EXHIBIT 10.1
AMENDMENT
TO
WEST POINTE BANCORP, INC.
AND
WEST POINTE BANK AND TRUST COMPANY
SALARY CONTINUATION AGREEMENT
FOR
XXXXX X. BONE
THIS AMENDMENT executed on this 16th day of December, 2004, by and between
West Pointe Bancorp, Inc. and West Pointe Bank and Trust Company, a holding
company and a state commercial bank located in Belleville, Illinois (the
"Company") and Xxxxx X. Bone (the "Executive").
The Company and the Executive executed the West Pointe Bancorp, Inc. and
West Pointe Bank and Trust Company Salary Continuation Agreement dated January
1, 2003 (the "Agreement"). Pursuant to the power of amendment reserved by
Article 7 of the Agreement, the undersigned hereby amend, in part, said
Agreement for the purpose of increasing the Normal Retirement Benefit.
Therefore:
Article 2, Section 2.1.1 shall be deleted in its entirety and
replaced with Article 2, Section 2.1.1 below:
2.1.1 Amount of Benefit. The annual benefit under this Section 2.1 is
Seventy-One Thousand Nine Hundred Thirty-three Dollars ($71,933). The Company's
Board of Directors, in its sole discretion, may increase the annual benefit
under this Section 2.1.1; however, any increase shall require the recalculation
of Schedule A.
Schedule A of the Agreement shall be deleted in its entirety and
replaced by the attached new Schedule A.
IN WITNESS OF THE ABOVE, the Executive and the Company have agreed to this
Amendment.
EXECUTIVE: COMPANY:
West Pointe Bancorp, Inc.
West Pointe Bank And Trust Company
/s/ Xxxxx X. Bone By /s/ Xxxxx X. Xxxxxxxx
---------------------------- ---------------------
Xxxxx X. Bone Title President and Chief Executive Officer
XXXXX CONSULTING PLAN YEAR REPORTING
HYPOTHETICAL TERMINATION BENEFITS SCHEDULE-SCHEDULE A
XXXXX X. BONE
DOB: 9/2/1954
Plan Anniv Date: 1/1/2005
Normal Retirement: 9/2/2019, Age 65
Payment: Monthly Installments
PRE-RETIRE.
EARLY TERMINATION DISABILITY CHANGE OF CONTROL DEATH
Installment Installment Installment BENEFIT
Payable Immediately Payable Immediately Payable at 65 Installment
BENEFIT ACCRUAL Based On Based On Based On Based On
PERIOD DISCOUNT LEVEL BALANCE Vesting Accrual Vesting Accrual Vesting Benefit Benefit
ENDING RATE (1) (2) (3) (4) (5) (6) (7) (8) (9)
-------- -------- ------- ------- ------- ---------- ------------- -------- -------- -------- ------------
May 2004 23,429 0% 0 0% 0 100% 71,933 71,933
5/30/2004 Accrual Balance Rollover
Dec 2004 7.5% 71,933 36,453 0% 0 0% 0 100% 71,933 71,933
Dec 2005 7.5% 71,933 60,146 0% 0 0% 0 100% 71,933 71,933
Dec 2006 7.5% 71,933 85,678 0% 0 0% 0 100% 71,933 71,933
Dec 2007 7.5% 71,933 113,192 0% 0 0% 0 100% 71,933 71,933
Dec 2008 7.5% 71,933 142,842 20% 3,158 20% 3,158 100% 71,933 71,933
Dec 2009 7.5% 71,933 174,794 40% 7,729 40% 7,729 100% 71,933 71,933
Dec 2010 7.5% 71,933 209,226 60% 13,878 60% 13,878 100% 71,933 71,933
Dec 2011 7.5% 71,933 246,331 80% 21,786 80% 21,786 100% 71,933 71,933
Dec 2012 7.5% 71,933 286,317 100% 31,653 100% 31,653 100% 71,933 71,933
Dec 2013 7.5% 71,933 329,408 100% 36,416 100% 36,416 100% 71,933 71,933
Dec 2014 7.5% 71,933 375,843 100% 41,550 100% 41,550 100% 71,933 71,933
Dec 2015 7.5% 71,933 425,883 100% 47,082 100% 47,082 100% 71,933 71,933
Dec 2016 7.5% 71,933 479,808 100% 53,043 100% 53,043 100% 71,933 71,933
Dec 2017 7.5% 71,933 537,920 100% 59,467 100% 59,467 100% 71,933 71,933
Dec 2018 7.5% 71,933 600,542 100% 66,390 100% 66,390 100% 71,933 71,933
Sep 2019 7.5% 71,933 650,680 100% 71,933 100% 71,933 100% 71,933 71,933
September 2, 2019 Retirement; October 1, 2019 First Payment Date
1 The first line reflects just the initial values as of May 30, 2004.
* The purpose of this hypothetical illustration is to show the participant's
annual benefit based on various termination assumptions. Actual benefits are
based on the terms and provisions of the plan agreement executed between the
company and participant and may differ from those shown.
Securities offered through Xxxxx
Securities, Inc., DBA CCFS, Inc. Member NASD & SIPC. Los Angeles,
in Texas. Salary Continuation Xxxx Xxxxxxxxxx 00000-0000.
for Xxxx Xxxxxx Xxxx & Xxxxx Xx. Xx: 213-438-6300.
- Xxxxxxxxxx, XX 0000000 24239
199027 v5.35 12/10/2004:13
SCP-E,SD NB
