b) During the term of this Agreement, the Executive shall be entitled to participate in and receive th
pension or other retirement benefit plan, profit sharing, employee stock ownership, or other plans, benefits and pr
employees and executives of the Employer, to the extent commensurate with his then duties and responsibilities, as fix
of Directors of the Employer. The Association shall not make any changes in such plans, benefits or privileges which
affect the Executive’s rights or benefits thereunder, unless such change occurs pursuant to a program applicable
officers of the Association and does not result in a proportionately greater adverse change in the rights of or benefits
as compared with any other executive officer of the Association. Nothing paid to the Executive under any plan
presently in effect or made available in the future shall be deemed to be in lieu of the salary payable to the Execu
Section 3(a) hereof.
(c) During the term of this Agreement, the Executive shall be entitled to paid annual vacation in acco
policy as established from time to time by the Board of Directors of the Employer. The Executive shall not be entitle
additional compensation from the Employer for failure to take a vacation, nor shall the Executive be able to acc
vacation time from one year to the next, except to the extent authorized by the Board of Directors of the Employer.
(d) During the term of this Agreement, the Employer shall provide medical and dental insurance at n
Executive for the benefit of the Executive and his spouse and minor children. The terms of such medical and dental in
the same or substantially similar to the coverage provided by the Association as of the date of this Agreement.
4
(e) During the term of this Agreement, the Employer shall provide the Executive with an automobile co
make and model of automobiles provided to other senior executive officers of the Association. The Employer shal
and shall pay for all costs of insurance coverage, repairs, maintenance and other incidental expenses, including license,
(f) Except as otherwise agreed between the Corporation and the Association and to the extent ap
Executive's compensation, benefits, and severance and (ii) expenditures made by the Executive on behalf of the As
forth in this Agreement, shall be paid by the Corporation and the Association in the same proportions as the (A) ti
and (B) expenditures actually expended by the Executive on the business of the Corporation and the business of
respectively. For this purpose, the Executive shall maintain, and provide to the Association on at least a
documentation of the time and expenses expended by the Executive on the business of each of the Corporation and
No provision contained in this Agreement shall require the Association to pay any portion of the Executive’s compen
severance and expenses required to be paid by the Corporation pursuant to this Agreement.
4. Expenses. The Employer shall reimburse the Executive or otherwise provide for or pay fo
expenses incurred by the Executive in furtherance of or in connection with the business of the Employer, including, b
limitation, automobile expenses described in Section 3(e) hereof, and traveling expenses, and all reasonable entertai
(whether incurred at the Executive’s residence, while traveling or otherwise), subject to such reasonable documenta
as may be established by the Board of Directors of the Employer. If such expenses are paid in the first instance by th
Employer shall reimburse the Executive therefor. Such reimbursement shall be paid promptly by the Employer and
later than March 15th of the year immediately following the year in which such expenses were incurred.
5. Termination.
(a) The Association shall have the right, at any time upon prior Notice of Termination, to terminate
employment hereunder for any reason, including without limitation termination for Cause, Disability or Retirement, a
shall have the right, upon prior Notice of Termination, to terminate his employment hereunder for any reason.
(b) In the event that (i) the Executive’s employment is terminated by the Association for Cause or (i
terminates his employment hereunder other than for Disability, Retirement, death or Good Reason, the Executive sh
pursuant to this Agreement to compensation or other benefits for any period after the applicable Date of Termination.
5
(c) In the event that the Executive’s employment is terminated as a result of Disability, Retirement or
death during the term of this Agreement, the Executive shall have no right pursuant to this Agreement to compe
benefits for any period after the applicable Date of Termination.
(d) In the event that (i) a Change in Control of the Corporation or the Association occurs, (ii)
employment is terminated by the Association for other than Cause, Disability, Retirement or the Executive’s de
employment is terminated by the Executive for Good Reason, then the Association shall, subject to the provisions of S
if applicable,
(A) pay to the Executive, in a lump sum as of the Date of Termination, a cash severance amount equal
that portion of the Executive’s Annual Compensation paid by the Association,
(B) maintain and provide for a period ending at the earlier of (i) twelve (12) months after the Date of
(ii) the date of the Executive’s full-time employment by another employer (provided that the Executive is entitled un
such employment to benefits substantially similar to those described in this subparagraph (B)), at no cost to th
Executive’s continued participation in all group insurance, life insurance, health and accident, disability insurance
Association in which the Executive was entitled to participate immediately prior to the Date of Termination
continuation of any vacation time, sick leave or similar leave), subject to subparagraphs (C) and (D) below,
(C) in the event that the Executive’s participation in any plan, program or arrangement as provided
(B) of this Section 5(d) is barred, or during such period any such plan, program or arrangement is discontinued
thereunder are materially reduced, the Association shall arrange to provide the Executive with benefits substantially
which the Executive was entitled to receive under such plans, programs and arrangements immediately prior
Termination or, if such coverage cannot be obtained, pay a lump sum cash equivalency amount within thirty (30) da
Date of Termination based on the annualized rate of premiums being paid by the Association as of the Date of Termin
(D) any insurance premiums payable by the Association pursuant to Section 5(d)(B) or (C) shall be
times and in such amounts as if the Executive was still an employee of the Association, subject to any increases
imposed by the insurance company or COBRA, and the amount of insurance premiums required to be paid by the A
taxable year shall not affect the amount of insurance premiums required to be paid by the Association in any other tax
6. Limitation of Benefits under Certain Circumstances. If the payments and benefits pursu
hereof, either alone or together with other payments and benefits which the Executive has the right to receive from
and/or the Corporation, would constitute a “parachute payment” under Section 280G of the Code, then the payme
payable by the Association pursuant to Section 5 hereof shall be reduced by the minimum amount necessary to result
the payments and benefits payable by the Association under Section 5 being non-deductible to the Association pur
280G of the Code and subject to the excise tax imposed under Section 4999 of the Code. In no event shall th
benefits payable under Section 5 exceed three times the Executive’s average taxable income from the Associa
calendar years (or such shorter period that the Executive has been employed by the Association) preceding the y
Date of Termination occurs, with any benefits to be provided subsequent to the Date of Termination to be discounted
in accordance with Section 280G of the Code. If the payments and benefits under Section 5 are required to be re
severance shall be reduced first, followed by a reduction in the fringe benefits. The determination of any reduction
and benefits to be made pursuant to Section 5 shall be based upon the opinion of independent tax counsel selected by
and paid by the Association. Such counsel shall promptly prepare the foregoing opinion, but in no event later than
from the Date of Termination, and may use such actuaries as such counsel deems necessary or advisable for the pu
contained in this Section 6 shall result in a reduction of any payments or benefits to which the Executive may b
termination of employment under any circumstances other than as specified in this Section 6, or a reduction in th
benefits specified in Section 5 below zero.
6
(a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking ot
or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executiv
employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(B) ab
(b) The specific arrangements referred to herein are not intended to exclude any other vested benefit
available to the Executive upon a termination of employment with the Association pursuant to employee bene
Association or the Corporation or otherwise.
8. Withholding. All payments required to be made by the Association hereunder to the Executive sh
the withholding of such amounts, if any, relating to tax and other payroll deductions as the Association shall determin
be withheld pursuant to any applicable law or regulation.
9. Assignability. The Association may assign this Agreement and its rights and obligations hereund
not in part, to any corporation, bank or other entity with or into which the Association may hereafter merge or consoli
the Association may transfer all or substantially all of its assets, if in any such case said corporation, bank or othe
operation of law or expressly in writing assume all obligations of the Association hereunder as fully as if it had been o
party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Executive m
transfer this Agreement or any rights or obligations hereunder.
7
10. Notice. For the purposes of this Agreement, notices and all other communications provided for in
shall be in writing and shall be deemed to have been duly given when delivered or mailed by certified or registered ma
requested, postage prepaid, addressed to the respective addresses set forth below:
To the Association: Secretary

