Document:

WTBA 2011.08.31 Exhibit 10.1

Exhibit 10.1

UNITED STATES DEPARTMENT OF THE TREASURY
1500 Pennsylvania Avenue, NW
Washington, D.C. 20220
August 31, 2011
Ladies and Gentlemen:
Reference is made to that certain letter agreement (the “Repurchase Letter Agreement”), dated as of the date set forth on Schedule A hereto, between the United States Department of the Treasury (the “Investor”) and the company set forth on Schedule A hereto (the “Company”).  Capitalized terms used but not defined herein shall have the meanings assigned to them in the Repurchase Letter Agreement.
As documented by the Repurchase Letter Agreement, the Company has completed the repurchase from the Investor of all of the Preferred Shares issued to the Investor pursuant to the Securities Purchase Agreement.  Following such time, the Company delivered a Warrant Repurchase Notice dated as of the date set forth on Schedule A hereto to the Investor.  In connection with the consummation, on the date hereof, of the repurchase of the Warrant by the Company from the Investor, as contemplated by the Warrant Repurchase Notice and Section 4.9 of the Securities Purchase Agreement:
(a)    The Company hereby acknowledges receipt from the Investor of the Warrant; and
(b)    The Investor hereby acknowledges receipt from the Company of a wire transfer to the account of the Investor set forth on Schedule A hereto in immediately available funds of the aggregate purchase price set forth on Schedule A hereto, representing payment in full for the Warrant, determined in accordance with Section 4.9 of the Securities Purchase Agreement.
This letter agreement will be governed by and construed in accordance with the federal law of the United States if and to the extent such law is applicable, and otherwise in accordance with the laws of the State of New York applicable to contracts made and to be performed entirely within such State.
This letter agreement may be executed in any number of separate counterparts, each such counterpart being deemed to be an original instrument, and all such counterparts will together constitute the same agreement.  Executed signature pages to this letter agreement may be delivered by facsimile and such facsimiles will be deemed sufficient as if actual signature pages had been delivered.

[Remainder of this page intentionally left blank]

In witness whereof, the parties have duly executed this letter agreement as of the date first written above.

             	
		
	 
	UNITED STATES DEPARTMENT OF

	 
	THE TREASURY

	 
	 

	 
	 

	 By:
	/s/ Matthew Pendo

	 
	Name: Matthew Pendo

	 
	Title: Chief Investment Officer

             	
		
	 
	COMPANY: West Bancorporation, Inc.

	 
	 

	 
	 

	 By:
	/s/ Douglas R. Gulling

	 
	Name: Douglas R. Gulling

	 
	Title: Executive Vice President and Chief Financial Officer

    

                    

SCHEDULE A
Company Information:
Name of the Company: West Bancorporation, Inc.
Corporate or other organizational form of the Company: Corporation
Jurisdiction of organization of the Company: State of Iowa
Information related to the Preferred Share Repurchase:
Date of Repurchase Letter Agreement for the repurchase of 36,000 of the Preferred Shares:  June 29, 2011
Terms of the Warrant Repurchase:
Date of Warrant Repurchase Notice: August 23, 2011
Aggregate purchase price for the Warrant: $700,000.00
	
		
	Investor wire information for payment of purchase price for the Warrant:
	ABA Number: XXXXXX
Bank: XXXXXX
Account Name: XXXXXX
Account Number: XXXXXXTranslation of Form of Internet Marketing Service Agreement

 Exhibit 4.12 
 Portions of the referenced exhibit have been redacted. Confidential treatment has been requested with respect to certain portions of this exhibit. The redacted portions have been separately filed with the
U.S. Securities and Exchange Commission. 
 REDACTED PORTIONS ARE MARKED BY “***” 

English Translation 
 FORM OF INTERNET MARKETING SERVICE AGREEMENT 
  

			
	Party A:	  	FAW Mazda Motor Sales Co., Ltd. (“FAWMazda”)
	Party B:	  	Beijing Bitauto Internet Information Company Limited (“BBII”)
	Party C:	  	Beijing C&I Advertising Company Limited (“CIG”)

