Document:

Exhibit 10.2

    EXHIBIT
      10.2

    
 

    CONSENT
      AND EIGHTH AMENDMENT TO 

    AMENDED
      AND RESTATED CREDIT AGREEMENT

    

    This
      Consent and Eighth Amendment to Amended and Restated Credit Agreement
      ("Amendment") is dated as of May 12, 2006, and is by and among General
      Electric Capital Corporation, a Delaware corporation, individually as a Lender
      and as Agent for the Lenders, SportRack, LLC, a Delaware limited liability
      company ("SportRack US Borrower"), Valley Industries, LLC, a Delaware limited
      liability company ("Valley US Borrower" and, together with SportRack US
      Borrower, "US Borrowers"), Brink International B.V., a private company with
      limited liability (besloten
      vennootschap met beperkte aansprakelijkheid)
      incorporated under the laws of The Netherlands, having its corporate seat
(statutaire
      zetel)
      in
      Staphorst, The Netherlands and registered with the Chamber of Commerce
(Kamer
      van Koophandel)
      in Regio
      Zwolle under number 05058752 ("European Borrower" and, together with US
      Borrowers, "Borrowers"), the other persons designated as "Credit Parties" on
      the
      signature pages hereof, and the Lenders which are signatories
      hereto.

     

    W
      I T
      N E S S E T H:

     

    WHEREAS,
      pursuant to that certain Amended and Restated Credit Agreement dated as of
      May 23, 2003 by and among General Electric Capital Corporation, a Delaware
      corporation, individually as a Lender and as Agent for the Lenders, the other
      Lenders party thereto, Borrowers and the other Credit Parties signatory from
      time to time thereto (as amended or otherwise modified from time to time, the
      "Credit Agreement"; capitalized terms used herein and not otherwise defined
      herein shall have the meaning ascribed to such terms in the Credit Agreement),
      Agent and Lenders agreed, subject to the terms and provisions thereof, to
      provide certain loans and other financial accommodations to Borrowers;
      and

     

    WHEREAS,
      Borrowers have requested that Agent and Lenders consent to the transfer (the
      "Restructure") (i) by US SportRack Holdings to Holdings of 100% of the
      outstanding Stock issued by SportRack US Borrower such that SportRack US
      Borrower is a Wholly-owned Subsidiary of Holdings rather than of US SportRack
      Holdings and (ii) by SportRack US Borrower to US SportRack Holdings of 10%
      of the outstanding Stock issued by SportRack Accessories, Inc., a Quebec
      corporation ("SportRack Canada"), such that SportRack Canada is a Wholly-owned
      Subsidiary of US SportRack Holdings, in each case in accordance with the
      documents set forth on Exhibit
      A
      hereto
      (the "Restructure Documents"). 

     

    WHEREAS,
      Borrowers have requested that Agent and Lenders agree to amend the Credit
      Agreement in certain respects, as set forth below.

     

    NOW,
      THEREFORE, in consideration of the premises and other good and valuable
      consideration, the receipt and sufficiency of which are hereby acknowledged,
      the
      parties hereto agree as follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.  Consent.

     

    Subject
      to the satisfaction of the conditions precedent set forth in Section 3 of this
      Amendment, and in reliance on the representations and warranties set forth
      in
      Section 5 of this Amendment, and notwithstanding any provisions of the Credit
      Agreement to the contrary, Agent and Lenders hereby consent to the Restructure.
      The foregoing consent is a limited consent, which shall be effective only with
      respect to the specific facts set forth above. Such limited consent shall not
      be
      deemed to constitute a consent or waiver of any term, provision or condition
      of
      the Credit Agreement with respect to any transaction or circumstance other
      than
      the specific facts set forth above or to prejudice any right or remedy that
      Agent or Lenders may now have or may have in the future under or in connection
      with any of the Loan Documents.

