Document:

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                                                                   EXHIBIT 10.15
                                  WEST GEORGIA
                                  NATIONAL BANK

                                 August 31, 2000

W. Galen Hobbs, Jr.
226 Shady Valley Drive
Carrollton, GA 30116

         RE:      WEST GEORGIA NATIONAL BANK ("WGNB") EMPLOYMENT OF W. GALEN
                  HOBBS, JR. ("EMPLOYEE")

Dear Mr. Hobbs:

         The purpose of this letter is to set forth the new terms upon which
WGNB agrees to employ you and under which you agree to be employed at WGNB.

         SERVICES. The services you will now perform for WGNB are as follows:
Senior Vice President as described in the attached Job Description (Exhibit
"A"). Of course, your responsibilities may change from time to time based on
determinations made by the board of directors or more senior officers. At this
time, you will report to Richard A. Duncan, the President.

         TERM. This Agreement is for a term of two (2) years and may be extended
for one additional year if neither party gives notice of termination more than
ninety (90) days before the expiration of the initial term.

         COMPENSATION AND BENEFITS. You will be compensated in exchange for your
services and the other agreements made in this letter. From the time you agree
to the terms of this letter until such time that this letter is amended or such
time that your employment is terminated, WGNB will pay you for your services at
a rate of $88,400.00 annually. Your compensation will be reviewed during your
annual performance review, and may be increased based on a number of factors
within the discretion of WGNB, including your performance and WGNB's
performance. You will be reimbursed for all reasonable expenses incurred in the
course of business. Because WGNB will have the sole right to determine what is
reasonable, we recommend that before incurring expenses, you consult with Mr.
Duncan or whomever you report to at the time the expense may be incurred. You
are also eligible to receive the benefits WGNB offers to employees of your
level. In addition, so long as you are employed by WGNB, we will reimburse your
dues for a membership at Sunset Hills Country Club and provide you with a
company vehicle. You are also eligible to receive compensation as set forth in
the Executive Compensation Plan and the Bonus and Stock Option Plan. You may
also be permitted to participate in other plans at the discretion of the Board
of Directors or a committee thereof.
<PAGE>   2

         PROPRIETARY AND TRADE SECRET INFORMATION. You also acknowledge and
agree that during the term of this Agreement, you will have access to trade
secrets and other confidential information peculiar to WGNB's business, the
disclosure or use of which would injure WGNB's business. Therefore, you agree
that you will not at any time during or for two (2) years after the term of this
Agreement, use, reveal, or divulge any trade secrets. In addition, you agree
that during the term of this Agreement and for a period of three (3) years
thereafter, you will not use, reveal, or divulge any confidential information.
However, you shall not be required to keep confidential any trade secrets or
confidential information that is or becomes publicly available, is independently
developed by you outside of the scope of this Agreement, or is rightfully
obtained from third parties.

         COMPETITION. You acknowledge that as Senior Vice President, you shall
be engaged in certain activities for WGNB as described in the attached Job
Description (Exhibit "A"). You also acknowledge that you are performing these
activities for WGNB in Carroll County, Georgia (the "Territory"). You agree that
during your employment with WGNB, and for a period of twenty-four (24) months
thereafter, you shall not in any manner, directly or indirectly, render services
in the capacity of an officer, supervisor or manager (including supervisory or
managerial services performed as an advisor, consultant or independent
contractor), or render services substantially similar to services rendered by
you to WGNB in the specific area of WGNB's business in which you are involved in
the Territory.

         SOLICITATION OF CUSTOMERS. You also agree that during the term of your
employment, and for a period of twenty-four (24) months thereafter, you will
not, within the Territory, directly or indirectly, on your own behalf or on
behalf of or in conjunction with any person or legal entity other than WGNB,
actively solicit the business or patronage of any of the clients, customers or
accounts of WGNB served by you during the term of this Agreement.

         FORM OF RELIEF FOR CERTAIN BREACHES. In the event of your actual or
threatened breach of the preceding two paragraphs, WGNB, in addition to all
other rights, shall be entitled to an injunction restraining Employee therefrom.
Nothing herein shall be construed as prohibiting WGNB from pursuing any other
available remedy for such breach or threatened breach, including the recovery of
damages from Employee. This provision shall remain in full force and effect in
the event Employee should claim that WGNB violated any of the terms of this
Agreement.

         IMPACT OF TERMINATION CAUSES UPON COMPETITION AND SOLICITATION. Your
employment may terminate in one of two fashions: either you terminate your
employment, or WGNB terminates your employment.

         If you terminate your employment with WGNB for any reason, the
provisions of the sections regarding Competition and Solicitation of Customers
shall have full force and effect.

