Document:

EXHIBIT 10.13

                             COVEST BANCSHARES, INC.
                              EMPLOYMENT AGREEMENT

         This AGREEMENT is made effective as of April 27, 1999, by and between
CoVest Bancshares, Inc., a Delaware corporation, (the "Company") and Paul A.
Larsen, ("Executive").

         WHEREAS, the Company desires to employ Paul A. Larsen as the EXECUTIVE
VICE PRESIDENT AND CHIEF FINANCIAL OFFICER of the Company and its subsidiary,
CoVest Banc, National Association (the Bank); and

         WHEREAS, the Executive is willing to commit himself to serving the
Company and the Bank on the terms and conditions herein provided;

         NOW, THEREFORE, in consideration of the mutual covenants herein
contained, and upon the other terms and conditions hereinafter provided, the
parties hereby agree as follows:

         1. POSITION AND RESPONSIBILITIES.

         (a) Executive shall be employed as EXECUTIVE VICE PRESIDENT AND CHIEF
FINANCIAL OFFICER of the Company and of the Bank effective as of the date hereof
for the Period of Employment as defined hereafter. The Executive shall report to
the President and Chief Executive Officer of the Company. The Executive's duties
and responsibilities shall consist of such duties and responsibilities as may
from time to time be assigned to the Executive by the President and Chief
Executive Officer which duties and responsibilities shall be duties customary
for an EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER of the Company or
Bank.

         2. PERIOD OF EMPLOYMENT. The period of the Executive's employment under
this Agreement (the Period of Employment) shall commence upon the Effective Date
hereof and shall continue for a period of twelve (12) full calendar months
thereafter, subject to extension as provided herein or to earlier termination as
provided in Paragraph 4 below. The Period of Employment may be automatically
extended for twelve (12) additional months on each

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anniversary date of the Effective date by the Board of the Company or a duly
authorized committee of the Board on behalf of the Company, provided, however,
that in no event shall the Period of Employment extend beyond the date Executive
attains age 65. Notwithstanding anything in this Agreement to the contrary, if
at any time during the Period of Employment there is a Change of Control (as
defined in Paragraph 4), the Period of Employment shall automatically extend to
a date which is the first to occur of (a) the date which is twelve (12) months
from the date of the Change in Control, and (b) the date Executive attains age
65.

         3. COMPENSATION AND REIMBURSEMENT.

         (a) Salary. During the Period of Employment, the Bank shall pay the
Executive the compensation specified in this Agreement for the services
performed hereunder. The Bank shall pay the Executive as compensation a base
salary (Base Salary) of $125,000 per year. The Base Salary shall be subject to
review by the Board and may be increased (but not decreased), whereupon such
increased amount shall become the Base Salary hereunder.

         (b) Bonuses. The Executive shall be eligible for consideration in 1999
and subsequent years for annual incentive bonuses as recommended by the
President and Chief Executive Officer but solely determined by the Board.

         (c) Options. The Company shall grant to the Executive an option to
purchase 30,000 shares of Company common stock as follows: 15,000 shares under
the Company's 1992 Stock Option and Incentive Plan and 15,000 shares under the
Company's 1996 Stock Option and Incentive Plan. Said option shall provide for an
exercise price per share equal to the fair market value on the Effective Date,
and shall vest at a rate of 5,000 shares from each plan commencing February 15,
2000 and each year thereafter with final options under this agreement issuing on
February 15, 2002. The options shall be evidenced by the Option Agreements
attached hereto as Appendix A-1 and Appendix A-2, respectively.

         (d) Vacation; Expense Reimbursement. During the Period of Employment,
the Executive shall be entitled to a paid vacation, periods of absence
occasioned by illness and reasonable leaves of absence, and to expense
reimbursement in accordance with Company policies.

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         (e) Benefit Plans. The Executive shall be eligible to participate in or
receive benefits under any benefit plans and arrangements of the Company and
Bank in which Executive officers of the Company and the Bank are generally
entitled to participate including, but not limited to, the profit sharing/401(k)
plan, health-and-accident plans, medical coverage, disability or any other
benefit plans or arrangements, subject to and on a basis consistent with the
terms, conditions and overall administration of such plans and arrangements
applicable to Executive officers of the Company and the Bank generally.

         4. TERMINATION; NOTICE.

         (a) Termination. The Company may terminate the Executive's employment
with the Company and the Bank (and the Period of Employment) at any time, with
or without Cause. The Executive may terminate his employment with the Company
and Bank at any time for any reason.