     

    2.  Amendments
      to Credit Agreement.
      Subject
      to the satisfaction of the conditions precedent set forth in Section 3 of this
      Amendment, and in reliance on the representations and warranties set forth
      in
      Section 5 of this Amendment, the Credit Agreement is hereby amended as
      follows:

     

    (a)  The
      ninth
      and tenth whereas clauses of the Credit Agreement are hereby amended and
      restated in their entirety as follows:

     

    WHEREAS,
      CHAAS Acquisitions, LLC, a Delaware limited liability company ("Holdings")
      that
      owns all of the Stock of Advanced Accessory Systems, LLC, a Delaware limited
      liability company ("US
      SportRack Holdings"),
      SportRack US Borrower, Valley US Borrower and European US Holdings (as
      hereinafter defined), is willing to guaranty all of the Obligations and to
      pledge to Agent, for the benefit of Agent and Lenders, all of the Stock of
      US
      SportRack Holdings, SportRack US Borrower, Valley US Borrower and European
      US
      Holdings to secure the Obligations; and

     

    WHEREAS,
      Advanced Accessory Systems, LLC, a Delaware limited liability company
      ("US
      SportRack Holdings")
      is
      willing to continue to guaranty all of the Obligations; and

     

    (b)  Clauses
      (3) and (4) of Section 6.1(m) of the Credit Agreement are hereby amended and
      restated in their entirety as follows:

     

    (3)
      Holdings engages in any type of business activity other than the ownership
      of
      Stock of US SportRack Holdings, SportRack US Borrower, Valley US Borrower and
      European US Holdings and activities reasonably related thereto in its capacity
      as a passive holding company, (4) US SportRack Holdings engages in any type
      of
      business activity other than the ownership of Stock of SportRack Accessories,
      Inc., a Quebec corporation, and activities reasonably related thereto in its
      capacity as a passive holding company,

     

    (c)  Clauses
      (b) and (c) of the definition of "Change of Control" set forth in Annex A of
      the
      Credit Agreement are hereby amended and restated in their entirety as
      follows:

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (b) except
      to the extent (if any) that the Requisite Lenders or Lenders, as applicable,
      in
      their sole and absolute discretion expressly consent in writing or except as
      expressly permitted by the Agreement, Holdings ceases to own and control all
      of
      the economic and voting rights associated with all of the outstanding Stock
      of
      US SportRack Holdings, SportRack US Borrower, Valley US Borrower and European
      US
      Holdings, (c) [intentionally omitted],

     

    (d)  The
      items
      set forth under the heading "Holdings" and "US SportRack Holdings" set forth
      on
      Schedule 3.9 of the Credit Agreement are hereby amended and restated in their
      entirety as follows:

     

    Holdings

     

    A
      passive
      holding company. Holdings owns all of the Stock of US SportRack Holdings,
      SportRack US Borrower, Valley US Borrower and European US Holdings.

     

    US
      SportRack Holdings

     

    A
      passive
      holding company. US SportRack Holdings is the co-Issuer of the Public
      Notes.

     

    (e)  Schedule
      5.4(b) of the Credit Agreement is hereby amended to reflect that 100% of the
      outstanding Stock issued by (i) SportRack US Borrower is owned by Holdings
      rather than by US SportRack Holdings and (ii) SportRack Canada is owned by
      US SportRack Holdings.

     

    3.  Conditions
      Precedent.
      The
      effectiveness of this Amendment is subject to the satisfaction of the following
      conditions precedent:

     

    (a)  Agent
      shall have received this Amendment executed by all of the Credit Parties and
      Requisite Lenders;

     

    (b)  Agent
      shall have received, each in form and substance satisfactory to Agent,
      (i) amendments to the applicable Pledge Agreements (along with irrevocable
      proxies relating thereto) to continue to provide that 100% of the outstanding
      Stock of each of SportRack US Borrower and SportRack Canada is pledged to Agent,
      and (ii) a Secretary's Certificate from each of Holdings and US SportRack
      Holdings pertaining to such amendments to such Pledge Agreements;

     

    (c)  All
      proceedings taken in connection with the transactions contemplated by this
      Amendment and all documents, instruments and other legal matters incident
      thereto shall be satisfactory to Agent, Lenders and their respective legal
      counsel; and

     

    (d)  No
      Default or Event of Default shall have occurred and be continuing, both before
      and after giving effect to the provisions of this Amendment.

