Document:

EXHIBIT 10.1

MB FINANCIAL, INC.

1997 OMNIBUS INCENTIVE PLAN

INCENTIVE STOCK OPTION AGREEMENT

ISO NO. ________

         This option, intended to qualify as an Incentive Stock Option under Section 422 of
the Internal Revenue Code of 1986, as amended, is granted as of ____________ by MB
Financial, Inc. (the "Company") to ______________ (the "Optionee"), in accordance with
the following terms and conditions:

         1.  Option Grant and Exercise Period.  The Company hereby grants to the
Optionee an Option (this "Option") to purchase, pursuant to the MB Financial, Inc. 1997
Omnibus Incentive Plan, as the same may from time to time be amended (the "Plan"), and
upon the terms and conditions therein and hereinafter set forth, an aggregate of
__________ shares (the "Option Shares") of the Common Stock, par value $.01 per share
("Common Stock"), of the Company at the price of $_______ per share (the "Exercise
Price").  A copy of the Plan, as currently in effect, is incorporated herein by reference, and
either is attached hereto or has been delivered previously to the Optionee. Capitalized
terms used but not otherwise defined in this Agreement shall have the meanings ascribed
to them in the Plan.

         Except as set forth in Section 5 below with respect to the death of the Optionee,
this Option shall be exercisable only during the period (the "Exercise Period")
commencing on ____________ and ending at 5:00 p.m., Chicago, Illinois time, on
_______________, such later time and date being hereinafter referred to as the
"Expiration Date."  

         During the Exercise Period, this Option shall be exercisable in whole at any time
or in part from time to time subject to the provisions of this Agreement.  In the event this
Option or any portion thereof fails to qualify as an Incentive Stock Option for any reason
whatsoever, this Option or such portion thereof shall automatically be deemed a Non-Qualified Stock Option.  For example, to the extent that this Option or any portion thereof
becomes or remains exercisable after the expiration of three months following the
Optionee's termination of employment (other than by reason of death with respect to that
portion of this Option that is exercisable at time of death), this Option shall no longer
qualify as an Incentive Stock Option but shall deem to be a Non-Qualified Stock Option
for tax purposes.

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         2.  Method of Exercise of This Option.  This Option may be exercised during the
Exercise Period by providing written notice to the Chief Financial Officer of the
Company specifying the number of Option Shares to be purchased.  The notice must be in
the form prescribed by Section 6.6 of the Plan.  The date of exercise is the date on which
such notice is received by the Company.  Such notice must be accompanied by payment
in full of the aggregate Exercise Price for the Option Shares to be purchased upon such
exercise.  Payment shall be made (i) in cash or its equivalent, (ii) by tendering previously
acquired shares of Common Stock having an aggregate fair market value at the time of
exercise equal to the aggregate Option Price, or (iii) by a combination of (i) and (ii).  In
addition, the Company may establish a cashless exercise program in accordance with
Federal Reserve Board Regulation G.  Promptly after such payment, subject to Section 3
below, the Company shall issue and deliver to the Optionee or other person exercising
this Option (pursuant to Section 6.8(a) of the Plan in the event of the death of the
Optionee) a certificate or certificates representing the shares of Common Stock so
purchased, registered in the name of the Optionee (or such other person), or, upon
request, in the name of the Optionee (or such other person) and in the name of another
jointly with right of survivorship.

         3.  Delivery and Registration of Shares of Common Stock.  The Company's
obligation to deliver shares of Common Stock hereunder shall, if the Committee so
requests, be conditioned upon the receipt of a representation as to the investment
intention of the Optionee or any other person to whom such shares are to be delivered
pursuant to Section 6.8(a) of the Plan in the event of the death of the Optionee, in such
form as the Committee shall determine to be necessary or advisable to comply with the
provisions of the Securities Act of 1933, as amended (the "Securities Act"), or any other
Federal, state or local securities law or regulation.  In requesting any such representation,
it may be provided that such representation requirement shall become inoperative upon a
registration of such shares or other action eliminating the necessity of such representation
under the Securities Act or other securities law or regulation.  The Company shall not be
required to deliver any shares upon exercise of this Option prior to (i) the admission of
such shares to listing on any stock exchange or system on which the shares of Common
Stock may then be listed, and (ii) the completion of such registration or other
qualification of such shares under any state or Federal law, rule or regulation, as the
Committee shall determine to be necessary or advisable.