         (b) Event of Termination. As used in this Agreement, an "Event of
Termination" shall mean:

             (i) the termination by the Company and the Bank of the Executive's
full-time employment hereunder for any reason other than for Cause, death or
Disability, or

             (ii) the voluntary termination by the Executive of employment with
the Company and the Bank within sixty (60) days of a Constructive Discharge; or

             (iii) the voluntary termination by the Executive of employment with
the Company and the Bank within one (1) year after the date of a Change in
Control.

         (c) Severance Benefits. Following the occurrence of an Event of
Termination and only so long as the Executive complies with his obligations
under the Non-Competition Agreement described in Paragraph 6 below, the Bank
shall continue to pay to the Executive, or, in the event of his subsequent
death, his beneficiary or beneficiaries, or his estate, as the case may be, as
severance pay, the Base Salary described in Paragraph 3(a) above and to continue
the medical insurance benefits otherwise provided hereunder for the remainder of
the Period of

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Employment, on the same basis as if Executive's employment continued hereunder.

         (d) Cause. The term "for Cause" shall mean termination by the Company
because (i) a material violation by the Executive of any applicable material law
or regulation respecting the business of the Company and its affiliates; (ii)
the Executive's being found guilty of a felony, an act of dishonesty in
connection with the performance of his duties as an officer of the Company or an
affiliate of the Company; or which disqualifies the Executive from serving as an
officer of the Company or an affiliate of the Company; or (iii) the willful or
negligent failure of the Executive to perform his duties hereunder in any
material respect. The Executive shall be entitled to at least thirty days prior
written notice of the Company's intention to terminate his employment for Cause,
specifying the grounds for such termination, a reasonable opportunity to cure
any conduct or act, if curable, alleged as grounds for such termination, and a
reasonable opportunity to present to the Board of Directors of the Company his
position regarding any dispute relating to the existence of Cause for such
termination. In determining willfulness, no act or failure to act on the
Executive's part shall be considered "willful" unless done or omitted to be done
by him not in good faith and without reasonable belief that his action or
omission was in the best interests of the Company or Bank.

         (e) Disability. The term "Disability" shall mean Executive's inability,
as a result of physical or mental incapacity, substantially to perform his
duties hereunder for a period of six (6) months. In the event that it is
reasonably determined that Executive has suffered a Disability, the Company
shall be entitled to terminate his employment. Executive shall be entitled to
compensation and benefits provided for under this Agreement for any period
during the term of this Agreement prior to the establishment of a Disability
during which Executive is unable to work due to a physical or mental disability,
provided that if Executive receives disability income benefits while employed
hereunder, the Company's obligation to pay him salary shall be reduced
accordingly. Notwithstanding anything contained herein to the contrary,
following a period in which Executive is unable substantially to perform his
duties hereunder, until the date specified in a notice of termination relating
to a Disability, the Executive shall be entitled to return to the performance of
his duties hereunder, in which event no Disability shall be deemed to have
occurred. In

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addition to such disability income benefits, if any, as are paid to Executive
under a disability benefit plan of the Company following termination of his
employment, the Company shall for a period of one year following such
termination of employment, pay to Executive such amount as, when aggregated with
such disability income benefits, will provide to him the same after tax income
as he would have received if he had remained employed at the same rate of salary
as was payable when his employment was terminated.

         (f) Constructive Discharge. The term "Constructive Discharge" shall
mean the occurrence, other than in connection with a termination by the Company,
of any one of the following events without the Executive's consent:

                  (i) The Executive is removed from the position of EXECUTIVE
         VICE PRESIDENT AND CHIEF FINANCIAL OFFICER of the Company or the Bank,
         other than as a result of the Executive's election or appointment to
         positions of equal or superior scope and responsibility; or

                  (ii) The Executive shall fail to be vested by the Company
         Employer with the powers, authority and support services of such
         position and such failure has not been remedied by the Company within
         thirty (30) days after receipt of written notice of such failure from
         Executive, or

                  (iii) The Company shall fail to pay the compensation and
         benefits required by Paragraph 3 hereof and such failure has not been
         remedied by the Company within thirty (30) days after receipt of
         written notice of such failure from Executive; or

                  (iv) The Company changes the primary employment location of
         the Executive to a place that is more than thirty-five (35) miles from
         Company's principal office as of the Effective Date, or