         WGNB may terminate your employment in one of two fashions: either with
cause, or without cause. A termination "with cause" under this section of this
letter agreement (as opposed

                                       2
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to the next section which has a broader definition) occurs when two conditions
are satisfied. First, there must be a "change in control." (A "Change of
control" means any transaction or series of related transactions, which result
in (1) transfer of more than 50% of the common stock of WGNB Corp., excluding
mergers or consolidations; (2) sale of all or substantially all of WGNB Corp.'s
assets, or (3) any merger or consolidation with another company where the
surviving entity is directly controlled by persons other than shareholders of
WGNB Corp.) Second, after a change in control and at any time before your last
date of employment with WGNB, you decline to serve WGNB in another position or
function at any location within the company without a reduction in salary.

         If WGNB terminates you without cause, then the provisions of the
sections regarding Competition and Solicitation of Customers shall have no force
and effect. If WGNB terminates you with cause as defined in this Section, those
provisions shall have full force and effect. Any termination that is not with
cause is without cause.

         IMPACT OF TERMINATION CAUSE UPON SEVERANCE COMPENSATION. This Section
applies only to termination of your employment by WGNB, as opposed to your own
termination of your employment. WGNB may terminate your employment in one of two
fashions: either with cause, or without cause. For the purposes of this Section,
termination with cause includes the definition in the preceding Section, and
also includes any other instance in which a similarly situated employer would
terminate employment, including but not limited to theft, dishonesty,
nonperformance and violation of policy. If you are terminated without cause you
shall receive upon such termination a lump-sum payment equal to twenty-four (24)
month's salary plus accrued vacation. If you are terminated with cause you will
receive no such lump sum.

         MISCELLANEOUS. This letter constitutes the entire agreement between the
parties and supersedes any prior understanding or agreement among them
respecting the subject matter hereof. There are no representations,
arrangements, understandings or agreements, oral or written, among the parties
hereto relating to the subject matter of this Agreement, except those fully
expressed herein. No waiver of any provision hereof will be valid or binding on
the parties hereto, and no waiver on one occasion shall be deemed to be a waiver
of the same or any other provision hereof in the future. Should any part of this
Agreement, for any reason, be declared invalid by an arbitrator or a court of
competent jurisdiction, such decision or determination shall not affect the
validity of any remaining portion, and such remaining portion shall remain in
force and effect as if this Agreement had been executed with the invalid portion
eliminated; provided, that in the event of declaration of invalidity, the
provision declared invalid shall not be invalidated in its entirety, but shall
be observed and performed by the parties to the extent such provision is valid
and enforceable. This Agreement may only be amended in writing, signed by all of
the parties. This Agreement may be assigned by WGNB to any parent, subsidiary or
successor-in-interest without consent of Employee. This Agreement shall be
governed by the laws of the State of Georgia, and all disputes arising out of or
relating to this Agreement shall be litigated in Federal Court in the State of
Georgia or State Court in Carroll County, State of Georgia. The parties to this
Agreement consent to jurisdiction and venue in those courts.

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<PAGE>   4

         If you agree with the terms of this letter, please signify by signing
below.

                                             Sincerely,

                                             West Georgia National Bank

                                             By:     /s/ L. Leighton Alston
                                                  -----------------------------
                                                  L. LEIGHTON ALSTON
                                             Its: CHIEF EXECUTIVE OFFICER
                                                  -----------------------------

         Agreed to and accepted, this 31st day of August, 2000

                                             /s/ W. Galen Hobbs, Jr.
                                             ----------------------------------
                                             W. Galen Hobbs, Jr.

                                       4
<PAGE>   5

                                                                     EXHIBIT "A"

                           WEST GEORGIA NATIONAL BANK
                                 JOB DESCRIPTION
                                    MAY, 2000

            JOB TITLE: SENIOR VICE PRESIDENT/COMMERCIAL LOAN OFFICER
--------------------------------------------------------------------------------
JOB CODE:         133

DEPARTMENT:       LOANS

REPORTS TO: PRESIDENT

APPROVED BY:                                                   DATE:
--------------------------------------------------------------------------------
SUMMARY:
Is responsible for the organization, planning and directing of the bank's
commercial loan portfolio and the management of the commercial loan function.
Directs the activities of commercial loan officers originating, servicing and
collecting commercial loans ensuring that applicable bank lending policies and
practices are followed. Accountable for the development, application, and
ongoing review of the bank's commercial lending policies. Provides input into
the budget process. Provides service to customers and prospective customers
seeking primarily commercial loans. This is the most seasoned commercial lender
dealing with relatively large loans or those involving more risk. Makes and
services all types of secured and unsecured loans or lines of credit, using the
most significant lending authority. Under general supervision, but in accordance
with established policies and procedures, originates primarily commercial loans
by interviewing applicants, ordering credit reports, analyzing data, approving
or denying credit requests, notifying applicants of loan decision, notifying
customers of loan status, and processing approved loans. Responds to questions
concerning all aspects of commercial loans from various sources, such as
customers, branch managers, assistant branch managers and others. Sets up files,
inputs loan data, and prepares reports. May assist with servicing commercial
loans. Holds responsibility for the prudent management of the commercial loan
portfolio to maximize profits and growth. Serves as financial counselor for
businesses in the community.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be
assigned. Has responsibility for:

Developing the short- and long-term goals and objectives of the commercial loan
department.