         4.  Non-transferability of This Option.  This Option may not be assigned,
encumbered, or transferred except, in the event of the death of the Optionee, by will or
the laws of descent and distribution to the extent provided in Section 5 below.  This
Option is exercisable during the Optionee's lifetime only by the Optionee.  The provisions
of this Option shall be binding upon, inure to the benefit of and be enforceable by the
parties hereto, the successors and assigns of the Company and any person to whom this
Option is transferred by will or by the laws of descent and distribution.

         5.  Termination of Employment.  This Option expires upon a termination of
Optionee's employment for cause.  If the Optionee is terminated for cause, all rights
under this Option shall expire immediately upon the giving to the Optionee of notice of
such termination.

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         Except as otherwise provided below, if the Optionee's employment is
involuntarily terminated without cause, or voluntarily terminates for Good Reason (as
defined in any change in control, severance or employment agreement between the
Optionee and the Company which is in effect immediately prior to such employment
termination), this Option shall continue to vest; provided in such case all rights under this
Option (except in the case of death) shall expire on the later of one year after (a) the
vesting date or (b) the date of employment termination, but in no event later than the
Expiration Date.

         If the Optionee voluntarily terminates employment for any reason other than
death, Good Reason, a Pre-Age 65 Service Retirement (as defined below), a Retirement
(as defined below) or a Post-Age 65 Service Retirement (as defined below), then the
Optionee shall have ninety (90) days after such termination of employment to exercise
this Option to the extent it is otherwise exercisable on the date of employment
termination; provided this Option shall only be exercisable during the Exercise Period.

         If the Optionee's employment is voluntarily or involuntarily terminated other than
for cause or death prior to age 65 and the Optionee's age plus years of service is equal to
or greater than ninety (90) ("Pre-Age 65 Service Retirement"), this Option shall continue
to vest.  All rights under this Option will then expire one (1) year after the later of (a) the
vesting date or (b) the date of the Pre-Age 65 Service Retirement, but in no event later
than the Expiration Date.

         If the Optionee's employment is voluntarily or involuntarily terminated other than
for cause or death on or after age 65 and the Optionee's age plus years of service is less
than ninety (90) (a "Retirement"), then this Option to the extent not otherwise exercisable
shall become immediately exercisable and shall remain exercisable for a period of one
year after Retirement, but in no event later than the Expiration Date.

                  If the Optionee's employment is voluntarily or involuntarily terminated other than
for cause or death on or after age 65 and the Optionee's age plus years of service is equal
to or greater than ninety (90) ("Post-Age 65 Service Retirement"), then this Option to the
extent not otherwise exercisable shall become exercisable and shall remain exercisable
until the later of (a) one year after the date of the Post-Age 65 Service Retirement or (b)
one year after the date this Option would have become exercisable (the vesting date) had
its exercise not been accelerated, but in no event later than the Expiration Date.

         In the event of the death of the Optionee while employed by the Company or
following any of an involuntary termination of employment without cause, a termination
of employment for Good Reason, a Pre-Age 65 Service Retirement, a Retirement or a
Post-Age 65 Service Retirement but prior to the date this Option would otherwise expire,
then in any such event the person to whom the Option has been transferred by will or by
the laws of descent and distribution may exercise this Option at any time within one year
following the death of the Optionee, but in no event after the Expiration Date.

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         Nothing herein is intended to diminish the rights of the Optionee under the Plan if
the Optionee's employment is terminated due to Disability.

         6.  Notice of Sale.  The Optionee or any person to whom this Option or the Option
Shares shall have been transferred by will or by the laws of descent and distribution
promptly shall give notice to the Company in the event of the sale or other disposition of
Option Shares within the later of (i) two years from the date of grant of this Option or (ii)
one year from the date of exercise of this Option.  Such notice shall specify the number of
Option Shares sold or otherwise disposed of and be directed to the address set forth in
Section 10 below.