         (g) Change in Control. For purposes of this Agreement, the term "Change
in Control" shall mean the following:

                  (i) The consummation of the acquisition by any person (as such
         term is defined in Section 13(d) or

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         14(d) of the Securities Exchange Act of 1934, as amended (the "1934
         Act")) of beneficial ownership (within the meaning of Rule 13d-3
         promulgated under the 1934 Act) of twenty-five percent (25%) or more of
         the combined voting power of the then outstanding voting securities; or

                  (ii) The individuals who, as of the date hereof, are members
         of the Board of Directors of the Company cease for any reason to
         constitute a majority of such Board members, unless the election, or
         nomination for election by the stockholders, of any new director was
         approved by a vote of a majority of the Board, and such new director
         shall, for purposes of this Agreement, be considered as a member of the
         Board; or

                  (iii) Approval by the stockholders of: (A) a merger or
         consolidation if the stockholders of the Company immediately before
         such merger or consolidation do not, as a result of such merger or
         consolidation, own, directly or indirectly, more than sixty-seven
         percent (67%) of the combined voting power of the then outstanding
         voting securities of the entity resulting from such merger or
         consolidation in substantially the same proportion as their ownership
         of the combined voting power of the voting securities of the Company
         outstanding immediately before such merger or consolidation; or (B) a
         complete liquidation or dissolution or an agreement for the sale or
         other disposition of all or substantially all of the assets of the
         entity.

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur
solely because twenty-five percent (25%) or more of the combined voting power of
the then outstanding securities is acquired by: (1) a trustee or other fiduciary
holding securities under one or more employee benefit plans maintained for
employees of the entity; or (2) any corporation which, immediately prior to such
acquisition, is owned directly or indirectly by the stockholders in the same
proportion as their ownership of stock immediately prior to such acquisition.

         (iv) Notice of Termination. Any termination by the Company or by
Executive shall be communicated by Notice of Termination

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to the other party hereto and the termination shall become effective as of the
"Date of Termination" with respect thereto. For purposes of this Agreement, a
"Notice of Termination" shall mean a written notice which shall indicate the
specific termination provision in this Agreement relied upon and shall set forth
in detail the facts and circumstances claimed to provide a basis for the
termination. The "Date of Termination" shall be

                  (i) thirty (30) days after the Notice of Termination is given
         if the Notice of Termination is given by the Company without Cause or
         due to Disability, or by the Executive in the absence of a Constructive
         Discharge; or

                  (ii) the date the Notice of Termination is given if the
         termination is by the Company for Cause; or

                  (iii) thirty (30) days after the Notice of Termination is
         given if the Notice of Termination is given in connection with a
         Constructive Discharge.

         5. INDEMNIFICATION.

         (a) The Company shall provide the Executive (including his heirs,
personal representatives, executors and administrators) for the term of this
Agreement with coverage under any director's and officer's liability insurance
policy which the Company may maintain.

         (b) In addition to such insurance coverage, the Company shall hold
harmless and indemnify the Executive (and his heirs, executors and
administrators) to the fullest extent permitted under applicable law against all
expenses and liabilities reasonably incurred by his in connection with or
arising out of any action, suit or proceeding in which he may be involved by
reason of his having been an officer of the Company or an affiliate of the
Company (whether or not he continues to be an officer at the time of incurring
such expenses or liabilities), such expenses and liabilities to include, but not
be limited to, judgments, court costs and attorneys' fees and the cost of
reasonable settlements.

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         (c) In the event the Executive becomes a party, or is threatened to be
made a party, to any action, suit or proceeding for which the Company has agreed
to provide insurance coverage or indemnification under this Paragraph 5, the
Company shall, to the full extent permitted under applicable law, advance all
expenses (including reasonable attorneys' fees), judgements, fines and amounts
paid in settlement (collectively "Expenses") incurred by the Executive in
connection with the investigation, defense, settlement, or appeal of any
threatened, pending or completed action, suit or proceeding, subject to receipt
by the Company of a written undertaking from the Executive : (i) to reimburse
the Company for all Expenses actually paid by the Company to or on behalf of the
Executive in the event it shall be ultimately determined that the Executive is
not entitled to indemnification by the Company for such Expenses; and (ii) to
assign to the Company all rights of the Executive to indemnification, under any
policy of directors' and officers' liability insurance or otherwise, to the
extent of the amount of Expenses actually paid by the Company to or on behalf of
the Executive.

