Document:

exv10w1

Exhibit 10.1

February 18, 2009

Jim V. Ackerman

          Re: Retirement Confirmation (enhancements)

Dear Jim:

     As a follow-up to our discussions regarding the above-captioned matter, this letter confirms
that I will make the recommendation outlined herein to the Compensation Committee of the Company.
However, as indicated previously, the ultimate decision rests with the Board of Directors. They
will make the final decision after hearing the recommendation of the Compensation Committee. I
anticipate that you will have a decision from the board in connection with this recommendation I am
making following the next board meeting.

As previously stated to you, the company has already moved forward based on your intention to
retire this October. Therefore, whether or not the Board ultimately accepts my recommendation,
your retirement is effective October 31, 2009.

Additionally, whether or not my recommendation is accepted by the Compensation Committee and the
Board, the fact of the matter is that you are eligible independent of any additional agreement for
the regular retirement benefits afforded by the Company for a retiring executive.

The following is the recommendation I intend to make regarding your retirement

arrangement.

	 	1.	 	Mercer Forge will provide you with a twelve month consulting agreement.
Consistent with how we have treated other senior executives, you will be given a
contractual commitment which will require Merger Forge to pay you $10,000 per month
during this twelve month period. This arrangement could be cancelled prior to the
twelve month term in the event of your failure to perform to our reasonable
expectations.
	 
	 	2.	 	This consulting agreement would not require you to provide services for more
than 10 days in any one month. However, if by mutual agreement the parties agree to an
additional time over and above the ten days, then any additional day would be
compensable at a rate of $1,500 per day. Consulting services would be rendered by you
at your home, the Mercer office or other locations at the discretion of the company.
If you are required to travel outside of Mercer, the company will reimburse you for all
reasonable associated travel costs.
	 
	 	3.	 	During the period of your consultancy, you would additionally be reimbursed for gas,
insurance and normal maintenance costs while using your vehicle for company business.

 

 

	 	4.	 	The company will also reimburse you for other related company expenses
including reimbursement of company cell phone costs and any home office expenses that
the company requires you to incur in order to perform your duties as a consultant.
	 
	 	5.	 	In regard to the consulting agreement, you would be required to be a party to
an enforceable non-compete agreement for a period of one year following the termination
of the consulting agreement. This non-compete agreement would apply to competitors of
Mercer Forge. Additionally, you would be required to be a party to an enforceable
general release of claims and a non-disclosure agreement which would obligate you to
keep secret any information which is confidential or proprietary of the company
regardless of whether or not this information relates to Mercer exclusively. The
confidentiality provisions of this contract would run for a period of five years from
the date of the end of your consultancy.
	 
	 	6.	 	During the period of your consultancy, you would be allowed to continue to
serve as a representative of Mercer at the semi-annual FIA meeting.
	 
	 	7.	 	The supplemental agreement would remain the obligation of NEI and its successors
regardless of whether or not there is a change in control in the ownership and/or
leadership of the company.
	 
	 	8.	 	You have also agreed to train your successor not only during the three and four
months period prior to your retirement but additionally as needed during the
consultation period.
	 
	 	9.	 	The supplemental agreement would incorporate a standard general release which
has been utilized in other such agreements.
	 
	 	10.	 	The company would also agree that you (Jim Ackerman) would be allowed to
participate in the 2008 Mercer incentive bonus plan in place of your previously granted
participation in the NFI incentive bonus program. The 2008 incentive bonus payout of
approximately $170,000 will be deferred until your retirement date of October 31, 2009.
	 
	 	11.	 	The company would also agree that the bonus for you (Jim Ackerman) for 2009
would be guaranteed to be a minimum of $100,000 providing that 50% of the Mercer Plan
objective is met. This payment will be taxed and treated as salary earned during the
course of your regular employment.

 

 

So that we can continue to move forward on this project, I would appreciate it if you would sign
where indicated below, confirming your agreement with the terms and conditions outlined in this
letter and email back to me.

	 	 	 	 	 
	 	Sincerely,

Neenah Enterprises Inc.

 	 
	 	By  	/s/ Bob Ostendorf
 	 
	 	 	Bob Ostendorf 	 
	 	 	President, CEO 	 
	 

I agree to the terms and conditions outlined in this memo and further confirm that I understand
that the obligation of the company to comply with the terms outlined herein are subject to the
recommendation of the Compensation Committee and the approval of the Board of Directors.