Home Federal Savings and Loan Association
624 Market Street
To the Executive: James R. Barlow

11. Amendment; Waiver. No provisions of this Agreement may be modified, waived or dischar
waiver, modification or discharge is agreed to in writing signed by the Executive and such officer or officers as ma
designated by the Association Board to sign on its behalf. No waiver by any party hereto at any time of any brea
party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such othe
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent tim
notwithstanding anything in this Agreement to the contrary, the Association may amend in good faith any terms of
including retroactively, in order to comply with Section 409A of the Code.
12. Governing Law. The validity, interpretation, construction and performance of this Agreement sh
by the laws of the United States where applicable and otherwise by the substantive laws of the State of Louisiana.
13. Nature of Obligations. Nothing contained herein shall create or require the Association to crea
kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to
from the Association hereunder, such right shall be no greater than the right of any unsecured general creditor of the A
14. Headings. The section headings contained in this Agreement are for reference purposes only and
in any way the meaning or interpretation of this Agreement.
15. Validity. The invalidity or unenforceability of any provision of this Agreement shall not affec
enforceability of any other provisions of this Agreement, which shall remain in full force and effect.
16. Counterparts. This Agreement may be executed in one or more counterparts, each of which sha
be an original but all of which together will constitute one and the same instrument.
8
17. Regulatory Actions. The following provisions shall be applicable to the parties to the exte
required to be included in employment agreements between a savings association and its employees pursuant to Sect
the Office of Thrift Supervision (“OTS”) Rules and Regulations, 12 C.F.R. §563.39(b), or any successor there
controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 h
(a) If the Executive is suspended from office and/or temporarily prohibited from participating in th
Association’s affairs pursuant to notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposi
(“FDIA”)(12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Association’s obligations under this Agreement shall be sus
date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Associ
discretion: (i) pay the Executive all or part of the compensation withheld while its obligations under this Agreement
and (ii) reinstate (in whole or in part) any of its obligations which were suspended.
(b) If the Executive is removed from office and/or permanently prohibited from participating in th
Association’s affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. §§1818(e
all obligations of the Association under this Agreement shall terminate as of the effective date of the order, but ves
Executive and the Association as of the date of termination shall not be affected.
(c) If the Association is in default, as defined in Section 3(x)(1) of the FDIA (12 U.S.C. §1813(x)(1))
under this Agreement shall terminate as of the date of default, but vested rights of the Executive and the Association
termination shall not be affected.
(d) All obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5
extent that it is determined that continuation of the Agreement for the continued operation of the Association is nece
Director of the OTS, or his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters in
to provide assistance to or on behalf of the Association under the authority contained in Section 13(c) of the FD
§1823(c)); or (ii) by the Director of the OTS, or his/her designee, at the time the Director or his/her designee approv
merger to resolve problems related to operation of the Association or when the Association is determined by the Dire
to be in an unsafe or unsound condition, but vested rights of the Executive and the Employer as of the date of termina
affected.
18. Regulatory Prohibition. Notwithstanding any other provision of this Agreement to the contrary
made to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their complian
18(k) of the FDIA (12 U.S.C. §1828(k)) and 12 C.F.R. Part 359.
19. Changes in Statutes or Regulations. If any statutory or regulation provision referenced herein
changed or re-numbered, or is replaced by a separate provision, then the references in this Agreement to such statuto
provision shall be deemed to be a reference to such section as amended, re-numbered or replaced.
9
20. Entire Agreement. This Agreement embodies the entire agreement between the Association an
with respect to the matters agreed to herein. All prior agreements, oral or written, between the Association and the
respect to the matters agreed to herein are hereby superseded and shall have no force or effect.
10
IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written.
Attest HOME FEDERAL SAVINGS AND

LOAN ASSOCIATION
/s/ DeNell W. Mitchell By: /s/ Daniel R. Herndon

DeNell W. Mitchell Daniel R. Herndon
Corporate Secretary Chairman of the Board and Chief Executive O
EXECUTIVE
By: /s/ James R. Barlow

James R. Barlow
11
EXHIBIT 10.3
HOME FEDERAL BANCORP, INC. OF LOUISIANA

This EMPLOYMENT AGREEMENT (this “Agreement”), is made and entered into as of

the 21st day of February 2009, between Home Federal Bancorp, Inc. of Louisiana, a Federal
corporation (the “Corporation” or the “Employer”), and Daniel R. Herndon (the “Executive”).
WITNESSETH:
WHEREAS, the Executive is currently employed as Chairman, President and Chief

Executive Officer of the Corporation;
WHEREAS, the Executive is currently employed as Chairman, President and Chief

Executive Officer of Home Federal Savings and Loan Association, a federally chartered savings
association (the “Association”) and the wholly owned subsidiary of the Corporation;
WHEREAS, the Corporation desires to assure itself of the continued availability of the
Executive’s services as provided in this Agreement;
WHEREAS, the Executive is willing to serve the Corporation on the terms and conditions
hereinafter set forth; and
WHEREAS, the Executive is concurrently entering into a separate employment agreement