         6. POST-EMPLOYMENT RESTRICTIVE COVENANTS. The Executive's activities
during his employment and following the termination of his employment for any
reason shall be subject to the Agreement Regarding Post-Employment Restrictive
Covenants (the "Non-Competition Agreement") attached hereto as Appendix B.

         7. EFFECT ON PRIOR AGREEMENTS. This Agreement contains the entire
understanding between the parties hereto and supersedes any prior written or
oral understandings and agreements between Executive and the Company.

         8. MODIFICATION AND WAIVER. This Agreement may not be modified or
amended except by an instrument in writing signed by the parties hereto. No term
or condition of this Agreement shall be deemed to have been waived, nor shall
there be any estoppel against the enforcement of any provision of this
Agreement, except by written instrument of the party charged with such waiver or
estoppel. No such written waiver shall be deemed a continuing waiver unless
specifically stated therein, and each such waiver shall operate only as to the
specific term or condition waived and shall not constitute a waiver of such term
or condition for the future as to any act other than that specifically waived.

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<PAGE>

         9. TAX WITHHOLDING. The Company or Bank may withhold from any amounts
payable to the Executive under this Agreement to satisfy all applicable Federal,
State, local or other withholding taxes. In the event the Company or Bank fails
to withhold such sums for any reason, it may require the Executive to promptly
remit to it sufficient cash to satisfy all applicable income and employment
withholding taxes.

         10. ARBITRATION. Except as expressly set forth elsewhere in this
Agreement or the Non-Competition Agreement, it is mutually agreed between the
parties that arbitration shall be the sole and exclusive remedy to redress any
dispute, claim or controversy (hereinafter referred to as "grievance") involving
the interpretation of this Agreement or the terms or conditions of this
Agreement or the terms, conditions or termination of the Executive's employment
with the Company or Bank. It is the intention of the parties that the
arbitration award shall be final and binding and that a judgment on the award
may be entered in any court of competent jurisdiction and enforcement may be had
according to its terms. Arbitration shall be initiated by one party filing a
written demand on the other party. Any demand for arbitration by the Executive
shall be made within 20 days after receipt of the Notice of Termination. The
arbitrator shall be chosen in accordance with the voluntary labor arbitration
rules of the American Arbitration Association. The place of the arbitration
shall be the offices of the American Arbitration Association in Chicago,
Illinois. The arbitrator shall not have jurisdiction or authority to change any
of the provisions of this Agreement but shall interpret or apply any clause or
clauses of this Agreement. The arbitrator shall have the power to compel the
attendance of witnesses at the hearing. The parties stipulate that the
provisions hereof, and the decision of the arbitrator with respect to any
grievance, shall be the sole and exclusive remedy for any alleged breach of the
employment relationship in which event the Company or Bank shall be entitled to
seek relief in any court having jurisdiction thereof. The parties hereby
acknowledge that subject to the foregoing exception, neither party has the right
to resort to any federal, state or local court or administrative agency
concerning breaches of this Agreement and that the decision of the arbitrator
shall be a complete defense to any suit, action or proceeding instituted in any
federal, state or local court or before any administration agency with respect
to any grievance which is arbitrable as herein set forth. The arbitration
provisions hereof shall, with respect to

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any grievance, survive the termination or expiration of the Executive's
employment under this Agreement.

         11. MISCELLANEOUS.

         (a) If, for any reason, any provision of this Agreement, or any part of
any provision, is held invalid, such invalidity shall not affect any other
provision of this Agreement or any part of such provision not held so invalid,
and each such other provision and part thereof shall to the full extent
consistent with law continue in full force and effect.

         (b) The headings of sections and paragraphs herein are included solely
for convenience of reference and shall not control the meaning or interpretation
of any of the provisions of this Agreement.

         (c) To the extent not preempted by Federal law, this Agreement shall be
governed by and construed in accordance with the laws of the State of Illinois.

         (d) Notwithstanding anything herein to the contrary, to the extent that
any compensation or benefits are paid to or received by Executive from the Bank
or any other subsidiary of the Company, such compensation or benefits shall be
deemed to satisfy the Company's obligations hereunder.