     

    4.  References;
      Effectiveness.
      Agent,
      Lenders and Credit Parties hereby agree that all references to the Credit
      Agreement which are contained in any of the other Loan Documents shall refer
      to
      the Credit Agreement as amended by this Amendment.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    5.  Representations
      and Warranties.
      To
      induce Agent and Lenders to enter into this Amendment, each Credit Party hereby
      represents and warrants to Agent and Lenders that:

     

    (a)  The
      execution, delivery and performance by such Credit Party of this Amendment
      and
      the transactions contemplated hereby is within its organizational power, have
      been duly authorized by all necessary action, have received all necessary
      governmental approval (if any shall be required), and do not and will not
      contravene or conflict with any provision of law applicable to such Credit
      Party, the articles of incorporation, by-laws or any other organizational
      document of such Credit Party, any order, judgment or decree of any court or
      governmental agency, or any agreement, instrument or document binding upon
      such
      Credit Party or any of its property;

     

    (b)  Each
      of
      the Credit Agreement and the other Loan Documents, as amended by this Amendment,
      are the legal, valid and binding obligation of such Credit Party, enforceable
      against such Credit Party in accordance with their terms, except as such
      enforceability may be limited by applicable bankruptcy, reorganization,
      moratorium, fraudulent transfer or other similar laws affecting creditors'
      rights generally or by principles governing the availability of equitable
      remedies;

     

    (c)  After
      giving effect to the amendments set forth herein, the representations and
      warranties contained in the Credit Agreement and the other Loan Documents are
      true and accurate (in all material respects if any such representation and
      warranty is not by its terms already qualified as to materiality) as of the
      date
      hereof with the same force and effect as if such had been made on and as of
      the
      date hereof (other than those which, by their terms, specifically are made
      as of
      a certain date prior to the date hereof);

     

    (d)  Such
      Credit Party has performed in all material respects all of its obligations
      under
      the Credit Agreement and the Loan Documents to be performed by it on or before
      the date hereof and as of the date hereof, such Credit Party is in compliance
      in
      all material respects with all applicable terms and provisions of the Credit
      Agreement and each of the Loan Documents to be observed and performed by it
      and
      no Event of Default or other event which, upon notice or lapse of time or both,
      would constitute an Event of Default, has occurred; 

     

    (e)  The
      execution and performance of the Restructure Documents and consummation of
      the
      Restructure and the transactions contemplated thereby does not and will not
      (i)
      violate, contravene or conflict with any Contractual Obligation (including,
      without limitation, any provision of the Public Note Indenture, the Intermediate
      Holdings Note Indenture or the Subordinated Notes) of any Credit Party or (ii)
      cause or otherwise result in any prepayment of, redemption of, acceleration
      of
      or offer to purchase any amounts in respect of any Indebtedness (including,
      without limitation, the Public Note Debt, the Intermediate Holdings Note Debt
      or
      the Indebtedness evidenced by the Subordinated Notes); and

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (f)  Attached
      hereto as Exhibit
      A
      is a
      true, correct and complete executed copy of each of the Restructure Documents,
      which constitute all of the material agreements and material documents to be
      executed and/or delivered in connection with the Restructure.

     

    6.  Reaffirmation
      of Collateral Documents.
      Each
      Credit Party hereby (a) affirms that (i) except as expressly contained herein,
      nothing contained therein shall modify in any respect whatsoever any of its
      obligations under any of the Collateral Documents to which it is a party and
      (ii) each such Collateral Document is and shall continue to remain in full
      force
      and effect and (b) agrees that all references in any of the Loan Documents
      to
      the "Obligations" shall be deemed to refer to the definition of "Obligations"
      as
      amended by this Amendment and as otherwise amended from time to
      time.