with the Association (the “Association Agreement”).
NOW THEREFORE, in consideration of the mutual agreements herein contained, and upon
the other terms and conditions hereinafter provided, the Corporation 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) the 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 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 or
(d) Change in Control. “Change in Control” shall mean a change in the ownership of
the Corporation or the Association, a change in the effective control of the Corporation or the
Association or a change in the ownership of a substantial portion of the assets of the Corporation or
the Association, in each case as provided under Section 409A of the Code and the regulations
thereunder; provided, however, that neither any second-step conversion and reorganization in which
the MHC ceases to exist nor any increase in the ownership of the Corporation by the MHC shall be
deemed to constitute a Change in Control.
(f) 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.
(g) 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.
(h) Effective Date. The Effective Date of this Agreement shall mean February 21,
2009.
(i) ERISA. “ERISA” means the Employee Retirement Income Security Act of 1974,
as amended.
(j) Good Reason. “Good Reason” means the occurrence of any of the following
conditions:
(i) any material breach of this Agreement by the Corporation, including

without limitation any of the following: (A) a material diminution in the Executive’s base
compensation, (B) a material diminution in the Executive’s authority, duties or responsibilities as
described in Section 2, or (C) any requirement that the Executive report to a corporate officer or
employee of the Corporation instead of reporting directly to the Board of Directors of the
Corporation (the “Corporation Board”), or
(ii) any material change in the geographic location at which the

Executive must perform his services under this Agreement;
2
provided, however, that prior to any termination of employment for Good Reason, the Executive
must first provide written notice to the Corporation within ninety (90) days of the initial existence of
the condition, describing the existence of such condition, and the Corporation shall thereafter have
the right to remedy the condition within thirty (30) days of the date the Corporation received the
written notice from the Executive. If the Corporation remedies the condition within such thirty (30)
cure period, then no Good Reason shall be deemed to exist with respect to such condition. If the
Corporation 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 Corporation 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.
(l) MHC. “MHC” shall mean Home Federal Mutual Holding Company of Louisiana,
the parent mutual holding company for the Corporation and the Association.
(m) Notice of Termination. Any purported termination of the Executive’s

employment by the Corporation for any reason, including without limitation for Cause, Disability or
Retirement, 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 not less than thirty (30) nor
more than ninety (90) days after such Notice of Termination is given, except in the case of the
Corporation’s termination of the Executive’s employment for Cause, which shall be effective
immediately, and (iv) is given in the manner specified in Section 10 hereof.
(n) Retirement. “Retirement” shall mean a voluntary termination by the Executive