 Party A, Party B and Party C hereby enter into the following agreement (“Agreement”)
with respect to the Internet marketing services that Party A intends to source to Party B and Party C. 
 ARTICLE 1

 SCOPE OF INTERNET MARKETING SERVICES 
 The Internet marketing services shall include the following: 

1.1 Party B shall provide Party A with website creation and maintenance services. See Article 2 for details;

 1.2 Party B shall provide Party A with Internet public relation services. See Article 3 for details;

 1.3 Party B shall provide Party A with regional Internet marketing support services. See Article 4 for
details; 
 1.4 Party B shall provide Party A with Internet user database management services. See
Article 5 for details; and 
 1.5 Party C shall provide Party A with Internet advertising
services. See Article 6 for details. 
 ARTICLE 2 

WEBSITE CREATION AND MAINTENANCE SERVICES 
 Details of such services shall be set forth in the relevant website creation and maintenance agreements to be entered into between Party B and the Department of General Administration and Human Resources
of Party A. 
 ARTICLE 3 
 INTERNET PUBLIC RELATION SERVICES 
 3.1 Scope of Online
Public Relation Services  
 The Internet public relation services to be provided by Party B to Party A shall include
Daily Promotion services and online campaigns services. 
 3.2 Daily Promotion Services  

The Daily Promotion services shall include developing overall strategies and plans for online public relations and promotions; issuing
press releases on the Internet; managing online public relation crises; managing and developing relationships with Internet media; monitoring the Internet content and public relation crises; maintaining vehicle model information, Internet forums and
comments; and submitting summary reports on the Daily Promotion services provided. 
 3.3 Online Campaign
Services  
 1) Online campaigns shall include marketing campaigns launched independently and other marketing or
promotional activities that need cooperation on the Internet. 
 2) Party B shall provide a detailed proposal for each
Online campaign. The proposal shall set forth the theme, purpose, content, process and budget of each campaign and support needed for the campaign. 

 3) The online campaign proposal shall be approved by Party A before implementation.

 4) The campaign shall be organized and implemented by Party B. 

5) Based on the project needs, Party B shall draft press releases for the campaigns and publish such press releases on the Internet
media. 
 6) Party B shall plan, design, prepare and organize materials for the online campaign activities. Product
information used in such online campaign activities shall be accurate and fluent. 
 7) Party A shall provide the necessary
support for online activities and shall coordinate Party B with other service providers of Party A. 
 8) During the
implementation of online campaigns, Party B shall keep Party A updated of the implementation progress and any changes. 

9) Expenses related to online campaigns shall be separately agreed upon. Party A agrees to pay Party B *** of the budget of each
online activity as the implementation service fee. 
 3.4 Payment of Internet Public Relation Fees 

 1) Payment of Daily Promotion service fees 

a) Daily Promotion service fees shall be incorporated into the Internet advertising service fees that Party A pays to
Party C pursuant to Subsection 8 of Article 6 and shall be paid by Party C to Party B. Party A shall not make separate payment to Party B with regard to Daily Promotion service fees. 

2) Payment of Online Campaign fees 
 a) Within ten days after the end of each campaign, Party B shall provide Party A summary report on the project, summary report on fees and expenses, and official invoices. Within four days after
receiving such documents, Party A shall confirm such reports and submit to its finance department to process. Party A shall make full payment to Party B within *** after Party A’s finance department approves such fees and expenses. 

