September 20, 2006Letter of Understanding • September 21st, 2006 • Main Street Trust Inc • Commercial banks, nec
As you know, Main Street Trust, Inc. (“Main Street”) has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with First Busey Corporation (“Busey”) with respect to the proposed transaction (the “Merger”) whereby Main Street will be merged with and into Busey. Among the conditions of the Merger is that the three principal executives of Main Street, each of whom is a party to an employment agreement with Main Street, or its predecessors (the “Employment Agreement”), execute and deliver to Main Street and Busey a letter of understanding as described in Section 6.14 of the Merger Agreement.
