February 13, 2001Executive Compensation Agreement • March 30th, 2001 • Upbancorp Inc • State commercial banks
The Board of Directors is seeking to clarify its employment relationship with executive staff, and we are in the process of eliminating the more formal written contracts and replacing them with letter agreements. Your Executive Agreement expired on December 31, 2000, and this letter contains the terms of the continuing employment relationship between you and Uptown National Bank of Chicago (the "Bank") as well as Upbancorp, Inc. The benefits triggered by a change in control of the Bank will be described in a separate letter, which will be offered to you with this correspondence. With the exception of the change in control benefits, this letter, when signed by you, will supersede and replace all prior contracts and agreements, and nothing in those prior documents shall survive, except as set forth in this letter.