b) At the request of Party A, the out-of-town traveling expenses incurred by Party B in connection with organizing
online campaigns or attending marketing meetings for Party A shall be paid together with the payment of campaign costs or periodically as agreed upon. The fixed allowance is *** per person per day (including boarding, meals, telecommunication, local
travel and other expenses). Travel expenses shall be reimbursed as actually incurred. Travel by air shall be limited to economy class. Travel expenses shall include airport construction fee, insurance and fuel surcharge. The number of days used to
calculate out-of-town allowances shall commence from the date of hotel check-in. Same-day trip counts as one day. No third party invoices are needed. 
 3) Payment of Commercial Taxes 
 a) Party A shall be
responsible for commercial taxes in the amount of 5% of the total project cost (agency service fee included). 
 ARTICLE 4

 REGIONAL INTERNET MARKETING SUPPORT SERVICES 
 1. Party B shall form regional Internet marketing teams and assign a regional Internet marketing manager (“Regional Manager”) for each regional market to assist Party A with its regional
marketing efforts. 
 2. Regional Manager shall be appointed by Party B. Party A shall have right to request Party B to
change the Regional Manager if Party A is not satisfied with his/her services. 
 3. Party B shall provide to the following
regional Internet marketing support services: 
 1) general strategic planning for regional markets; 

2) strategic planning of Internet public relations and daily promotion services for regional markets; 

3) execution of Internet public relations and daily promotion services for regional markets; 

 4) planning of public relation events for regional markets; 

5) execution and management of public relation events for regional markets; 

6) training on Internet marketing for regional dealers; and 

7) other support and implementation services related to Internet marking in regional markets. 

4. Regional Internet marketing service fee 
 1) Regional Internet marketing service fee shall be incorporated into the Internet advertising service fee to be paid by Party A to Party C as set forth in Article 6 subsection 8 hereof and
shall be paid by Party C to Party B. Party A shall not make separate payment to Party B with regard to the regional Internet marketing service fee. 
 ARTICLE 5 
 INTERNET USER DATABASE MANAGEMENT SERVICES 

1. Party B shall collect data on Internet users through Party A’s Internet marketing activities and shall manage such data.

 2. Specific database management services shall include: 

1) planning of Internet user database management and maintenance system; 

2) development of the hardware and software infrastructures for the Internet user database; 

3) security of Internet user database; 
 4) collection, consolidation, analysis and categorization of Internet user data; 
 5) maintenance of Internet user database, including its review, selection and update; 
 6) targeted utilization of the Internet user database in Party A’s Internet marketing campaigns; and 
 7) providing periodic report timely upon request from Party A. 

3. Party B shall manage the Internet user database on Party A’s behalf. Party A shall have ownership over such database. Party
A may inspect and use the Internet user database at any time. 
 4. Internet user database management service fee

 1) Internet user database management service fee shall be incorporated into the Internet advertising
service fee to be paid by Party A to Party C as set forth in Article 6 subsection 8 hereof and shall be paid by Party C to Party B. Party A shall not make separate payment to Party B with regard to the Internet user database management service
fee. 
 ARTICLE 6 
 INTERNET ADVERTISING AGENCY SERVICES TO BE PROVIDED BY PARTY C TO PARTY A 

1. Internet advertising agency services shall include: 
 1) Internet advertising strategy and advertisements placement plans; 

2) purchase Internet advertising resources; 
 3) creation, designing and production of Internet advertisements; 

4) placement, monitoring and archiving screen copies of Internet advertisements; 

5) result analysis on Internet advertisements; and 
 6) planning, production, updates and maintenance of the webpage linked to Internet advertisements. 

 2. Internet advertising strategy and advertisements placement plans 

According to the general marketing plan and market activity arrangement of Party A and taking into consideration the special
characteristics of Internet marketing, Party C shall provide Internet advertising strategy and advertisements placement plans for Party A. 
 3. Purchase Internet advertising resources 
 1) Party A shall authorize
Party C to purchase all the Internet advertising resources on its behalf; and 
 2) Party C agrees to advance the
expenses for purchasing the Internet advertising resources for Party A. 
 4. Creation, designing and production of
Internet advertisements 
 1) Party C shall create, design and produce Internet advertisements and prepare
literary works according to the Internet advertising implementation proposal; 
 2) Internet advertisements
shall be reviewed and approved by Party A before release; and 
 3) The copyright of the Internet
advertisements approved and used by Party A shall belong to Party A. The copyright of the Internet advertisements rejected by Party shall belong to Party C. 
 5. Placement, monitoring and screenshots of Internet advertisements 
 1) All Party A’s advertisements shall be placed by Party C on Party A’s behalf; 
 2) Party C shall be responsible for reviewing the Internet advertisements placed and the effectiveness of hyperlinks; 