     

    7.  Counterparts.
      This
      Amendment may be executed in any number of counterparts and by the different
      parties on separate counterparts, and each such counterpart shall be deemed
      to
      be an original, but all such counterparts shall together constitute but one
      and
      the same Amendment.

     

    8.  Continued
      Effectiveness.
      Except
      as amended hereby, the Credit Agreement and each of the Loan Documents shall
      continue in full force and effect according to its terms.

     

    9.  Costs
      and Expenses.
      Each
      Credit Party hereby acknowledges
      and agrees that this Amendment is a "Loan Document" for purposes of, among
      other
      things, subsection 1.3(e) of the Credit Agreement.

     

    10.  Post
      Closing Deliveries.
      Borrowers hereby agree that within
      five (5) Business Days of the date hereof, Borrowers shall deliver to Agent
      all
      original stock certificates that are subject to the amendments to the applicable
      Pledge Agreements described in Section 3(b) above,
      together
      with original assignments separate from certificate relating thereto.
      The
      failure to comply with this Section 10 shall result in an immediate Event of
      Default under the Credit Agreement.

     

    [signatures
      follow]

     

    

     

    
      
        
           

           

        

        
        

      

      
        5

        
          

        

      

      
        
        

        
          

        

      

    

    IN
      WITNESS WHEREOF, this Amendment has been executed as of the day and year first
      written above.

     

    BORROWERS:

     

    
      	
              SPORTRACK,
                LLC

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              VALLEY
                INDUSTRIES, LLC

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              BRINK
                INTERNATIONAL B.V. 

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      
        
           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    

    
      	
              OTHER
                CREDIT PARTIES:

               

            
	
              CHAAS
                HOLDINGS, LLC

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              ADVANCED
                ACCESSORY HOLDINGS CORPORATION

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              CHAAS
                ACQUISITIONS, LLC

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              ADVANCED
                ACCESSORY SYSTEMS, LLC

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              AAS
                ACQUISITIONS, LLC

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              CHAAS
                HOLDINGS B.V.

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    

    
      
        
           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    

    
      	
              SPORTRACK
                ACCESSORIES INC.

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              SPORTRACK
                GMBH

               

              By:
                /s/
                Michael Runte 

              Name:
                Michael
                Runte 

              Title:
                Managing Director  

            

    

    

    
      	
              VALTEK,
                LLC

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO

            

    

    

    
      	
              CHAAS
                HOLDINGS III B.V.

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              AAS
                CAPITAL CORPORATION

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO

            

    

    

    
      	
              NOMADIC
                SPORT INC.

               

              By:
                /s/
                Ronald J Gardhouse 

              Name:
                Ronald
                J.Gardhouse 

              Title:
                EVP& CFO 

            

    

    

    
      	
              SPORTRACK
                S.R.O.

               

              By:
                /s/
                Michael Runte 

              Name:
                Michael
                Runte 

              Title:
                Managing Director 

            

    

    

    

    
      
        
           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    

    
      	
              SPORTRACK
                IBERICA AUTOMOTIVE, S.L. UNIPERSONAL

               

              By:
                /s/
                Michael Runte 

              Name:
                Michael
                Runte 

              Title:
                Managing Director 

            

    

    

    
      	
              BRINK
                SVERIGE AB

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              BRINK
                U.K. LIMITED

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              BRINK
                NORDISK HOLDINGS APS

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              BRINK
                POLSKA SP Z.O.O.

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              BRINK
                FRANCE S.A.R.L.

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              ELLEBI
                S.R.L.

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    

    
      
        
           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    

    
      	
              NORDISK
                KOMPONENT HOLDINGS A/S

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              SOCIETE
                DE FABRICATION D'EQUIPEMENTS ET D'ACCESSOIRES SA

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              BRINK
                A/S

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              SCI
                L'ELMONTAISE

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    
      	
              CHAAS
                HOLDINGS II B.V.