which constitutes a retirement, including early retirement, under the Association’s 401(k) plan.
(a) The Corporation hereby employs the Executive as Chairman of the Board,
President and Chief Executive Officer and the Executive hereby accepts said employment and agrees
to render such services to the Corporation 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 of three years beginning on the Effective Date of this Agreement and ending on the third
anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to Section
2(b) hereof (the “Employment Period”).
(b) Beginning on the day that is the first annual anniversary of the Effective Date and
on each annual anniversary thereafter, the term of this Agreement shall be extended for a period of
one additional year, provided that the Employer has not given notice to the Executive in writing at
least 30 days prior to such day that the term of this Agreement shall not be extended further and/or
the Executive has not given notice to the Employer of his election not to extend the term at least thirty
(30) days prior to any such annual anniversary date. If any party gives timely notice that the term will
not be extended as of any such annual anniversary 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.
3
(c) Nothing in this Agreement shall be deemed to prohibit the Corporation at any time
from terminating the Executive’s employment during the Employment Period for any reason,
provided that the relative rights and obligations of the Corporation and the Executive in the event of
any such termination shall be determined under this Agreement. The termination of the Executive’s
position as Chairman and/or President and Chief Executive Officer shall not result automatically in
termination of the Executive’s service as a director on the Corporation Board.
(d) During the term of this Agreement, the Executive shall manage the operations of
the Corporation and oversee the officers that report to him. The Executive shall also oversee the
implementation of the policies adopted by the Board of Directors of the Corporation and shall report
directly to the Board of Directors. In addition, the Executive shall perform such executive services
for the Corporation as may be consistent with his titles and from time to time assigned to him by the
Corporation’s Board of Directors.
(e) During the term of this Agreement, the Corporation Board shall nominate the
Executive to be a director of the Corporation when his term expires and recommend his election to
the stockholders of the Corporation, subject to the fiduciary duties of the Corporation Board. In
addition, the Corporation agrees to approve the Executive’s election as a director of the Association
throughout the term of this Agreement.
(a) The Employer shall compensate and pay the Executive for his services during the
term of this Agreement at a minimum base salary of $135,500 per year (“Base Salary”), minus the
Base Salary paid to Executive by the Association, which amount may be increased from time to time
in such amounts as may be determined by the Board of Directors of the Employer and may not be
decreased without the Executive’s express written consent. In addition to his Base Salary, the
Executive shall be entitled to receive during the term of this Agreement such bonus payments as may
be determined by the Boards of Directors of the Employer.
(b) 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, stock option,
restricted stock, 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 Board of Directors of the Employer. The Corporation shall not make
any changes in such 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 Corporation 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
Corporation. 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.
4
(c) During the term of this Agreement, the Executive shall be entitled to paid annual
vacation in accordance with the policy as established from time to time by the Board of Directors of
the Employer. The Executive shall not be entitled to receive any additional compensation from the
Employer for failure to take a vacation, nor shall the Executive be able to accumulate unused
vacation time from one year to the next, except to the extent authorized by the Board of Directors of
the Employer.
(d) During the term of this Agreement and during a period not to exceed five years after
the Executive’s Retirement during which the Executive provides consulting services to the
Association and/or the Corporation (the “Consulting Period”), the Employer shall provide medical
and dental insurance, to the extent not provided by the Association, at no expense to the Executive
for the benefit of the Executive and his spouse; furthermore, in the event of the death of the Executive
prior to the earlier to occur of the expiration of the term of this Agreement or the Consulting Period,
as applicable, the Employer shall provide, to the extent not provided by the Association, the
Executive’s spouse, at no expense to the spouse, with said medical and dental insurance until the
date when the term of this Agreement or the Consulting Period, as applicable, would have expired
but for Executive’s death. The terms of such medical and dental insurance shall be the same or
substantially similar to the coverage provided by the Association as of the date of this Agreement.
(e) During the term of this Agreement, in keeping with past practices, the Employer
shall continue to provide the Executive, to the extent not provided by the Association, with an
automobile comparable to the one currently provided to him. The Employer shall be responsible and
shall pay for all costs of insurance coverage, repairs, maintenance and other incidental expenses,
including license, fuel and oil.
(f) Except as otherwise agreed between the Corporation and the Association, (i) the
Executive's compensation, benefits, and severance and (ii) expenditures made by the Executive on