Establishing commercial lending policies and operating procedures that are
consistent with overall bank policies and operations objectives.

Establishes interest rate guidelines, fees, and other charges that harmonize
with overall bank policies and are competitive and profitable for the bank.

Processing and approving Commercial Loans up to $100,000, or an amount specified
by the board.

Supervises, directs and controls the activities of loan officers who develop
commercial, agricultural, real estate and construction loans for bank customers.

Reviews commercial loans developed by subordinate commercial loan officers for
compliance with lending objectives, policies and procedures. Keeps officers and
staff informed of changes in policies and procedures and ensures they are well
trained in the commercial lending functions.
<PAGE>   6

Develops and manages large and/or major commercial loan accounts. Interviews
applicants, gathers and evaluates financial and related data to establish
credit-worthiness, establishes and renegotiates credit terms where necessary and
continually monitors customers' financial condition and repayment progress.

Attends to the needs of customers seeking loans or lines of credit on terms that
involve significant amounts of unsecured funds and/or credit secured by
mortgages or other collateral.

Interviews applicants to develop information concerning their businesses, needs,
desires, abilities, and earnings to determine whether a loan may be an
acceptable risk.

Follows current loan and credit lines to ensure complete conformity with terms
and cognizance of developing trends.

Monitors loan repayment activities and takes necessary action to collect from
past due accounts.

Makes presentation to Officers Loan Committee and Executive Loan Committee for
loan approval outside of lending authority.

Making recommendations to customers and prospective customers regarding
financial concepts and practices.

Studying industrial, commercial, and financial situations relating to new or
existing businesses.

Calling on potential or existing customers to develop new business and increase
or retain existing business. Cross sells bank services in a professional manner.

Keeps abreast of local and national economic, financial, political and
legislative events and climates which could have an impact on commercial lending
activities, by reviewing journal articles, publications and other material, and
ensures departmental policies and procedures comply with all applicable laws and
regulations.

Performs personnel management and administration activities within the
commercial loan area, including job assignment, loan officer and clerical
counseling and training, performance appraisal and compensation review.

Maintains professional and community relations to increase the bank's visibility
and new business opportunities and to further personal development.

Provides detailed information for preparing the department budget including
projected volume, rate of return and expenditures.

CRA REQUIREMENT:
All personnel are expected to understand the bank's obligations under the
Community Reinvestment Act and how to fulfill them. All employees shall
cooperate with and support the bank's CRA program. Staff will be held
accountable for any lack of cooperation that weakens the bank's CRA performance,
as reflected in internal audits, agency examinations and/or community protests.

PRODUCT KNOWLEDGE REQUIREMENTS:
It is the responsibility of all personnel to know and understand the bank's
products and services that are provided and give information to customers when
requested to do so.

SUPERVISORY RESPONSIBILITIES:
Manages other commercial loan officers. Is responsible for the overall
direction, coordination, and evaluation of the commercial loan area. Also may
supervise other non-supervisory employees.

Carries out supervisory responsibilities in accordance with the organization's
policies and applicable laws. Responsibilities include interviewing, hiring, and
training employees; planning, assigning, and directing work;
<PAGE>   7

appraising performance; rewarding and disciplining employees; addressing
complaints and resolving problems.

QUALIFICATION REQUIREMENTS:
To perform this job successfully, an individual must be able to perform each
essential duty satisfactorily. The requirements listed below are representative
of the knowledge, skill, and/or ability required. Reasonable accommodations may
be made to enable individuals with disabilities to perform the essential
functions.

         EDUCATION AND/OR EXPERIENCE:
         A technical level of knowledge normally acquired through completion of
         a master's level program in business administration, finance or related
         area. Seven to ten years of progressively increasing responsible
         commercial lending experience

         LANGUAGE SKILLS:
         Ability to read, analyze, and interpret general business periodicals,
         professional journals, technical procedures, or governmental
         regulations. Ability to write reports, business correspondence, and
         procedure manuals. Ability to effectively present information and
         respond to questions from groups of managers, clients, customers, and
         the general public.

         MATHEMATICAL SKILLS:
         Good analytical skills with problem solving abilities. Ability to work
         with mathematical concepts such as probability and statistical
         inference, and fundamentals of cash flow and financial analysis.
         Ability to apply concepts such as fractions, percentages, ratios, and
         proportions to practical situations. The analytical ability to conduct
         an analysis of an applicant's credit status and recommend alternatives
         where the analysis reveals an insufficient financial posture.