               

              By:
                /s/
                Gerrit de Graaf 

              Name:
                Gerrit
                de Graaf 

              Title:
                CEO 

            

    

    

    

    
      
        
           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    

    

    
      	
              AGENT
                AND LENDERS:

               

            
	
              GENERAL
                ELECTRIC CAPITAL CORPORATION,
                as Agent and a Lender

               

              By:/s/
                Gerard M. Havabergh

              Name:
                Gerard
                M. Havabergh, M.D.

              Title:
                Duly Authorized Signatory

               

            
	
              PB
                CAPITAL CORPORATION,
                as a Lender

               

              By:

              Name:

              Title:
                

               

            
	
              COMERICA
                BANK,
                as a Lender

               

              By:
                /s/
                Steven J. McCormack

              Name:
                Steven
                J. Mccormack

              Title:
                Vice
                PresidentEXHIBIT 10.1

SEVERANCE
  AND 
 GENERAL
RELEASE AGREEMENT

          THIS AGREEMENT is made and entered into as of May 15, 2006, by and between BARBARA J. KUHL (hereinafter referred to as “Kuhl”) and FIRST BUSEY CORPORATION, a Nevada corporation (hereinafter referred to as the “Company”);

WITNESSETH:

          WHEREAS, Kuhl heretofore is employed as an employee of the Company; and

          WHEREAS, Kuhl’s employment with the Company is being terminated as of May 15, 2006; and

          WHEREAS, Kuhl and the Company wish to resolve all matters between them relating to Kuhl’s separation from employment;

          NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, the parties hereto hereby agree as follows:

          1.     Kuhl hereby confirms her termination, effective May 15, 2006 (hereinafter referred to as the “Termination Date”), as an employee of the Company and any other corporation, joint venture, trust or other entity owned or controlled, directly or indirectly, by the Company (hereinafter referred to collectively as the “Affiliated Entities”) of which she was an employee.  Kuhl hereby confirms her termination, effective on the Termination Date, of all of her director, officer, trustee and other positions with the Company and the Affiliated Entities, except for her position as director of Busey Bank.

          2.     As consideration for Kuhl’s promises under this Agreement, the Company agrees to provide Kuhl with the following payments and benefits (hereinafter referred to collectively as the “Termination Benefits”):

	
  
 
  	
  
          (i)          the   Company will pay Kuhl a severance payment of Three Hundred Sixty Thousand   Dollars ($360,000) payable in equal installments over the twenty-four (24)   month period commencing on the Termination Date (the “Payment Period”).  Such payment will be paid in accordance   with regular payroll practices of the Company and at the time salary would   otherwise have been paid to Kuhl had she remained an employee of the Company   during the Payment Period.  Such   payment shall be subject to normal tax and other withholdings and deductions.
  

	
  
 
  	
  
          (ii)         Upon   the expiration of the seven (7) day period in Section 24 hereof, the   Company will pay Kuhl a lump sum payment of Sixty-Five Thousand Dollars   ($65,000).  Such payment shall be   subject to normal tax and other withholdings and deductions.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (iii)        During   the Payment Period, Kuhl will be eligible to receive single health insurance   coverage; provided   however, Kuhl will be required to pay the amount of premium for   such insurance coverage as she would have had to pay had she remained   employed by the Company.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (iv)         In   January, 2007, the Company will pay to Kuhl one-third (1/3) of the bonus   under the Company’s MAD program for the 2006 program year which Kuhl would   have earned under the Company’s MAD program had Kuhl remained an employee of   the Company during all of 2006.  Such   payment by the Company shall be subject to normal tax and other withholdings.
  
	
   
  	
  
 
  
	
  
 
  	
  
          (v)          As   of the Termination Date, the Company shall transfer to Kuhl the title of the   Lexus automobile which Kuhl currently drives.
  

          3.     The Company hereby acknowledges that the Compensation Committee of the Board of Directors has approved that the stock options granted to Kuhl under the Company’s stock option plans shall continue in effect as if Kuhl’s employment was not terminated.  The Company also acknowledges that Kuhl will continue to be covered under its life insurance plan, subject to the terms of such plan.

