Document:

exv10w1

 

EXHIBIT 10.1

AMENDMENT NO. 1

TO THE CENTRUE FINANCIAL CORPORATION

2003 STOCK INCENTIVE PLAN

     WHEREAS, Centrue Financial Corporation (the “Company”) maintains the Centrue Financial
Corporation 2003 Stock Incentive Plan (the “Plan”); and

     WHEREAS, the Board of Directors of the Company (the “Board”) has determined that it is in the
best interest of the Company to amend the Plan to provide the
Committee (as defined in the Plan)
additional authority with respect to the vesting and exercisability provisions set forth in option
agreements granted under the Plan.

     NOW THEREFORE, by virtue and in exercise of the amending power reserved to the Board under
Section 9 of the Plan, and pursuant to the authority delegated to the undersigned officer of the
Company by a resolution adopted by its Board, the Plan be and is hereby amended in the following
particulars, effective as of April 21, 2005:

	1.  	Section 5(b) of the Plan is amended in its entirety to read as follows:
	 
	   	“(b)     Terms of Options. Each option granted under the Plan shall be subject
to the terms and conditions set forth by the Committee in the stock option agreement
including, without limitation, option price, vesting schedule and option term.”
	 
	2.  	The first sentence of Section 5(c) of the Plan is amended to begin as follows:
	 
	   	“(c)     Additional Terms Applicable to All Options. Unless otherwise provided
by the Committee, each option shall be subject to the following terms and
conditions:”
	 
	3.  	The first sentence of Section 5(d) of the Plan is amended to begin as follows:
	 
	   	“(d)     Additional Terms Applicable to Incentive Options. Unless otherwise
provided by the Committee, each Incentive Stock Option shall be subject to the
following terms and conditions:”

     IN WITNESS WHEREOF, by action of the Board of Directors of the Company, the Company has caused
this First Amendment to be executed by its duly authorized officer this 21st day of April, 2005.

	 	 	 	 	 
	 	CENTRUE FINANCIAL CORPORATION

 	 
	 	By:  	 	 
	 	 	 	 
	 	Its:exv10w2

 

EXHIBIT 10.2

ADDENDUM TO THE

CENTRUE FINANCIAL CORPORATION

2003 STOCK INCENTIVE PLAN

INCENTIVE STOCK OPTION AGREEMENT

DATED OCTOBER 9, 2003

     THIS ADDENDUM shall be attached to and made a part of the Incentive Stock Option Agreement
(the “Agreement”) between Centrue Financial Corporation and Keith M. Roseland dated October 9, 2003
under the terms of the Centrue Financial Corporation 2003 Stock Incentive Plan (the “Plan”).
Effective as of April 21, 2005, the Agreement is revised as follows:

	1.  	Section 4 of the Agreement is revised in its entirety to provide the following:
	 
	   	      “4.      This Option shall vest in equal parts on each anniversary of the date of
this Agreement such that on the first anniversary of this Agreement, the Optionee
shall be vested in one fifth (1/5) of the Shares represented by the Option granted
hereby as reflected below:

	 	 	 
	Date 	 	Number of Shares Vested
	October 9, 2004
	 	500
	October 9, 2005
	 	500
	October 9, 2006
	 	500
	October 9, 2007
	 	500
	October 9, 2008
	 	500

	   	     Continuation of Vesting upon Retirement. In the event of Optionee’s
retirement from the Company, this Option shall continue to vest pursuant to the
above-listed vesting schedule.”
	 
	2.  	Section 5 of the Agreement is revised in its entirety to provide the following:
	 
	   	     “(a)      Term of Option. This Option may not be exercised more than the
(10) years after the date of grant.
	 
	   	     (b)
      Death of Optionee. In the event of Optionee’s death prior to the
exercise in full of this Option, the Optionee’s beneficiary, executor, administrator
or personal representative, shall have the right to exercise the Option within a
period of twelve (12) months after the date of such death to the extent that the
right was exercisable at the date of death, and the unvested portion of the Option
shall expire as of the date of death.”

     The parties hereby acknowledge that as a consequence of the foregoing changes to the
Agreement, that the Option shall no longer be treated as an incentive stock option for tax purposes
and that the Option shall be treated as a non-qualified stock option, for all purposes, for the
remainder of its term.

     IN WITNESS WHEREOF, the parties have executed this Addendum as of the date set forth above.