         REASONING ABILITY:
         Ability to define problems, collect data, establish facts, and draw
         valid conclusions. Ability to interpret an extensive variety of
         technical instructions in mathematical or diagram form and deal with
         several abstract and concrete variables.

CERTIFICATES, LICENSES, REGISTRATIONS:
Preferred Graduate of LSU Graduate School of Banking of the South or Georgia
Banking School. Various BAI or AIB bank related courses are helpful.

OTHER SKILLS AND ABILITIES:
Strong, well-developed interpersonal skills in order to maximize business
contacts and develop a working relationship with potential and current
commercial loan customers.

PHYSICAL DEMANDS:
The physical demands described here are representative of those that must be met
by an employee to successfully perform the essential functions of this job.
Reasonable accommodations may be made to enable individuals with disabilities to
perform the essential functions.

While performing the duties of this job, the employee is frequently required to
talk or hear. The employee is occasionally required to stand; walk; sit; and use
hands to handle, or feel objects, tools, or controls.

Specific vision abilities required by this job include close vision, distance
vision, peripheral vision, and the ability to adjust focus.

WORK ENVIRONMENT:
The work environment characteristics described here are representative of those
an employee encounters while performing the essential functions of this job.
Reasonable accommodations may be made to enable individuals with disabilities to
perform the essential functions.
<PAGE>   8

While performing the duties of this job, the employee occasionally works in
outside weather conditions while making collateral inspections.

The noise level in the work environment is usually quiet.

Exposed to potentially hazardous conditions, i.e., robbery. Receives detailed
instructions concerning procedures to be followed for minimal exposure.<PAGE>   1
                                                                   Exhibit 10.32

                           NATIONAL PROCESSING COMPANY
                      LONG-TERM INCENTIVE COMPENSATION PLAN
                               FOR SENIOR OFFICERS

                AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2000

                  ARTICLE 1. ESTABLISHMENT AND PURPOSE OF PLAN
         1.1 ESTABLISHMENT OF THE PLAN. The following are the provisions of the
National Processing Company Long-Term Incentive Compensation Plan for Senior
Officers (herein referred to as the "Plan"), effective as of January 1, 2000,
which is an amendment and restatement of the National City Processing Company
Long-Term Incentive Plan for Senior Officers effective effective January 1, 1998
("Predecessor Plan").

         1.2 EFFECTIVENESS. The Plan shall be effective for all purposes with
respect to Plan Cycles commencing on or after January 1, 2000.

         1.3 PURPOSE. The purpose of the Plan is to maximize the returns to
stockholders and to promote the long-term profitability and success of the
Corporation by providing an incentive to those key executives of the Corporation
who are primarily responsible for such profitability and success.

         1.4 OPERATION OF THE PLAN. The Plan shall be administered by the
Committee. A Plan Cycle of three years will be established each year that the
Plan is in operation.

<PAGE>   2

                             ARTICLE 2. DEFINITIONS

         2.1 DEFINITIONS. Whenever used herein, the following terms shall have
the meanings set forth below, unless otherwise expressly provided. When the
defined meaning is intended, the term is capitalized.

         (a)      "Active Participant" shall mean an Eligible Employee who is
                  approved by the Committee for participation in a Plan Cycle of
                  the Plan. Such approval shall be determined with respect to
                  each Plan Cycle prior to March 31 of the first year of that
                  Plan Cycle, and shall be redetermined with respect to each new
                  Plan Cycle.

         (b)      "Average Stock Price" shall be determined with respect to each
                  Plan Cycle for the month of December prior to such Plan Cycle
                  (the Average Stock Price at the beginning of the Plan Cycle)
                  and for the last full calendar month of the Plan Cycle (the
                  Average Stock Price at the end of the Plan Cycle) and shall
                  mean the arithmetic mean (the average) of the closing prices
                  of a share of common stock of a company as reported on any
                  national securities exchange (or by any national quotation
                  system accepted by the Committee for this purpose) for each of
                  the trading days (on which such shares were traded) in such
                  calendar month. If the shares of common stock are not then so
                  traded or regularly reported, the stock price shall be
                  determined by such means as the Committee shall determine.
                  Notwithstanding the foregoing, the Committee may determine
                  prior to the start of a Plan Cycle that a different set of
                  time periods are appropriate for measuring performance under
                  the Plan, and such different time periods may be used to
                  determine Average Stock Prices at the beginning and the end of
                  such Plan Cycle.

         (c)      "Base Salary" shall mean the average annual salary of an
                  employee during that portion, or all of the Plan Cycle for
                  which he or she is an Active Participant, exclusive of any
                  bonuses, incentive pay, special awards, or stock options.