          4.     Kuhl, on behalf of Kuhl and each of Kuhl’s heirs, executors, administrators, personal representatives and assigns, to the fullest extent permitted by applicable law, hereby releases and forever discharges the Company, the Affiliated Entities, and their respective directors, officers, employees, agents, predecessors and successors (collectively, the “Released Parties”) from any and all claims, demands, liabilities, obligations, debts and causes of action of any nature whatsoever, whether now known or unknown, fixed or contingent, which, as of the date hereof or at any time prior hereto, Kuhl has, had, may have or may have had against or respecting any of the Released Parties with respect to any matter whatsoever, including, without limitation, any and all claims, demands, liabilities, obligations, debts and causes of action which Kuhl may have against
or respecting any of the Released Parties concerning:

	
   
  	
  
          (i)          salary,   wages, bonuses, accrued vacation pay, employee benefits, severance (except as   provided hereunder) and other compensation of any nature whatsoever for the   period ending at the Termination Date, except those employment benefits   accrued as of the Termination Date and not yet paid as of the date of this   Agreement identified on Schedule A attached hereto and hereby made a   part hereof (the “Accrued Benefits”); and
  

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          (ii)         the   employment of Kuhl, the termination thereof or arising under or based upon,   directly or indirectly, in whole or in part, the Employee Retirement Income   Security Act of 1974 as amended (“ERISA”), Title VII of the Civil   Rights Act of 1964 as amended, §1981 of the 1871 Civil Rights Act as amended,   the Civil Rights Act of 1991 as amended, the Americans With Disabilities Act   of 1990 as amended, the Equal Employment Opportunity Act of 1972 as amended,   the Family and Medical Leave Act of 1993 as amended, the Fair Labor Standards   Act of 1938 as amended, the Equal Pay Act of 1963 as amended, the   Rehabilitation Act of 1973 as amended, any other federal, state or local   equal employment opportunity, wage payment law or workers’ compensation law,   or any other federal, state or local law, statute,
ordinance, decision,   order, policy or regulation establishing or relating to claims or rights of   employees, including, but not limited to, any and all claims alleging   interference with the attainment of any rights under any insurance, pension,   profit sharing or other employee benefit plan, any and all claims in tort or   contract, and any and all claims alleging breach of an express or implied, or   oral or written, contract, policy manual or employee handbook, or alleging   misrepresentation, defamation, interference with contract, duress,   intentional or negligent infliction of emotional distress, negligence or   wrongful discharge.
  

          5.     Kuhl understands and agrees that, except for the Termination Benefits and the Accrued Benefits, this Agreement constitutes a general release of all claims, demands, liabilities, obligations, debts and causes of action of every kind and nature against the Released Parties whether or not they are specifically referred to herein, and that no reference herein to a specific claim, statute or law is intended to limit the scope of the general release contained herein; provided, however, that this general release does not relate to any rights or claims arising after the date hereof.

          6.     Kuhl represents and affirms that at no time prior to the execution of this Agreement has she filed, instituted or maintained, and at no time subsequent thereto will she file, institute or maintain, or cause or knowingly permit the filing, institution or maintenance, in any state, federal or foreign court, or before any local, state, federal or foreign arbitration or administrative agency, or any other tribunal, any charge, claim, lawsuit, arbitration, proceeding or action of any kind, nature or character whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, which she may now have or has ever had against any of the Released Parties which is based in whole or in part on any matter arising or existing on or before the date hereof (other than with respect to the Termination Benefits and the Accrued Benefits).  Kuhl further covenants and agrees that
she will not encourage any person or entity to file or institute any legal, arbitration or administrative proceeding against any of the Released Parties and that she will not aid or assist any such person or entity in prosecuting any such legal, arbitration or administrative proceeding, except as required by applicable law or legally enforceable order.  Kuhl hereby covenants and agrees that she will make no claims or file or institute any actions against any of the Released Parties which are contrary to or which violate any of the provisions of this Agreement.