         7.  Adjustments for Changes in Capitalization of the Company.  In the event of
any merger, reorganization, consolidation, recapitalization, separation, liquidation, stock
dividend, split up, share combination or other change in the corporate structure of the
Company affecting the outstanding shares of Common Stock of the Company, then the
number and class of Option Shares covered by this Option and the Exercise Price shall be
appropriately and equitably adjusted by the Committee, whose determination shall be
conclusive; provided that the number of Option Shares subject to this Option shall always
be a whole number.

         8.  Effect of Change in Control.  A Change in Control of the Company or any of
its Affiliates shall not accelerate the vesting of this Option or in any other manner affect
this Option.

         9.  Shareholder Rights Not Granted by This Option.  The Optionee is not entitled
by virtue hereof to any rights of a shareholder of the Company or to notice of meetings of
shareholders or to notice of any other proceedings of the Company. 

         10.  Withholding Tax. The Company shall have the power and the right to deduct
or withhold, or require the Optionee to remit to the Company, an amount sufficient to
satisfy federal, state and local taxes (including the Optionee's FICA and medicare
obligations) required by law to be withheld with respect to any grant, exercise, or
payment with respect to any of the Option Shares.

         11.  Notices.  All notices hereunder to the Company shall be delivered or mailed
to it addressed to the Secretary of MB Financial, Inc., 6111 North River Road,
Rosemont, Illinois 60018.  Any notices hereunder to the Optionee shall be delivered
personally or mailed to the Optionee's address noted below.  Such addresses for the
service of notices may be changed at any time provided written notice of the change is
furnished in advance to the Company or to the Optionee, as the case may be.

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         12.  Plan and Plan Interpretations as Controlling.  This Option and the terms and
conditions herein set forth are subject in all respects to the terms and conditions of the
Plan, which are controlling.  All determinations and interpretations of the Committee
shall be binding and conclusive upon the Optionee or his legal representatives with regard
to any question arising hereunder or under the Plan.

         13.  Optionee Service.  Nothing in this Option shall limit the right of the Company
or any of its Affiliates to terminate the Optionee's service as an officer or employee, or
otherwise impose upon the Company or any of its Affiliates any obligation to employ or
accept the services of the Optionee.

         14.  Optionee Acceptance.  The Optionee shall signify his acceptance of the terms
and conditions of this Option by signing in the space provided below and returning a
signed copy hereof to the Company at the address set forth in Section 10 above.  

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         IN WITNESS WHEREOF, the parties hereto have caused this INCENTIVE
STOCK OPTION AGREEMENT to be executed as of the date first above written.

		MB FINANCIAL, INC.

Jill E. York

Vice President and Chief Financial Officer

	Attested By:
		ACCEPTED:

	
Doria L. Koros
Corporate Secretary	
Name of Grantee

(Street Address)

(City, State and Zip Code)

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MB FINANCIAL, INC.

1997 OMNIBUS INCENTIVE PLAN

DIRECTOR NON-QUALIFIED STOCK OPTION AGREEMENT

NQSO NO. ________

         This option is granted as of _________ by MB Financial, Inc. (the "Company") to
_____________________ (the "Optionee"), in accordance with the following terms and
conditions:

         1.  Option Grant and Exercise Period.  The Company hereby grants to the Optionee an
Option (the "Option") to purchase, pursuant to the MB Financial, Inc. 1997 Omnibus Incentive
Plan, as the same may from time to time be amended (the "Plan"), and upon the terms and
conditions therein and hereinafter set forth, an aggregate of __________ shares (the "Option
Shares") of the Common Stock, par value $.01 per share ("Common Stock"), of the Company at
the price (the "Exercise Price") of $________ per share.  A copy of the Plan, as currently in
effect, is incorporated herein by reference, and either is attached hereto or has been delivered
previously to the Optionee.  Capitalized terms used but not otherwise defined in this Agreement
shall have the meanings ascribed to them in the Plan.