behalf of the Corporation, as set forth in this Agreement, shall be paid by the Corporation and the
Association in the same proportions as the (A) time and services and (B) expenditures actually
expended by the Executive on the business of the Corporation and the business of the Association,
respectively. For this purpose, the Executive shall maintain, and provide to the Corporation 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 Association.
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 described
in Section 3(e) hereof, and 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 Board of Directors of the Employer. 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
5. Termination.
(a) The Corporation 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, Disability or Retirement, 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 (i) the Executive’s employment is terminated by the Corporation
for Cause or (ii) the Executive terminates his employment hereunder other than for Disability,
Retirement, 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.
(c) In the event that the Executive’s employment is terminated as a result of Disability,
Retirement 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.
(d) In the event that (i) a Change in Control of the Corporation or the Association
occurs, (ii) the Executive’s employment is terminated by the Corporation for other than Cause,
Disability, Retirement or the Executive’s death or (iii) such employment is terminated by the
Executive for Good Reason, then the Corporation shall:
(A) pay to the Executive, in a lump sum as of the Date of Termination, a cash
severance amount equal to three (3) times that portion of the Executive’s Annual Compensation paid
by the Corporation,
(B) maintain and provide for a period ending at the earlier of (i) thirty-six (36) 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
Executive’s continued participation in all group insurance, life insurance, health and accident,
disability insurance offered by the Corporation in which the Executive was entitled to participate
immediately prior to the Date of Termination (other than the continuation of any vacation time, sick
leave or similar leave), subject to subparagraphs (C) and (D) below,
(C) in the event that the Executive’s participation in any plan, program or arrangement
as provided in subparagraph (B) of this Section 5(d) is barred, or during such period any such plan,
program or arrangement is discontinued or the benefits thereunder are materially reduced, the
Corporation shall arrange to provide the Executive with benefits substantially similar to those which
the Executive was entitled to receive under such plans, programs and arrangements immediately prior
to the Date of Termination 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 Corporation as of the Date of Termination, and
6
(D) any insurance premiums payable by the Corporation pursuant to Section 5(d)(B)
or (C) shall be payable at such times and in such amounts as if the Executive was still an employee of
the Corporation, 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 Corporation in any
taxable year shall not affect the amount of insurance premiums required to be paid by the
Corporation in any other taxable year.
6. Payment of Additional Benefits under Certain Circumstances.
(a) If (i) 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
Corporation and/or the Association (including, without limitation, the payments and benefits which
the Executive would have the right to receive from the Association pursuant to Section 5 of the
Association Agreement before giving effect to any reduction in such amounts pursuant to Section 6 of
the Association Agreement), would constitute a “parachute payment” as defined in Section
280G(b)(2) of the Code (the “Initial Parachute Payment,” which includes the amounts paid pursuant
to clause (A) below), and (ii) the Initial Parachute Payment either equals three times the Executive’s
Base Amount or exceed three times the Executive’s Base Amount but by an amount less than 5% of
three times the Executive’s Base Amount, then the Initial Parachute Payment shall be reduced by the
least amount necessary to bring the present value of the payments and benefits below three times the
Executive’s Base Amount, with the cash severance to be reduced first. As used in this Agreement,
“Base Amount” shall have the meaning set forth in Section 280G(b)(3) of the Code.
(b) If the Initial Parachute Payment exceeds 105% of three times the Executive’s
Base Amount, then the Corporation shall pay to the Executive, in a lump sum within five business
days after the Date of Termination, a lump sum cash amount equal to the sum of the following:
(A) the amount by which the payments and benefits that would have otherwise been
paid by the Association to the Executive pursuant to Section 5 of the Association Agreement are
reduced by the provisions of Section 6 of the Association Agreement;
(B) twenty (20) percent (or such other percentage equal to the tax rate imposed by
Section 4999 of the Code) of the amount by which the Initial Parachute Payment exceeds the
Executive’s “base amount” from the Corporation and the Association, as defined in Section
280G(b)(3) of the Code, with the difference between the Initial Parachute Payment and the
Executive’s base amount being hereinafter referred to as the “Initial Excess Parachute Payment”; and
7
(C) such additional amount (tax allowance) as may be necessary to compensate the
Executive for the payment by the Executive of state, local and federal income and excise taxes on the
payment provided under clause (B) above and on any payments under this clause (C). In computing
such tax allowance, the payment to be made under clause (B) above shall be multiplied by the “gross
up percentage” (“GUP”). The GUP shall be determined as follows:
GUP = Tax Rate