	 	 	 	 	 
	CENTRUE FINANCIAL CORPORATION	 	KEITH M. ROSELAND
	 
	 	 	 	 
	By:
	 	 	 	 
	

	 	 
	 	 
	 
	 	 	 	 
	Its:exv10w6

 

 Exhibit 10.6

[ACCO WORLD Logo]

ACCO WORLD CORPORATION

300 Tower Parkway

Lincolnshire, IL 60069-3640

Tel 847.541.9500

Fax 847.478.0068

September 5, 2003

Mr. Neal V. Fenwick

301 Ridge Road

Lake Forest, IL 60045

Re: Employment Matters

Dear Neal:

          This letter addresses certain terms of your employment as Executive Vice President, Finance
and Administration with ACCO World Corporation (the “Company”), and amends the Employment Offer
dated September 8, 1999 from ACCO World Corporation and the amendment of the Employment Offer dated
November 8, 2000 (together, the “Employment Offer”). The initial term of the Employment Offer will
expire shortly. In consideration of your decision to remain with the Company in Lincolnshire,
Illinois, this Letter Agreement extends the initial term of the Employment Offer until June 30,
2005, and amends it as provided below.

          The terms of your Employment Offer that are still applicable as of the date of this letter
will continue apply until June 30, 2005, except as modified below. In addition, any reference in
the Employment Offer to the dates of September 8, 2003 or October 18, 2003 will be replaced with
the date June 30, 2005.

Educational Assistance

          ACCO will reimburse the annual tuition cost for your children, Jennifer and Lawrence, at Lake
Forest Country Day School until June, 2004, for Jennifer and June, 2005, for Lawrence, provided you
remain employed by the Company or you are receiving severance pay under the ACCO Executive
Severance Plan. You will need to submit documentation supporting the tuition costs in order to
receive reimbursement. The reimbursement will be “grossed up” (if necessary) to cover any personal
tax liability you may incur.

 

 

Tax and Legal Consultation

          The Company understands that your decision to remain in the US for an additional period raises
certain legal and tax issues that you will need to address. Accordingly, the Company will
reimburse fees you incur during the term of this Letter Agreement for legal and tax services
related to estate planning, up to a maximum of $6,000. The annual tax preparation services
provided under the Employment Offer will continue to be provided as described in the Employment
Offer with respect to U.S. tax returns for years through 2005.

Termination

          The termination provisions of the Employment Offer shall continue to apply until June 30,
2005. However, paragraph 6 of the November 8, 2000 amendment is hereby amended to clarify that the
UK statutory redundancy payments referenced in such paragraph will be
calculated in accordance with ACCO UK Limited’s normal severance practice for UK employees.

Repatriation and Relocation

	 	•  	The provisions in paragraph 4 of the November 8, 2000 amendment will apply only if,
following a change in control, you are terminated, demoted or voluntarily terminate
employment. If your employment is terminated by the Company or you resign during the term
of this Letter Agreement but not following a change of control, the Company will provide
Repatriation and Relocation benefits for you and your family in accordance with the
Company’s standard Relocation Policy.

          Neal, we are looking forward to your remaining in Lincolnshire. Please sign this letter in
the space below to confirm your agreement to and acceptance of these amendments to the Employment
Offer and the extension of its term until June 30, 2005.

Very truly yours,

	 	 	 
	  /s/ Sam H. Wheeler

	 	 
	 	 	 
	Sam H. Wheeler

Vice President – Human Resources
	 	 
	 
	 	 
	AGREED TO AND ACCEPTED:
	 	 
	 
	 	 
	  /s/ Neal V. Fenwick
	 	 
	 	 	 
	Neal V. Fenwick
	 	 
	 
	 	 
	Date: 7th September 2003exv10w7

 

EXHIBIT 10.7

	 	 	 
	[ACCO WORLD Logo]

	 	ACCO WORLD CORPORATION
	

	 	300 Tower Parkway
	

	 	Lincolnshire, IL 60069-3640
	

	 	Tel 847.541.9500
	

	 	Fax 847.478.0068

November 8, 2000 (As Revised January 2001)

Mr. Neal V. Fenwick

301 Ridge Road

Lake Forest, IL 60045

Re: Employment Matters

Dear Neal:

          This letter addresses certain terms of your employment with ACCO World Corporation and any
successor corporation (the “Company”), and amends the Employment Offer dated September 8, 1999 from
ACCO World Corporation.