         (d)      "Board" shall mean the Board of Directors of the Corporation.

         (e)      "Change in Control" see Section 11.3.

                                      -2-
<PAGE>   3

         (f)      "Corporation" shall mean National Processing Company.

         (g) "Committee" shall be composed of the Chief Executive Officer of the
Corporation, the individual at National City Corporation who has primary
responsibility of monitoring the activities of the Corporation and the officer
in charge of Corporate Human Resources at National City Corporation.

         (h)      "Disability" shall mean the inability, by reason of a
                  medically determinable physical or mental impairment, to
                  engage in substantial and gainful activity for a continuous
                  period of 26 weeks or more as determined by the Committee.

         (i) "Early Retirement" shall mean retirement at or after age 55 with at
least ten years of service with the Employer and/or National City Corporation
prior to Normal Retirement.

         (j)      "Earnings Award" shall mean the payment earned by a
                  Participant based on earnings growth as set forth in Section
                  4.2.

         (k)      "Effective Date" see Section 11.4.

         (l)      "Eligible Employee" shall mean an Employee who is employed in
                  a position meeting the defined eligibility criteria for
                  participation in the Plan, as set forth in Article 3.

         (m)      "Employee" shall mean an individual employed by an Employer on
                  a regular active and full-time salaried basis.

         (n)      "Employer" shall mean the Corporation or any corporation,
                  organization or entity controlled by the Corporation.

         (o)      "Implementation Date" see Section 11.4.

         (p)      "Inactive Participant" shall mean an individual who was an
                  Active Participant in the Plan for a Plan Cycle, who is not
                  currently an Active Participant for a Plan Cycle but who
                  continues to have an interest under the Plan.

         (q) "Normal Retirement" shall mean leaving the employ of the Employer
and National City Corporation at or after the age 62 with at least twenty years
of continuous service

                                      -3-
<PAGE>   4

with the Employer and/or National City Corporation or at or after the age 65
with at least five years of continuous service with the Employer and/or National
City Corporation.

         (r)      "Participant" shall mean and include all Active Participants
                  and all Inactive Participants.

         (s) "Peer Group" shall mean a group of comparable corporations used to
measure relative performance. Such Peer Group shall be established by the
Committee for each Plan Cycle prior to the commencement of the Plan Cycle, and
shall not thereafter be changed with respect to such Plan Cycle, provided,
however, that one or more members of a Peer Group shall be dropped therefrom in
the event of the acquisition of the Peer Group Member, the acquisition of
sixty-five percent or more of the gross assets of the Peer Group Member or the
merger of the Peer Group Member with another company(ies) where the Peer Group
Member is not the surviving corporation.

         (t)      "Peer Group Award" shall mean the payment earned by a
                  Participant based on comparison of the Total Shareholder
                  Return with the Peer Group as set forth in Section 4.1.

         (u)      "Plan" shall mean this National Processing Company Long-Term
                  Incentive Compensation Plan for Senior Officers Effective
                  January 1, 1998.

         (v)      "Plan Cycle" shall mean a period of three consecutive fiscal
                  years of the Corporation and shall be referred to by the
                  fiscal year in which a particular Plan Cycle commences.

         (w)      "Predecessor Plan" see Section 1.1.

         (x)      "Subsidiary" see paragraph 11.3(e)

         (y)      "Total Award" shall mean the payment earned by a Participant
                  based on the Peer Group Award and the Earnings Award.

         (z)      "Total Stockholder Return" with respect to a stock shall be
                  calculated in the following manner:

                                      -4-
<PAGE>   5

                  (i)      Add the Average Stock Price at the end of the Plan
                           Cycle for such stock to the dividends paid on the
                           stock during the Plan Cycle (if any), and then
                           subtract the Average Stock Price at the beginning of
                           the Plan Cycle for such stock.

                  (ii)     Divide the resulting sum of (i) above by the Average
                           Stock Price at the beginning of the Plan Cycle for
                           such stock.

                 (iii)     The result equals Total Stockholder Return with
                           respect to such stock for the Plan Cycle.

          (aa)   "Vesting Event" shall mean the earliest to occur of the
                 following events:

                  (1)      for each Award, the end of the respective Plan Cycle,

                  (2)      the Effective Date of a Change in Control,

                  (3)      the date a Participant is eligible to retire on a
                           Normal Retirement,

                  (4)      the date a Participant incurs a Disability,

                  (5)      the date of a Participant's death.

         Each Participant and Beneficiary with respect to whom a Vesting Event
         has occurred shall be 100% vested in his or her benefits or Awards
         earned or accrued hereunder as of the date of such Vesting Event,
         subject to the forfeiture provisions of Article 10.

         (bb)     "Voting Stock" see paragraph 11.3(e).