1-Tax Rate
The Tax Rate for purposes of computing the GUP shall be the highest marginal federal, state and
local income and employment-related tax rate (including Social Security and Medicare taxes),
including any applicable excise tax rate, applicable to the Executive in the year in which the payment
under clause (B) above is made, and shall also reflect the phase-out of deductions and the ability to
deduct certain of such taxes.
(c) Notwithstanding the foregoing, if it shall subsequently be determined in a final

judicial determination or a final administrative settlement to which the Executive is a party that the
actual excess parachute payment as defined in Section 280G(b)(1) of the Code is different from the
Initial Excess Parachute Payment (such different amount being hereafter referred to as the
“Determinative Excess Parachute Payment”), then the Corporation’s independent tax counsel shall
determine the amount (the “Adjustment Amount”) which either the Executive must pay to the
Corporation or the Corporation must pay to the Executive in order to put the Executive (or the
Corporation, as the case may be) in the same position the Executive (or the Corporation, as the case
may be) would have been if the Initial Excess Parachute Payment had been equal to the
Determinative Excess Parachute Payment. In determining the Adjustment Amount, the independent
tax counsel shall take into account any and all taxes (including any penalties and interest) paid by or
for the Executive or refunded to the Executive or for the Executive’s benefit. As soon as practicable
after the Adjustment Amount has been so determined, and in no event more than thirty (30) days
after the Adjustment Amount has been determined, the Corporation shall pay the Adjustment
Amount to the Executive or the Executive shall repay the Adjustment Amount to the Corporation, as
the case may be.
(d) In each calendar year that the Executive receives payments of benefits that
constitute a parachute amount, the Executive shall report on his state and federal income tax returns
such information as is consistent with the determination made by the independent tax counsel of the
Corporation as described above. The Corporation shall indemnify and hold the Executive harmless
from any and all losses, costs and expenses (including without limitation, reasonable attorneys’ fees,
interest, fines and penalties) which the Executive incurs as a result of so reporting such information,
with such indemnification to be paid by the Corporation to the Executive as soon as practicable and
in any event no later than March 15 th of the year immediately following the year in which the amount
subject to indemnification was determined. The Executive shall promptly notify the Corporation in
writing whenever the Executive receives notice of the institution of a judicial or administrative
proceeding, formal or informal, in which the federal tax treatment under Section 4999 of the Code of
any amount paid or payable under this Section 6 is being reviewed or is in dispute. The Corporation
shall assume control at its expense over all legal and accounting matters pertaining to such federal tax
treatment (except to the extent necessary or appropriate for the Executive to resolve any such
proceeding with respect to any matter unrelated to amounts paid or payable pursuant to this Section
6) and the Executive shall cooperate fully with the Corporation in any such proceeding. The
Executive shall not enter into any compromise or settlement or otherwise prejudice any rights the
Corporation may have in connection therewith without the prior consent of the Corporation.
8
(e) If the payments and benefits which the Executive would have the right to receive
from the Association pursuant to Section 5 of the Association Agreement are reduced pursuant to
Section 6 of the Association Agreement for reasons unrelated to Section 280G of the Code, then the
Corporation shall pay to the Executive, in a lump sum within five business days after the Date of
Termination, a cash amount equal to the amount by which the payments and benefits that would have
otherwise been paid by the Association pursuant to Section 5 of the Association Agreement are
reduced by the provisions of Section 6 of the Association Agreement.
(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 Section 5(d)(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
Corporation pursuant to employee benefit plans of the Corporation or the Association or otherwise.
8. Withholding. All payments required to be made by the Corporation hereunder to