	1.  	Your employment with the Company will continue at least through the date you receive
permanent resident status from the United States Immigration and Naturalization Service.
Alternatively, you may, in the sole discretion of the Company, be informed that your services
are no longer required, prior to your receipt of permanent resident status. In such event you
will continue to be an ACCO employee as required under INS regulations, and you will receive
full benefits under the Employment Offer until the date you receive permanent resident status.
It is currently expected that you will receive permanent resident status within twelve (12)
months of today’s date. Accordingly, the provisions of this paragraph will only apply through
the earlier of the date you receive permanent resident status or May 1, 2002. You and ACCO
each agree to take all actions reasonably necessary to maintain and pursue your application
for permanent resident status.

	2.  	In the event your employment with the Company is involuntarily terminated by the Company, or
you are Demoted following a Change of Control, or you are voluntarily separated from
employment due to your job location being relocated more than 35 miles from your former job
location as a result of corporate restructuring (“Voluntary Separation ) following a Change of
Control, during the initial four-year term of the Employment Offer, your base salary for
calculating severance and other exit benefits will be your gross annual base salary as of the

 

 

	   	date of termination, rather than the reduced amount you are actually paid after deduction of
UK pension contributions.
	 
	3.  	In the event your employment with the Company is involuntarily terminated by the Company, or
you are Demoted following a Change of Control, or there is a Voluntary Separation following a
Change of Control, during the initial four-year term of the Employment Offer, the Educational
Assistance provisions of the Employment Offer will be continued at the Company’s expense
during the period you receive severance under the ACCO Executive Severance Plan.
	 
	4.  	In the event your employment with the Company is involuntarily terminated by the Company, or
you are Demoted following a Change of Control, or there is a Voluntary
Separation following a Change of Control, during the initial four-year term of the
Employment Offer, you will be provided, in lieu of Repatriation and Relocation benefits
described in the Employment Offer, with a lump sum of $500,000.00. This payment shall be
made to you only if the situation described in the first sentence of this paragraph occurs
prior to September 8, 2003. Acceptance of such payment would confirm your agreement that
the Relocation Provisions (including Mobility Premium, Relocation Allowance, Spousal
Assistance, Vehicle Disposal, Electrical Allowance, and bridge loan) and Repatriation
provision of the Employment Offer have been fully performed by the Company.
	 
	5.  	In the event your employment with the Company is involuntarily terminated by the Company, or
you are Demoted following a Change of Control, or there is a Voluntary Separation following a
Change of Control, during the initial four-year term of the Employment Offer, your severance
payments under the ACCO Executive Severance Plan shall be considered as pensionable earnings,
and the period of severance considered credited service, for purposes of the ACCO Europe
Pension and Life Assurance Scheme.
	 
	6.  	In the event your employment with the Company is involuntarily terminated by the Company, or
you are Demoted following a Change of Control, or there is a Voluntary Separation following a
Change of Control during the initial four-year term of the Employment Offer, you will be
considered an employee of ACCO World Corporation for severance plan purposes, i.e., you will
be eligible for eighteen (18) months base salary and one (1) year of bonus as provided under
the terms of the ACCO Executive Severance Plan. Such eligibility shall be in lieu of any
other payments or benefits, other than UK statutory redundancy payments, for which you may be
eligible under the Change of Control provisions of the Employment Offer or any other
employment contract with ACCO Europe or ACCO UK, or the ACCO Europe or any other severance
plan or policy in the

 

 

	   	ACCO group of companies; provided that in addition to severance
eligibility as described above, the Company will also honor the provisions of the Employment
Offer describing “Notice Period”, except that upon receipt of severance under the ACCO
Executive Severance Plan the Notice Period will be reduced to six (6) months.
	 
	   	In addition, you will receive on the same terms as has been agreed for other ACCO executives
(which terms will be documented separately), pro rata payments under the Company’s
Management Incentive Plan and Long Term Incentive Plan to the date of termination,
notwithstanding any provisions in such Plans that require employment through the full Plan
period(s) to receive payments.

          Except as amended by this Letter Agreement, the terms of the September 8, 1999 Employment
Offer remain in full force and effect. For purposes of this Letter Agreement, the terms “Demotion”
and “Change of Control” shall have the meanings assigned in the ACCO Executive Severance Plan.

          Please sign this letter in the space below to confirm your agreement to and the acceptance of
these amendments to the Employment Offer.

	 	 	 
	Very truly yours,

	 	 
	 
	 	 
	  /s/ Sam H. Wheeler
	 	 
	 	 	 
	Sam H. Wheeler

Vice President – Human Resources
	 	 
	 
	 	 
	AGREED TO AND ACCEPTED
	 	 
	 
	 	 
	   /s/ Neal V. Fenwick
	 	 
	 	 	 
	Neal V. Fenwick
	 	 

Date: November 8, 2000

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