         (e) Notices pursuant to this Agreement shall be in writing and shall be
deemed given to any party (i) upon delivery, if delivered personally or by
courier, or (ii) upon dispatch, if transmitted by telecopy or other means of
facsimile, provided a copy thereof is sent by regular mail or courier; or (c)
within forty-eight (48) hours after deposit thereof in U.S. mail, postage
prepaid for delivery as registered or certified mail, return receipt requested
and, if to the Company, addressed to the principal office of the Company,
attention: Chairman; or, if to the Executive, to the address set forth below
the Executive's signature on this Agreement, or to such other address as the
party to be notified shall have given to the other.

         12. SUCCESSORS. This Agreement shall be binding upon and inure to the
benefit of the Company, and its successors and

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Executive and his successors and assigns. The Company shall require any
successor or assignee, whether direct or indirect, by purchase, merger,
consolidation or otherwise, expressly and unconditionally to assume and agree to
perform the Company's obligations under this Agreement, in the same manner and
to the same extent that the Company would be required to perform if no such
succession or assignment had taken place.

         IN WITNESS WHEREOF, each of the Company and Bank have caused this
Agreement to be executed by its duly authorized officer and the Executive has
signed this Agreement, effective as of the date first written above.

                                       COVEST BANCSHARES, INC.

                                       By:
                                           -------------------------------------
                                       Its: President & Chief Executive
                                            Officer

                                       COVEST BANC, NATIONAL ASSOCIATION

                                       By:
                                           -------------------------------------
                                       Its: President & Chief Executive
                                            Officer

                                       EXECUTIVE:

                                       -----------------------------------------
                                       Paul A. Larsen

                                       Address:

                                       Telecopy No.:

                                       11EXHIBIT 10.14

                            AGREEMENT REGARDING POST-
                        EMPLOYMENT RESTRICTIVE COVENANTS

         THIS AGREEMENT made effective as of April 27, 1999, by and between
CoVest Bancshares, Inc. (the "Company"), CoVest Banc, National Association (the
"Bank") and PAUL A. LARSEN] ("Executive").

                                   WITNESSETH:

         WHEREAS, Company and its affiliates are engaged in depository, lending
and other financial services businesses (the "Business");

         WHEREAS, Executive has expertise, experience and capability in the
Business;

         WHEREAS, the Company and Bank have invested significant amounts in the
development of there Business;

         WHEREAS, Executive will serve as Executive Vice President and Chief
Financial Officer of the Company and the Bank pursuant to an employment
agreement of even date herewith (the "Employment Agreement"), which, among other
things, contains Executive's agreement to enter into this Agreement regarding
confidentiality and post-employment restrictive covenants for the Company, the
Bank, and/or their subsidiaries (the Company, the Bank and/or subsidiaries
hereinafter "Company or its affiliates") in return for the compensation set
forth therein; and

         WHEREAS, Executive is willing to provide such agreements to the Company
and the Bank.

         NOW, THEREFORE, in consideration of the promises and mutual covenants
herein contained, and for other good and valuable consideration, the receipt and
sufficiency of which consideration is mutually acknowledged by the parties, it
is hereby agreed as follows:

1.   RECITALS.

The recitals hereinbefore set forth constitute an integral part of this
Agreement, evidencing the intent of the parties in executing this Agreement, and
describing the circumstances surrounding its execution. Said recitals are by
express reference made a part of the covenants hereof, and this Agreement shall
be construed in light thereof.

2.   CONFIDENTIAL INFORMATION.

<PAGE>

Executive acknowledges that during the course of his employment he will learn or
develop Confidential Information (as that term is defined in this Section 2).
Executive further acknowledges that unauthorized disclosure or use of
Confidential Information, other than in discharge of Executive's duties, will
cause the Company or its affiliates irreparable harm. Executive further agrees
to pay reasonable attorney fees and costs of litigation incurred by the Company
or its affiliates in any proceeding relating to the enforcement of the Agreement
or to any alleged breach thereof in which the Company or its affiliates prevail
in full as determined by a final order entered in such action. In the event of a
breach or a violation by Executive of any of the covenants and provisions of
this Agreement, the running of the Non-Compete Period (but not of Executive's
obligation thereunder), shall be tolled during the period of the continuance of
any actual breach or violation.