         2.2 GENDER AND NUMBER. Except when otherwise indicated by the context,
any masculine terminology used herein also shall include the feminine, and the
definition of any term in the singular shall include the plural.

                    ARTICLE 3. ELIGIBILITY AND PARTICIPATION

         3.1 ELIGIBILITY. Eligibility for participation in the Plan will be
limited to those senior officers of the Corporation and its subsidiaries who, by
the nature and scope of their positions, are materially responsible for the
management, growth, and overall success of the Corporation, as determined by the
Committee.

                                      -5-
<PAGE>   6

         3.2 PARTICIPATION. Participation in the Plan shall be determined by the
Committee with respect to each Plan Cycle prior to the commencement of the Plan
Cycle. The Committee may base its approval upon the recommendation of the
President of the Corporation. The Committee shall classify senior officers for
the purposes of the Plan into the following categories:

             CATEGORY      PERSONS INCLUDED

             Category I    President of the Corporation
             Category II   Executive  officers of the  Corporation and Executive
                           officers  of major  subsidiaries  of the  Corporation
                           and similar officers

         Each Eligible Employee approved for participation shall be notified of
the selection as soon after approval as is practicable and shall become a
Participant upon acceptance by him or her of such selection; provided however,
that after December 31, 1994, no Eligible Employee shall become a Participant in
the Plan with respect to any Plan Cycle after the commencement of such Plan
Cycle.

         3.3 PARTICIPANT FOR PART OF A PLAN CYCLE. In the event an Employee is
an Eligible Employee for only a portion of a Plan Cycle (Participation Portion)
such Eligible Employee may, in the Committee's discretion, be a Participant for
such portion of the Plan Cycle but his or her Award will be based upon his or
her Base Salary at the end of such Participation Portion and such Award will
normally be pro-rated to reflect the number of months in the Participation
Portion of the Plan Cycle compared to the number of months in the total Plan
Cycle.

         3.4 CATEGORY CHANGES DURING A PLAN CYCLE. In the event a Participant is
promoted or demoted from one Category to another during a Plan Cycle, the
Committee may, in its discretion, (a) continue such Participant in the Category
he or she was in prior to such promotion or demotion, (b) provide for
participation from and after the promotion or demotion to the new Category, or
(c) provide for a combination of (a) and (b).

                                      -6-
<PAGE>   7

         In the event of a Plan Cycle for which the Participant's participation
is thus split between two Categories, the Award for such Plan Cycle will
normally be pro-rated to reflect the portions of the Plan Cycle spent in each
Category and each part of the Award will be based upon the Participant's Base
Salary at the end of the appropriate portions of the Plan Cycle.

         3.5 NO RIGHT TO PARTICIPATE. No Participant or Employee shall have a
right at any time to be selected for current or future participation in the
Plan.

                         ARTICLE 4. AWARD DETERMINATION

         4.1 PEER GROUP AWARD FOR EACH PLAN CYCLE. Prior to the beginning of the
Plan Cycle the Committee shall establish the threshold award, target award and
maximum award performance levels for the Plan Cycle, against which the Total
Stockholder Return of the Corporation for the Plan Cycle shall be compared to
average (arithmetical mean) of the Total Stockholder Returns of the members of
the Peer Group. The Committee shall also determine the membership of the Peer
Group for the Plan Cycle at such time.

         4.2 EARNINGS GROWTH. The threshold Earnings Award shall be awarded if,
in the sole discretion of the Committee the Corporation has achieved a compund
growth rate in earnings per share of 10%, target Earnings Award shall be awarded
if, in the sole discretion of the Committee the Corporation has achieved a
compound growth rate in earnings per share of 12%. The maximum Earnings Award
shall be awarded if, in the sole discretion of the Committee, the Corporation
has achieved a compound growth rate in earnings per share of 15%. If the
compound growth rate in earnings per share of the Corporation is greater than
10% but less than 15%. The Committee shall pro-rate the award. In determining
the compound growth rate in earnings per share of the Corporation the Committee
may make adjustments as it deems appropriate for acquisitions, divestitures and
other one-time events.