          7.     In the event that either party shall fail to fully comply with any of the material provisions of this Agreement, the other party shall be entitled to any and all other rights or remedies set forth herein, as well as any other remedy available in law or in equity.  In addition, upon the demand of the Company, Kuhl agrees to immediately pay to the Company an amount equal to the payment made to Kuhl pursuant to Section 2(ii) and (iv) hereof and the payments being made pursuant to Section 2(i) and the benefits provided under Section 2 (iii) shall immediately cease.

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          8.     For a period of twenty-four (24) months following the Termination Date, Kuhl agrees that she will not (i) act as a manager, officer, director, employee, consultant, agent or representative of, or assist in any way or in any capacity, any person, firm, association, partnership, corporation, limited liability company or other entity which (a) sells or provides products or services in competition with the Company or any Affiliated Entities anywhere within the Trade Area of the Company, as hereinafter defined, or (b) solicit business from any persons who were customers of the Company or any Affiliated Entities during the two-year period prior to such termination; or (ii) directly or indirectly entice, induce or in any manner influence any person who is, or shall be, in the service of the Company or Affiliated Entities to leave such service for the purpose of
engaging in a business, or being employed by or associated with any person, firm, association, partnership, corporation, limited liability company or other entity, which is in competition with the Company or Affiliated Entities.  As used herein, the term “Trade Area” means the thirty (30) mile radius around any Company or Affiliated Entity location.  Kuhl acknowledges and agrees that the Company sells its products and services throughout the Trade Area and, therefore, the geographic scope of the restriction contained herein is both reasonable and necessary under the circumstances.

          9.     Kuhl agrees that all financial data, customer lists, computer software programs, source codes, plans, formulas, contracts, agreements, literature, manuals, catalogs, brochures, books, records, maps, correspondence and other materials furnished to Kuhl by the Company or any Affiliated Entity, or secured through the efforts of Kuhl, relating to the business conducted by the Company or any Affiliated Entity, are and shall remain the property of the Company or the Affiliated Entity, as the case may be, and Kuhl agrees to deliver all such materials, including all duplicates and copies thereof and extracts therefrom, to the Company upon the termination of the Kuhl’s employment hereunder, or at any other time at the Company’s request.

          10.    Kuhl agrees that she will not at any time after her employment with the Company reveal, divulge or make known to any person, firm or corporation any trade secrets or confidential business information relating to the business of the Company or an Affiliated Entity (including customer lists, customer information or data, methods of doing business, budgets, future plans, products and services), and will retain all such knowledge and information Kuhl acquires during her employment therewith relating to such trade secrets and confidential business information and the business of the Company or an Affiliated Entity in trust in a fiduciary capacity for the sole benefit of such entities and their respective successors and assigns.

          11.    In the event that any court shall finally hold that the time or territory or any other provision of Sections 8, 9 and 10 constitutes an unreasonable restriction against Kuhl, Kuhl agrees that the provisions hereof shall not be rendered void but shall apply as to such time, territory and other extent as such court may judicially determine or indicate constitutes a reasonable restriction under the circumstances involved.  The Company and Kuhl each request that any such court which holds that any of the provisions of Sections 8, 9 and 10 constitutes an unreasonable restriction against Kuhl make a determination of what would constitute a reasonable restriction under the circumstances involved.

          12.    The provisions of Sections 8, 9, 10 and 11 shall run to and inure to the benefit of the Company and Affiliated Entities and their respective successors and assigns.

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          13.    Kuhl covenants and agrees that she will not make or solicit or encourage others to make any untrue or materially damaging allegations, statements or remarks, either oral or written, concerning any of the Released Parties, and that she is not aware of any violations by any of the Released Parties, of any federal, state, local, administrative or judicial laws, statutes, treaties, rules, regulations, ordinances, decrees or orders.  The Company covenants and agrees that it will not make or solicit or encourage others to make any untrue or materially damaging allegations, statements or remarks, either oral or written, concerning Kuhl and that it is not aware of any violations by Kuhl of any federal, state, local, administrative or judicial laws statutes, treaties, rules, regulations, ordinances, decrees or orders.