the Executive shall be subject to the withholding of such amounts, if any, relating to tax and other
payroll deductions as the Corporation shall determine are required to be withheld pursuant to any
applicable law or regulation.
9. Assignability. The Corporation 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 Corporation may hereafter merge or consolidate or to which the Corporation 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 Corporation 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.
10. 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:
9
To the Corporation: Secretary

624 Market Street
To the Executive: Daniel R. Herndon

11. 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 Board of Directors
of the Corporation 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. In addition, notwithstanding anything in
this Agreement to the contrary, the Corporation may amend in good faith any terms of this
Agreement, including retroactively, in order to comply with Section 409A of the Code.
12. 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.
13. Nature of Obligations. Nothing contained herein shall create or require the
Corporation 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 Corporation hereunder,
such right shall be no greater than the right of any unsecured general creditor of the Corporation.
14. 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.
15. 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.
16. 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 will constitute one and the
same instrument.
17. Regulatory Prohibition. 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.
10
18. Changes in Statutes or Regulations. If any statutory or regulation 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.
19. Entire Agreement. This Agreement embodies the entire agreement between the
Corporation and the Executive with respect to the matters agreed to herein. All prior agreements
between the Corporation and the Executive with respect to the matters agreed to herein are hereby
superseded and shall have no force or effect. Notwithstanding the foregoing, nothing contained in
this Agreement shall affect the Association Agreement of even date being entered into between the
Association and the Executive.
IN WITNESS WHEREOF, this Agreement has been executed as of the date first above
written.
Attest: HOME FEDERAL BANCORP, INC. OF

LOUISIANA
/s/ DeNell W. Mitchell By: /s/ Scott D. Lawrence

DeNell W. Mitchell Scott D. Lawrence
Corporate Secretary Chairman of the Audit Committee
EXECUTIVE
By: /s/ Daniel R. Herndon

Daniel R. Herndon
11
EXHIBIT 99.1

624 Market Street
February 23, 2009
FOR IMMEDIATE RELEASE:

CONTACT:
Daniel R. Herndon, Chief Executive Officer
Clyde D. Patterson, Executive Vice President
(318) 222−1145
HOME FEDERAL SAVINGS AND LOAN ASSOCIATION APPOINTS NEW