3) Party C shall provide to Party A Internet advertisement monitoring summary on every business day; and

 4) Party C shall be responsible for archiving screen copies of scheduled Internet advertisements.

 6. Result analysis on Internet advertisements 

1) Party C shall analyze and summarize the placements of Internet advertisements and shall conduct statistical
analysis on page views, clicks, click rates, click costs, page view costs and other data. 
 2) Party C
shall submit monthly and annual reports on the above-mentioned items to Party A. Monthly reports shall be submitted within the first 10 business days of the following month. Annual reports shall be submitted within the first 10 business days of the
following year. 
 7. Planning, developing, updating and maintaining the webpage linked to Internet advertisements

 1) Party C shall plan, develop, update and maintain the content of web pages linked to the Internet
advertisements placed on Party A’s behalf. 
 2) Party C shall ensure that the content of the web pages
mentioned above be accurate and fluent. 
 8. Internet Advertising Fee 

1) Party A shall pay Party C the purchase costs of Internet advertising resources, Internet advertising service fee
and service taxes. 

 2) The Internet advertising service fee shall be calculated as follows.

  

					
	  	 	 Fee Components
	 	 Fee Standard

	A. Service Fee	 	 •        Service fees for Internet advertising
strategy and placement planning, and implementation planning;
	 	*** of the total value of the Internet advertisements actually placed
		 	  

•        Service fees for the creation, designing and production of
Internet advertisements;
	 
		 	  

•        Service fees for placements of Internet
advertisements;
	 
		 	  

•        Service fees for monitoring Internet advertisements and
reports generation;
	 
			
		 	 •        Service fees for Internet public relation and daily
promotions;
	 	
			
		 	 •        Regional Internet marketing support service fee; and
	 	
			
		 	 •        Internet user database management and maintenance fees.
	 	
			
	B. Taxes	 	A*8.5%	 	0.85% of the total value of the Internet advertisements actually placed
			
	Total	 	A+B	 	*** of the total value of the Internet advertisements actually placed

 3) Expenses advanced by Party C for purchasing Internet advertising resources and
placing Internet advertisements shall be cleared on a monthly basis. Within 10 business days after the end of each Internet advertisement placement, Party C shall submit screen copy reports and invoices to Party A. Party A shall pay such expenses
within *** after approving such reports and invoices. 
 9. Internet Advertising Agency Services Assessment 

1) If Party C fails to provide services according to the placement plan and requirements, Party A shall have right to
request Party C to compensate Party A’s losses with resources or services of equivalent value. 

2) Party A entrusts Party C to purchase all the Internet adverting resources on its behalf. If, regarding the same
Internet advertising resources, Party A can prove that purchase price can be lower than Party C’s quoted price, such purchase shall be made at the purchase price provided by Party A. 

3) If Party C fails to timely provide Party A the monthly and annual Internet advertising summary reports, Party A
shall have right to deduct no more than *** from Party A’s payments to Party C. 
 4) If there are
inaccurate information or major mistakes in the web pages linked to the Internet advertisements designed by Party C, Party A shall have right to deduct no more than *** from Party A’s payments to Party C. 

5) If Party C fails to provide relevant screen copy reports when Party A confirms there are no mistakes in the
advertisement placements, Party A shall have right to deduct 5% to 50% of the agency service fees for that project. 