          14.    Kuhl represents and warrants to the Company that she has heretofore returned to the Company all personal property, documents, client lists, keys, credit cards, keycards and all other items which are the property of the Company and/or the Affiliated Entities and, in the case of documents, any and all materials of any kind (including, but not limited to, tape recordings and videotapes) which contain confidential or proprietary information of the Company or any of the Affiliated Entities.

          15.    Kuhl represents and warrants that in executing this Agreement she has not relied upon any representation or statement by the Company or any of the Released Parties with respect to the subject matter, basis or effect of this Agreement.

          16.    Kuhl recognizes and understands that she may be a witness in litigation, arbitrations or administrative proceedings involving the Company or other Released Parties.  Kuhl hereby covenants and agrees to testify truthfully in any and all such matters.  Kuhl further agrees, upon reasonable prior notice, to reasonably cooperate with the Company and/or such other Released Parties and with its or their respective attorneys in connection with such matters.  The Company agrees to compensate Kuhl for her reasonable expenses in connection with any such services.

          17.    Kuhl acknowledges and agrees that she is entering into this Agreement knowingly and voluntarily, without coercion or duress of any nature whatsoever, in order to receive the Termination Benefits, which Kuhl agrees and acknowledges she would not otherwise be entitled to receive.  Kuhl further acknowledges that she has been advised of her right to seek advice and counsel from others, including an attorney, before executing this Agreement and that she has been given at least twenty-one (21) days to consider this Agreement.

          18.    Kuhl agrees to keep the terms of this Agreement (except for such terms which are publicly disclosed) and the circumstances surrounding this Agreement strictly confidential.  Kuhl may disclose the terms of this Agreement to her spouse, accountant, attorney and taxing authorities only as may be necessary for her financial affairs or as required by law.

          19.    The parties agree that, in the event of any litigation respecting a breach of this Agreement, the prevailing party shall be entitled to recover its court costs and reasonable attorneys’ fees from the other party.

          20.    Nothing contained in this Agreement shall be deemed to release, limit or restrict Kuhl’s rights under the health care continuation coverage provisions under ERISA (COBRA).

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          21.    No modification or amendment of, or waiver under, this Agreement shall be valid unless in writing and signed by Kuhl and the Chairman of the Company.

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

          23.    This Agreement shall be binding upon Kuhl and her heirs, executors, administrators, personal representatives and assigns, and shall inure to the benefit of each of the Released Parties and their respective heirs, executors, administrators, personal representatives, successors and assigns.

          24.    Kuhl reserves the right to revoke this Agreement during the period of seven (7) days following the execution of this Agreement by Kuhl by delivering written notice of revocation to the Company during said seven (7) day period.  This Agreement shall not become effective or enforceable until such seven (7) day revocation period has expired.  In the event of any such revocation, Kuhl shall be deemed to have irrevocably forfeited any right she may have to receive the Termination Benefits.

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

	
  
 
  	
  
EMPLOYEE:
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date Executed:    May 15, 2006
  	
  
 
  	
  
/s/ Barbara J. Kuhl
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
 
  	
  
Barbara J. Kuhl
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
FIRST   BUSEY CORPORATION
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date Executed:    May 15, 2006
  	
  
By
  	
  
/s/ Douglas C. Mills
  
	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
 
  	
  
Its Chairman and Chief Executive Officer
  

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SCHEDULE A
  TO 
 FORM OF  RESIGNATION AND GENERAL RELEASE

ACCRUED BENEFITS:

The following accrued but unpaid employment benefits:

          (a)          any
accrued and vested rights under the Company ESOP, the Company’s 401(k) plan
the Company’s deferred compensation plan and the Company’s stock
option plans; and

          (b)          any
accrued salary.

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