PRESIDENT AND CHIEF OPERATING OFFICER
Shreveport, Louisiana -- Home Federal Bancorp, Inc. of Louisiana (the "Company") (OTCBB:
HFBL), the “mid-tier” holding company of Home Federal Savings and Loan Association (the
“Association”), announced today the appointment of James R. Barlow as President and Chief
Operating Officer of the Association. Mr. Barlow was also elected to the Board of Directors of the
Association.
Mr. Barlow’s most recent experience includes serving as Executive Vice President and Area
Manager of the Arkansas-Louisiana-Texas area commercial real estate operations of Regions
Bank. Mr. Barlow spent 11 years at Regions Bank including prior to being appointed Area
Manager, serving as Regions’ City President for Shreveport-Bossier as well as Commercial Loan
Manager for Shreveport-Bossier.
“Jim is a great addition to our organization and we look forward to working with him. His strong
commercial lending background will allow us to implement the initiatives necessary to transition the
Association from a traditional residential lender to a community bank with a strong emphasis on
providing commercial products and services for the small and medium-sized businesses within our
community,” said Dan Herndon, Chairman of the Board and Chief Executive Officer. Mr. Herndon
further stated, “Jim’s extensive experience within the commercial banking industry, combined with his
managerial and people skills is a rare combination.”
Home Federal Bancorp, Inc. of Louisiana is the mid-tier thrift holding company for Home Federal
Savings and Loan Association which conducts business from its main office and two branch offices in
northwest Louisiana.
Statements contained in this news release which are not historical facts may be forward-
looking statements as that term is defined in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements are subject to risks and uncertainties which could
cause actual results to differ materially from those currently anticipated due to a number of
factors. Factors which could result in material variations include, but are not limited to,
changes in interest rates which could affect net interest margins and net interest income,
competitive factors which could affect net interest income and noninterest income, changes in
demand for loans, deposits and other financial services in the Company's market area;
changes in asset quality, general economic conditions as well as other factors discussed in
documents filed by the Company with the Securities and Exchange Commission from time to
time. The Company undertakes no obligation to update these forward-looking statements to
reflect events or circumstances that occur after the date on which such statements were made.

HOME FEDERAL BANCORP, INC. OF LOUISIANA 8-K (Events or Changes Between Quarterly Reports) 2009-02-24

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HOME FEDERAL BANCORP, INC. OF LOUISIANA 8-K (Events or Changes Between Quarterly Reports) 2009-02-24

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Washington, D.C. 20549

Date of Report (Date of earliest event February 21, 2009

Home Federal Bancorp, Inc. of Louisiana

Federal 000-51117 86-1127166

624 Market Street, Shreveport, Louisiana 71101

Registrant's telephone number, including(318) 222-1145

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Ce

(a) Not applicable.

(f) Not applicable.

Item 7.01 Regulation FD Disclosure

Item 9.01 Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

The following exhibits are included herewith.

Exhibit No. Description

HOME FEDERAL BANCORP, INC. OF LOUISIANA

Date: February 23, 2009 By: /s/ Daniel R. Herndon

Exhibit No. Description

HOME FEDERAL SAVINGS AND LOAN ASSOCIATION

(k) IRS. “IRS” shall mean the Internal Revenue Service.

2. Term of Employment and Duties.

3. Compensation and Benefits.

7. Mitigation; Exclusivity of Benefits.

To the Association: Secretary

To the Executive: Daniel R. Herndon

Attest HOME FEDERAL SAVINGS AND

/s/ DeNell W. Mitchell By: /s/ Scott D. Lawrence

By: /s/ Daniel R. Herndon

HOME FEDERAL SAVINGS AND LOAN ASSOCIATION

(k) IRS. “IRS” shall mean the Internal Revenue Service.

2. Term of Employment and Duties.

3. Compensation and Benefits.

7. Mitigation; Exclusivity of Benefits.

To the Association: Secretary

To the Executive: James R. Barlow

Attest HOME FEDERAL SAVINGS AND

/s/ DeNell W. Mitchell By: /s/ Daniel R. Herndon

By: /s/ James R. Barlow

HOME FEDERAL BANCORP, INC. OF LOUISIANA

This EMPLOYMENT AGREEMENT (this “Agreement”), is made and entered into as of

WHEREAS, the Executive is currently employed as Chairman, President and Chief

WHEREAS, the Executive is currently employed as Chairman, President and Chief

WHEREAS, the Executive is concurrently entering into a separate employment agreement

(a) Annual Compensation. The Executive’s “Annual Compensation” for purposes

(i) any material breach of this Agreement by the Corporation, including

(ii) any material change in the geographic location at which the

(k) IRS. “IRS” shall mean the Internal Revenue Service.

(m) Notice of Termination. Any purported termination of the Executive’s

(n) Retirement. “Retirement” shall mean a voluntary termination by the Executive

2. Term of Employment and Duties.

3. Compensation and Benefits.

6. Payment of Additional Benefits under Certain Circumstances.

GUP = Tax Rate

(c) Notwithstanding the foregoing, if it shall subsequently be determined in a final

7. Mitigation; Exclusivity of Benefits.

8. Withholding. All payments required to be made by the Corporation hereunder to

To the Corporation: Secretary

To the Executive: Daniel R. Herndon

11. Amendment; Waiver. No provisions of this Agreement may be modified,

12. Governing Law. The validity, interpretation, construction and performance of

15. Validity. The invalidity or unenforceability of any provision of this Agreement

16. Counterparts. This Agreement may be executed in one or more counterparts,