         Except as set forth in Section 5 below with respect to the death of the Optionee, this Option shall
be exercisable only during the period (the "Exercise Period") commencing on _________ and
ending at 5:00 p.m., Chicago, Illinois time, on the date five years after the date of grant of this
Option, such later time and date being hereinafter referred to as the "Expiration Date." This
Option is 100% vested.

         During the Exercise Period, this Option shall be exercisable in whole at any time or in
part from time to time subject to the provisions of this Agreement.

         2.  Method of Exercise of This Option.  This Option may be exercised during the Exercise
Period by providing written notice to the Chief Financial Officer of the Company specifying the
number of Option Shares to be purchased.  The notice must be in the form prescribed by Section
6.6 of the Plan.  The date of exercise is the date on which such notice is received by the
Company.  Such notice must be accompanied by payment in full of the aggregate Exercise Price
for the Option Shares to be purchased upon such exercise.  Payment shall be made either (i) in
cash or its equivalent, (ii) by tendering previously acquired shares of Common Stock having an
aggregate Fair Market Value as of the date of exercise equal to the aggregate Exercise Price, or
(iii) a combination of (i) and (ii).  In addition, the Company may establish a cashless exercise
program in accordance with Federal Reserve Board Regulation G.  Promptly after such payment,
subject to Section 3 below, the Company shall issue and deliver to the Optionee or other person
exercising this Option (to whom this Option may have been transferred pursuant to Section 4 of
this Agreement) a certificate or certificates representing the shares of Common Stock so
purchased, registered in the name of the Optionee (or such other person), or, upon request, in the
name of the Optionee (or such other person) and in the name of another jointly with right of
survivorship.

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         3.  Delivery and Registration of Shares of Common Stock.  The Company's obligation to
deliver shares of Common Stock hereunder shall, if the Committee so requests, be conditioned
upon the receipt of a representation as to the investment intention of the Optionee or any other
person to whom such shares are to be delivered, in such form as the Committee shall determine
to be necessary or advisable to comply with the provisions of the Securities Act of 1933, as
amended (the "Securities Act"), or any other Federal, state or local securities law or regulation.
In requesting any such representation, it may be provided that such representation requirement
shall become inoperative upon a registration of such shares or other action eliminating the
necessity of such representation under the Securities Act or other securities law or regulation.
The Company shall not be required to deliver any shares upon exercise of this Option prior to (i)
the admission of such shares to listing on any stock exchange or system on which the shares of
Common Stock may then be listed, and (ii) the completion of such registration or other
qualification of such shares under any state or Federal law, rule or regulation, as the Committee
shall determine to be necessary or advisable.

         4.  Transferability of This Option.  This Option may not be assigned, encumbered, or
transferred except, (i) in the event of the death of the Optionee, by will or the laws of descent and
distribution to the extent provided in Section 5 below, (ii) pursuant to a qualified domestic
relations order (a "QDRO") as defined in the Internal Revenue Code of 1986, as amended (the
"Code") or Title I of the Employee Retirement Income Security Act of 1974, as amended
("ERISA") or the rules thereunder or (iii) by the Optionee, by gift to any member of the
Optionee's "immediate family" (as such term is defined in the Plan as in effect on the date of the
grant of this Option) or to a trust for the benefit of one or more of such immediate family
members.  This Option is exercisable during the Optionee's lifetime only by the Optionee unless
this Option is transferred as permitted by this Section 4.  

         In the event this Option is transferred as permitted by this Section 4, the person to whom
this Option has been transferred (a "Transferee")may exercise this Option to the extent this
Option would have been exercisable by the Optionee if the Option were not so transferred.  The
provisions of this Option shall be binding upon, inure to the benefit of and be enforceable by the
parties hereto, the successors and assigns of the Company and any Transferee.

         5.  Termination of Service or Death of the Optionee.  Except as hereinafter provided in
this Section 5 and notwithstanding any other provision of this Option to the contrary, this Option
shall not be exercisable unless the Optionee, at the time he or any Transferee exercises this
Option, is then serving as a Director.