ARTICLE 7 

SERVICE TEAM 
 1. Party B and Party C shall form independent service teams to coordinate and implement the Internet marketing services. 
 2. Party B and Party C shall ensure the stability of their service teams and make sure that the team members provide and implement relevant services during the term of the Agreement. 

 3. Party A shall designate a contact person to assist Party B and Party C with the
relevant Internet marketing tasks. 
 ARTICLE 8 
 TERM OF SERVICES 
 1. The term of the Agreement shall be one year,
from January 1, 2011 to December 31, 2011. 
 2. Upon the expiration of the term of services, unless any of the
three Parties objects, the Agreement will be automatically extended for one more term. 
 ARTICLE 9 

NON-COMPETE CLAUSE 
 1. During the term of this Agreement, Party B and Party C shall not provide the same services set forth in this Agreement to any other automakers that directly compete with Party A absent consent
from Party A. 
 2. During the term of this Agreement, absent consent from Party B or Party C, Party A shall not source
part or all of the services set forth in Article 1 from any other companies unless the following occurs: 

1) The services provided by Party B and Party C fail to meet the requirements of Party A and continue to fail to meet
Party A’s requirements upon Party A’s formal request for improvement; or 
 2) Significant
losses are caused to Party A due to the material breach of contract by Party B or Party C. 
 ARTICLE 10 

CONFIDENTIALITY 
 1. In the course of providing services, any confidential information exchanged or disclosed to the other parties shall be marked “Confidential” by the Party providing the confidential
information. The Party receiving such information shall limit the access to such information only to the relevant persons who need to understand the projects. 
 2. Without Party A’s consent, Party B and Party C shall not disclosed to any fourth party any information on the business operation and the internal management process of Party A that not
already available to the public. 
 ARTICLE 11 
 LIABILITY FOR BREACH OF CONTRACT 
 1. Party A, Party B and Party C
shall strictly comply with the Agreement and diligently fulfill their respective obligations. In the event of unilateral breach of contract, the breaching party shall be responsible for all the losses caused by such breach. 

2. Party B and Party C shall be responsible for the legality of any service and content details provided to Party A. Party B and
Party C shall be liable for any disputes or infringement claims by any fourth party except for those related to the services that Party A chooses to proceed with even after Party B and Party C advise Party A of the related legal risks. 

3. Unless set forth in this Agreement, Party B or Party C shall be solely liable for Party A’s losses caused by Party B or
Party C. 
 4. Party B or Party C shall be not be liable for any losses caused by force majeure except that Party B or
Party C shall provide written proof issued by relevant authorities. 

 ARTICLE 12 
 OTHERS 
 1. This Agreement shall be legally enforceable upon execution
and affixing seals by the representatives of the Parties. 
 2. This Agreement shall be executed in four official copies.
Party A shall hold two of such copies while Party B and Party C shall hold one of such copies respectively. All four copies shall have the same legal effect. 
 3. The People’s Court located in Party A’s jurisdiction shall have jurisdiction over disputes arising out of the Agreement. 

4. Any written documents, project list, appendix, copies and any supplemental agreements signed by the Parties, shall be treated as
an integral part of the Agreement. 
 5. The Parties hereto shall engage in friendly negotiation to resolve any issues not
covered herein. 
  

			
	Party A:	  	FAW Mazda Motor Sales Co., Ltd. (seal)
	Party B:	  	Beijing Bitauto Internet Information Company Limited (seal)
	Party C:	  	Beijing C&I Advertising Company Limited (seal)

 Confirmation Letter 
 Beijing Bitauto Internet Technology Company Limited, 
 Beijing C&I Advertising Company
Limited, 
 We hereby confirm that the “automakers that directly compete with [us]” set forth in the Internet
Marketing Service Agreement entered into between us and you each year means Guangzhou Toyota Automobile Company Limited, Guangzhou Honda Automobile Company Limited, Shanghai General Motors Co., Ltd. and Dongfeng Nissan Passenger Vehicle Company.

             FAW Mazda Motor Sales Co., Ltd.

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