For purposes of this Section, Confidential Information means trade secrets (such
as proprietary technical and non-technical data, a program, method, technique,
process) and other confidential information concerning the products, processes,
services, or customers of the Company or its affiliates, including but not
limited to: computer programs; marketing, or organizational research and
development; business plans; revenue forecasts; personnel information, including
the identity of other employees of the Company or its affiliates, their
responsibilities, competence, abilities, and compensation; pricing and financial
information; current and prospective customer lists and information on customers
or their employees; information concerning planned or pending acquisitions or
divestitures; and information concerning purchases of major equipment or
property, which information: (a) has not been made generally available to the
public; and (b) is useful or of value to the current or anticipated business, or
research or development activities of the Company or its affiliates; or (c) has
been identified to Executive as confidential by the Company or its affiliates,
either orally or in writing during his employment.

Except in the course of his employment and in the pursuit of the business of the
Company or its affiliates, Executive shall not, during the course of his
employment, or following termination of his employment for any reason, directly
or indirectly, disclose, publish, communicate or use on his behalf or another's
behalf, any Confidential Information, proprietary information or other data of
the Company or its affiliates.

Executive acknowledges that as to certain aspects of its business, the Company
and its affiliates operate and compete throughout Cook County, Illinois and
adjacent counties and that the Company or its affiliates will be harmed by
unauthorized disclosure or use of Confidential Information regardless of where
such disclosure or use occurs, and that therefore this confidentiality agreement
is not limited to any single state or other jurisdiction.

<PAGE>

3.   NON-COMPETITION.

During the term of his employment and for the period ending upon the later of
(a) twelve (12) months after the date Executive's employment with the Company
and its affiliates terminates, or (b) the date the Executive receives the final
payment of any severance payments under the Employment Agreement (the
"Non-Compete Period"), the Executive shall not, in the Territory (except in his
capacity as an officer or director of the Company or its affiliate), (a) engage
or participate in the business of an institution insured by the Federal Deposit
Insurance Corporation or the National Credit Union Administration (an "Insured
Institution"), (b) engage or participate in, be employed by or render services
to any Insured Institution or any affiliate thereof engaged in lending
activities, or (c) directly or indirectly become interested in any Insured
Institution or any affiliate thereof engaged in lending activities referred to
in clause (b) above in any capacity, including without limitation, as an
individual, partner, shareholder, lender, officer, director, principal, agent or
trustee; provided, however, that the Executive may own, directly or indirectly,
solely as an investment, securities of any Insured Institution or affiliate
thereof if Executive is not a controlling person of such entity, or a member of
a group which controls such entity and Executive does not own more than 5% of
any class of equity securities of such entity.

"Territory" for purposes hereof shall mean those communities in which the
Company or any of its affiliates has an office or branch, or has filed an
application for regulatory approval to establish an office or branch (whether de
novo or by acquisition), together with those communities which are within a 25
mile radius of any such financial institutions or branches. The "Territory"
shall become fixed as of the earlier date of (1) the date the Executive's
employment terminates, or (2) the date immediately preceding the date of a
Change in Control (as defined in the Employment Agreement), and shall not be
expanded as a result of any additional communities in which the Company or any
of its affiliates may thereafter establish a financial institution or branch.

4.   INDUCEMENT OF OTHER EMPLOYEES.

During the Non-Compete Period, Executive will not directly or indirectly
solicit, induce or encourage any person who, as of the date immediately
preceding the date of the termination of Executive's employment, is an employee
of the Company or any of its affiliates to terminate his or her relationship
with the Company or its affiliates.

5.   RETURN OF THE COMPANY'S PROPERTY.

All notes, reports, plans, published memoranda or other documents created,
developed, generated or held by Executive during employment, concerning or
related to the Company's or its affiliates' business, and whether containing or
relating to Confidential Information or not, are the property of the Company or
its affiliates and will be promptly delivered to the Company or its affiliates
upon termination of Executive's employment for any reason whatsoever.

<PAGE>

6.   REMEDIES.

Executive acknowledges that the restraints and agreements herein provided are
fair and reasonable, that enforcement of the provisions of Sections 2, 3, 4 and
5 will not cause him undue hardship and that said provisions are reasonably
necessary and commensurate with the need to protect the Company or its
affiliates and its legitimate and proprietary business interests and property
from irreparable harm.