         If the Optionee ceases service as a Director for any reason other than for Cause, the
Optionee or any Transferee may, but only within the one year period following such cessation of
service and in no event after the Expiration Date, exercise this Option to the extent the Optionee
or Transferee was entitled to exercise this Option on the date of his cessation of service as a
Director.  If the Optionee is terminated for Cause, all rights under this Option shall expire
immediately upon the giving to the Optionee of notice of such termination.

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         In the event of the death of the Optionee during the one year exercise period referred to in
the immediately preceding paragraph, the person to whom the Option has been transferred
pursuant to Section 4 of this Agreement (whether (i) by will or the laws of descent and
distribution, if this Option was not transferred by the Optionee prior to the Optionee's death, (ii)
pursuant to a QDRO, during the Optionee's lifetime, or (iii) by gift, during the Optionee's
lifetime) may, but only to the extent the Optionee or such Transferee was entitled to exercise this
Option immediately prior to the Optionee's death, exercise this Option at any time within one
year following the death of the Optionee. 

         6.  Adjustments for Changes in Capitalization of the Company.  In the event of any
merger, reorganization, consolidation, recapitalization, separation, liquidation, stock dividend,
split up, share combination or other change in the corporate structure of the Company affecting
the shares, an adjustment shall be made in the number and class of shares which may be
delivered under the Plan, and in the number and class of and/or price of shares covered by this
Option as may be determined to be appropriate and equitable by the Committee, in its sole
discretion, to prevent dilution or enlargement of rights; and provided that the number of shares
subject to this Option shall always be a whole number.

         7.  Effect of Change in Control.  Upon a "Change in Control" (as defined in the Plan as in
effect on the date of the grant of this Option) this Option shall (to the extent it is not then
exercisable) become exercisable in full; provided, however, that the provisions of this Section 7
shall not be deemed to cause this Option to be exercisable to the extent it has previously been
exercised or otherwise terminated.

         8.  Shareholder Rights Not Granted by This Option.  The Optionee is not entitled by
virtue hereof to any rights of a shareholder of the Company or to notice of meetings of
shareholders or to notice of any other proceedings of the Company. 

         9.  Withholding Tax. The Company shall have the power and the right to deduct or
withhold, or require the Optionee to remit to the Company, an amount sufficient to satisfy
Federal, state and local taxes (including the Optionee's FICA obligation) required by law to be
withheld with respect to any grant, exercise, or payment made under or as a result of this Plan.

         10.  Notices.  All notices hereunder to the Company shall be delivered or mailed to it
addressed to the Secretary of MB Financial, Inc., 6111 North River Road, Rosemont, Illinois
60018.  Any notices hereunder to the Optionee shall be delivered personally or mailed to the
Optionee's address noted below.  Such addresses for the service of notices may be changed at any
time provided written notice of the change is furnished in advance to the Company or to the
Optionee, as the case may be.

         11.  Plan and Plan Interpretations as Controlling.  This Option and the terms and
conditions herein set forth are subject in all respects to the terms and conditions of the Plan,
which are controlling.  All determinations and interpretations of the Committee shall be binding
and conclusive upon the Optionee, Transferee or his legal representatives with regard to any
question arising hereunder or under the Plan.

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         12.  Optionee Service.  Nothing in this Option shall limit the right of the Company or any
of its Affiliates to terminate the Optionee's service as a Director, officer or employee, or
otherwise impose upon the Company or any of its Affiliates any obligation to employ or accept
the services of the Optionee.

         13.  Optionee Acceptance.  The Optionee shall signify his acceptance of the terms and
conditions of this Option by signing in the space provided below and returning a signed copy
hereof to the Company at the address set forth in Section 10 above.  

         IN WITNESS WHEREOF, the parties hereto have caused this DIRECTOR NON-QUALIFIED STOCK OPTION AGREEMENT to be executed as of the date first above written.

		MB FINANCIAL, INC.

Mitchell Feiger

President and Chief Executive Officer

	Attested By:
		ACCEPTED:

	
Doria L. Koros
Corporate Secretary	 

(Street Address)

(City, State and Zip Code)

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