         4.3 Total AWARD. The amount of Total Award that shall be awarded to a
Participant under this Plan shall be expressed as a percentage of Base Salary.
Such percentage shall be determined on the basis of the attainment, or lack of
attainment, by the Corporation of the

                                      -7-
<PAGE>   8

threshold, target or maximum performance for the Peer Group Award and target or
maximum performance for the Earnings Award, as follows:

                                PEER GROUP AWARD

                          PERCENT OF BASE COMPENSATION

                  CATEGORY    THRESHOLD       TARGET       MAXIMUM
                  --------    ---------      --------      -------
                      I          6%            12%           24%
                      II         4%             8%           16%

                                 EARNINGS AWARD

                          PERCENT OF BASE COMPENSATION

                  CATEGORY    THRESHOLD       TARGET       MAXIMUM
                  --------    ---------      --------      -------
                     I           9%            18%           36%
                     II          6%            12%           24%

                          ARTICLE 5. PAYMENT OF AWARDS

         5.1 FORM AND TIMING OF PAYMENT OF AWARDS. Within 90 days after the end
of the Plan Cycle, the Participant's shall be entitled to receive a cash payment
equal to the entire amount of the Participant's Award. Except as otherwise
provided for in Section 6.1, to receive an Award a Participant must be an
Employee on the date on which the Plan Cycle ends. The Committee may terminate a
Participant's Award prior to any Vesting Event.

                      ARTICLE 6. TERMINATION OF EMPLOYMENT

         6.1 TERMINATION OF EMPLOYMENT DUE TO DEATH, DISABILITY OR NORMAL
RETIREMENT. In the event a Participant's employment is terminated during a Plan
Cycle at or after the occurrence of a Vesting Event other than a Change in
Control the Participant shall be eligible to receive a

                                      -8-
<PAGE>   9

pro-rated Award reflecting his or her partial participation. This pro-ration
shall be determined by multiplying the Award by a fraction the numerator of
which is the number of full months of participation to the date participation
ends, and the denominator of which is 36. The Award thus determined shall be
payable as soon as practicable following the end of the Plan Cycle.

         6.2 OTHER TERMINATIONS OF EMPLOYMENT. In the event a Participant's
employment is terminated during a Plan Cycle prior to a Vesting Event, the
Participant's participation in such Plan Cycle shall end and the Participant
shall not be entitled to any Award for such Plan Cycle.

                        ARTICLE 7. RIGHTS OF PARTICIPANTS

         7.1 EMPLOYMENT. Nothing in this Plan shall interfere with or limit in
any way the right of the Corporation to terminate a Participant's employment at
any time, nor confer upon any Participant any right to continue in the employ of
the Corporation.

         7.2 RESTRICTIONS ON ASSIGNMENTS. The interest of a Participant or his
or her beneficiary under this Plan may not be sold, transferred, assigned, or
encumbered in any manner, either voluntarily or involuntarily, and any attempt
to so anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge
the same shall be null and void; neither shall the benefits hereunder be liable
for or subject to the debts, contracts, liabilities, engagements, or torts of
any person to whom such benefits or funds are payable, nor shall they be subject
to garnishment, attachment, or other legal or equitable process, nor shall they
be an asset in bankruptcy.

                            ARTICLE 8. ADMINISTRATION

         ADMINISTRATION. The Plan shall be administered by the Committee in
accordance with any administrative guidelines and any rules that may be
established from time to time by the Committee. The procedures, standards and
provisions of this Plan for determining eligibility for and amounts of Awards in
themselves confer no rights, duties or privileges upon Participants nor place
obligations upon either the Committee or the Corporation. Accordingly, the
Committee may, in making such determinations hereunder, deviate from such
procedures and standards in whatever manner that it, in its judgment, deems
appropriate.

                                      -9-
<PAGE>   10

         The Committee shall have full power and authority to interpret,
construe and administer the Plan and its interpretations and construction
hereof, and actions hereunder, including the timing, form, amount or recipient
of any payment to be made hereunder, and its decisions shall be binding and
conclusive on all persons for all purposes.

         The Committee may name assistants who may be, but need not be, members
of the Committee. Such assistants shall serve at the pleasure of the Committee,
and shall perform such functions as are provided for herein and such other
functions as may be assigned by the Committee.

         No member of the Board, Committee or any assistant shall be liable to
any person for any action taken or omitted in connection with the interpretation
and administration of this Plan unless attributable to his or her own willful
misconduct or lack of good faith.

                         ARTICLE 9. REQUIREMENTS OF LAW

         9.1 LAWS GOVERNING. This Plan shall be construed in accordance with and
governed by the laws of the State of Ohio.

         9.2 WITHHOLDING TAXES. The Corporation shall have the right to deduct
from all payments under this Plan any federal, local or state taxes required by
the law to be withheld with respect to such payments.

         9.3 PLAN BINDING ON CORPORATION, EMPLOYEES AND THEIR SUCCESSORS. This
Plan shall be binding upon and inure to the benefit of the Corporation, its
successors and assigns and each Participant and his or her beneficiaries, heirs,
executors, administrators and legal representatives.