Executive acknowledges that failure to comply with the terms of this Agreement
will cause irreparable damage to the Company or its affiliates. Therefore,
Executive agrees that, in addition to any other remedies at law or in equity
available to the Company or its affiliates for Executive's breach or threatened
breach of this Agreement, the Company or its affiliates is entitled to (a) the
repayment by Executive of any severance benefits paid or provided to Executive
under the Employment Agreement and (b) specific performance or injunctive
relief, without bond, against Executive to prevent such damage or breach, and
the existence of any claim or cause of action Executive may have against the
Company will not constitute a defense thereto. Executive further agrees to pay
reasonable attorney fees and costs of litigation incurred by the Company or its
affiliates in any proceeding relating to the enforcement of the Agreement or to
any alleged breach thereof in which the Company or its affiliates prevail in
full as determined by a final order entered in such action.

In the event of a breach or a violation by Executive of any of the covenants and
provisions of this Agreement, the running of the Non-Compete Period (but not of
Executive's obligation thereunder), shall be tolled during the period of the
continuance of any actual breach or violation.

7.   ENTIRE UNDERSTANDING.

This Agreement constitutes the entire understanding between the parties relating
to Executive's restrictions on Executive's post-employment services and
supersedes and cancels all prior written and oral understandings and agreements
with respect to such matters.

8.   BINDING EFFECT.

This Agreement shall be binding upon and inure to the benefit of the Company and
its successors and Executive and his successors and assigns. The Company shall
each require any successor or assignee, whether direct or indirect, by purchase,
merger, consolidation or otherwise, expressly and unconditionally to assume and
agree to perform the Company's obligations under this Agreement, in the same
manner and to the same extent that the Company would be required to perform if
no such succession or assignment had taken place.

<PAGE>

9.   PARTIAL INVALIDITY.

The various provisions of this Agreement are intended to be severable and to
constitute independent and distinct binding obligations. Should any provision of
this Agreement be determined to be void and unenforceable, in whole or in part,
it shall not be deemed to affect or impair the validity of any other provision
or part thereof, and such provision or part thereof shall be deemed modified to
the extent required to permit enforcement. Without limiting the generality of
the foregoing, if the scope of any provision contained in this Agreement is too
broad to permit enforcement to its full extent, but may be made enforceable by
limitations thereon, such provision shall be enforced to the maximum extent
permitted by law, and Executive hereby agrees that such scope may be judicially
modified accordingly.

10.  STRICT CONSTRUCTION.

The language used in this Agreement will be deemed to be the language chosen by
the Company and Executive to express their mutual intent and no rule of strict
construction shall be applied against any person.

11.  WAIVER.

The waiver of any party hereto of a breach of any provision of this Agreement by
any other party shall not operate or be construed as a waiver of any subsequent
breach.

12.  NOTICES.

Any notice or other communication required or permitted to be given hereunder
shall be determined to have been duly given to any party (a) upon delivery to
the address of such party specified on the signature page hereof if delivered
personally or by courier; (b) upon dispatch if transmitted by telecopy or other
means of facsimile, provided a copy thereof is also sent by regular mail or
courier; or (c) within forty-eight (48) hours after deposit thereof in the U.S.
mail, postage prepaid, for delivery as certified mail, return receipt requested,
addressed, in any case to the party at the address(es) or telecopy numbers set
forth on the signature page hereof or to such other address(es) or telecopy
number(s) as any party may designate by written notice in the aforesaid manner.

13.  GOVERNING LAW.

This Agreement shall be governed by, and interpreted, construed and enforced in
accordance with, the laws of the State of Illinois.

14.  GENDER AND NUMBER.

Wherever from the context it appears appropriate, each term stated in either the
singular of plural shall include the singular and the plural, and the pronouns
stated in either the masculine, the feminine or the neuter gender shall include
the masculine, feminine or neuter.

<PAGE>

15.  HEADINGS.

The headings of the Sections of this Agreement are for reference purposes only
and do not define or limit, and shall not be used to interpret or construe the
contents of this Agreement.

         IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed at Des Plaines, Illinois, on the date above set forth.

                             COVEST BANCSHARES, INC.
                             By:
                                 ----------------------------------------------
                             Its: President and Chief Executive Officer

                             COVEST BANC, NATIONAL ASSOCIATION
                             By:
                                -----------------------------------------------
                             Its: President and Chief Executive Officer

                             Address: 749 Lee Street Des Plaines, Illinois 60016
                             Telecopy No.: (847) 294-0635

                             EXECUTIVE

                             --------------------------------------------------

                             Address:
                                     ------------------------------------------

                                     ------------------------------------------

                             Telecopy No.:
                                           ------------------------------------

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