IFC Letterhead] December 22, 2004Redemption and Loan Repayment Agreement • March 9th, 2005 • Irwin Financial Corp • State commercial banks • Indiana
This letter sets forth the agreement (“Agreement”) among Irwin Financial Corporation (“Irwin Financial”), Irwin Home Equity Corporation (“IHE”) and you (the “Shareholder”) with respect to the redemption of 1.36 of your shares of common stock (“Shares”) of IHE in connection with the repayment of your loan from Irwin Financial in the amount of $1.025 million, which will mature on January 29, 2005, together with accrued interest thereon (the “Shareholder Indebtedness”). Terms used but not otherwise defined herein have the meanings ascribed to them in that certain Shareholder Agreement dated October 8, 1996, as amended and restated (the “Shareholder Agreement”), by and among IHE, Irwin Financial and the Shareholder.