                             ARTICLE 10. FORFEITURES

         Notwithstanding any provision in this Plan to the contrary excepting
only the provisions of Article 11, in the event the Committee finds

                  (a) that an Employee or former Employee who has an interest
                  under this Plan has been discharged by his or her Employer in
                  the reasonable belief (and such reasonable belief is the
                  reason or one of the reasons for such discharge) that the

                                      -10-
<PAGE>   11

                  Employee or former Employee did engage in fraud against the
                  Employer or anyone else, or

                  (b) that an Employee or former Employee who has an interest
                  under this Plan has been convicted of a crime as a result of
                  which it becomes illegal for his Employer to employ him or
                  her,

then any amounts held under this Plan for the benefit of such Employee or former
Employee or his or her beneficiaries shall be forfeited and no longer payable to
such Employee or former Employee or to any person claiming by or through such
Employee or former Employee.

                          ARTICLE 11. CHANGE IN CONTROL

         11.1 TREATMENT OF AWARDS. In the event of a Change in Control the
Corporation shall pay to each Active Participant on the Implementation Date of
such Change in Control a lump sum cash payment equal to the amount hereinafter
determined. Such payment shall be payable in cash to the Participant within five
business days after the Implementation Date of such Change in Control and shall
be payment in full to each such Participant for such Plan Cycle, each of which
shall be deemed terminated by operation of this Article 11. No further Plan
Cycles shall commence thereafter under this Plan.

         11.2 AMOUNT OF PAYMENT. The amount of the payment to be made as a
consequence of a Change in Control shall, with respect to each Plan Cycle, be
equal to the Maximum Award level (without regard to stockholder return during
such abbreviated Plan Cycle) for the Participant for such Plan Cycle multiplied
by a fraction the numerator of which is the number of full months completed from
the commencement of the Plan Cycle to the Implementation Date of the Change in
Control, and the denominator of which is 36.

         11.3 DEFINITION OF CHANGE IN CONTROL. Change in Control shall mean the
occurrence of any of the following events:

                  (a) The Company is merged, consolidated or reorganized into or
         with another corporation or other legal person other than NCC, a
         successor of NCC (direct or indirect, by purchase, merger,
         consolidation, reorganization or otherwise) ("Successor"),

                                      -11-
<PAGE>   12

         or an affiliate of NCC or of a Successor and as a result of such
         merger, consolidation or reorganization less than fifty percent of the
         combined voting power of the then-outstanding securities of such
         resulting corporation or person immediately after such transaction are
         held by NCC, a Successor or an affiliate of NCC or of a Successor; or

                  (b) The Company sells or otherwise transfers all or
         substantially all of its assets to another corporation or other legal
         person, and as a result of such sale or transfer less than fifty
         percent of the combined voting power of the then-outstanding Voting
         Stock of such corporation or person immediately after such sale or
         transfer is held by NCC, a Successor or an affiliate of NCC or of a
         Successor, provided, however, that a Change in Control of NCC
         determined by the standards set forth herein or otherwise shall not
         constitute a Change in Control of the Company.

         11.4 EFFECTIVE DATE OF CHANGE IN CONTROL. Notwithstanding the
foregoing, in the event a Change in Control ultimately results from discussions
or negotiations involving the Corporation or any of its officers or directors,
the "Effective Date" of such Change in Control shall be the date such
discussions or negotiations commenced; otherwise, such Effective Date or Change
in Control shall be the Implementation Date of such Change in Control.

         11.5 IMPLEMENTATION DATE OF CHANGE IN CONTROL. The "Implementation
Date" shall be the earliest to occur of the events specified in subsections (a)
or (b) of Section 11.3. As used herein, the Implementation Date of Change in
Control shall be the last date of all current Plan Cycles.

         11.6 EFFECT OF CHANGE IN CONTROL, In addition to other vesting under
the Plan, the opportunity of a Participant to participate to the end of all
current Plan Cycles is vested in such Participant in the event of a Change in
Control, as of the Effective Date of and such Change in Control.

                                      -12-
<PAGE>   13

                            ARTICLE 12. MISCELLANEOUS

         In the event of the liquidation of the Corporation the Committee may
make any provisions for holding, handling and distributing the amounts standing
to the credit of the Participants or beneficiaries hereunder which, in the
discretion of the Committee, are appropriate and equitable under all
circumstances and which are consistent with the spirit and purposes of these
provisions.

                    ARTICLE 13. AMENDMENT AND DISCONTINUANCE

         The Corporation expects to continue this Plan indefinitely, but
reserves the right, by action of the Board, to amend it from time to time or to
discontinue it. However, if the Board should amend or discontinue this Plan, the
Corporation shall remain obligated under the Plan with respect to (1) Awards
made final (and thus payable) by decision by the Committee prior to the date of
such amendment or discontinuance, (2) Awards and rights of any Participant or
beneficiary with respect to whom a Vesting Event has occurred.

          Executed as of this 5th day of May, 2000 at Louisville, Kentucky.

                                        NATIONAL PROCESSING COMPANY

                                        By: /s/ Robert G. Siefers
                                            ----------------------------

                                      -13-

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