	 	 	 	 	 
	/s/ Jim V. Ackerman
 

Jim V. Ackerman

	 	 
	 	Date February 24, 2009EX-10.1:

Exhibit 10.1

EIGHTH AMENDMENT TO CREDIT AGREEMENT

     THIS EIGHTH AMENDMENT TO CREDIT AGREEMENT dated as of May ___, 2009 (this “Amendment”), is
entered into by and between WINTRUST FINANCIAL CORPORATION (the “Borrower”) and BANK OF
AMERICA, N.A. successor by merger to LaSalle Bank National Association (in its individual capacity,
“Lender”).

RECITALS

     A. The Borrower and the Bank entered into that certain Credit Agreement dated as of November
1, 2005, as amended by that certain First Amendment to Credit Agreement dated as of June 1, 2006,
as amended by that certain Second Amendment to Credit Agreement dated as of July 27, 2006, as
amended by that certain Third Amendment to Credit Agreement dated as of January 1, 2007, as amended
by that certain Fourth Amendment to Credit Agreement dated as of March 9, 2007, as amended by that
certain Fifth Amendment to Credit Agreement dated as of June 1, 2007, as amended by that certain
Sixth Amendment to Credit Agreement dated as of June 1, 2008 and as amended by that certain
Seventh Amendment to Credit Agreement dated as of August 31, 2008 (collectively, with all
amendments thereto, the “Agreement”);

     B. The Borrower has requested the Lender to waive certain financial covenants.

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

     1. DEFINITIONS. All capitalized terms used herein without definition shall have the
respective meanings set forth in the Agreement.

     2. AMENDMENT AND WAIVER.

          2.1 Amendment to Section 7(h) of the Agreement. Section 7(h) of the Agreement is
amended in its entirety to read as follows:

     (h) cause the Borrower’s return on assets, determined on the basis of
information filed in the Borrower’s Call Report to be (x) at least zero percent
(0.0%) through June 30, 2009 and (y) at least 35 hundredths of one percent (.35%) at
all times thereafter;

          2.2 Waiver of Cross Default. The Lender hereby waives any Default which
occurred under the Agreement and any default which occurred under the $25,000,000 Subordinated
Note dated October 29, 2002 executed by the Borrower in favor of the Lender, the $25,000,000
Subordinated Note dated April 30, 2003 executed by the company in favor of the Lender and the
$25,000,000 Subordinated Note dated October 25, 2005 executed by the Borrower in favor of the
Lender (collectively, the “Subordinated Notes”) as a result of the failure of the Borrower to be
in compliance with the financial covenant in Section 7(h) of the Agreement prior to the date of
this Amendment and any related cross default under the Agreement and such Subordinated Notes.

 

 

     3. WARRANTIES. To induce Lender to enter into this Amendment, the Borrower warrants that:

          3.1 Authorization. The Borrower is duly authorized to execute and deliver this
Amendment and is and will continue to be duly authorized to borrow monies under the Agreement, as
amended hereby, and to perform its obligations under the Agreement, as amended hereby.

          3.2 No Conflicts. The execution and delivery of this Amendment and the performance by
the Borrower of its obligations under the Agreement as amended hereby, do not and will not conflict
with any provision of law or of the charter or by-laws of the Borrower or of any agreement binding
upon the Borrower.

          3.3 Validity and Binding Effect. The Agreement, as amended hereby, is a legal, valid
and binding obligation of the Borrower, enforceable against the Borrower in accordance with its
terms, except as enforceability may be limited by bankruptcy, insolvency or other similar laws of
general application affecting the enforcement of creditors’ rights or by general principles of
equity limiting the availability of equitable remedies.

          3.4 No Default. As of the date hereof, after giving effect to the amendment and
waivers in Section 2, no Default under the Agreement, or the Subordinated Notes or event or
condition which, with the giving of notice or the passage of time, shall constitute a Default under
the Agreement or the Subordinated Notes, has occurred or is continuing.

          3.5 Warranties. As of the date hereof, the representations and warranties in
Section 5 of the Agreement are true and correct as though made on such date, except for
such changes as are specifically permitted under the Agreement.

     4. CONDITIONS PRECEDENT. This Amendment shall become effective as of the date above first
written after receipt by the Administrative Agent of the following:

          (a) This Amendment duly executed by the Borrower and the Lender;

          (b) payment of an amendment fee in the amount of $200,000; and

          (c) payment by the Borrower of all charges and disbursements of
counsel to the Lender.

     5. GENERAL.

          5.1 Confirmation of the Agreement. From and after the date hereof, each reference
that appears in any other Loan Document to the Agreement shall be deemed to be a reference to the
Agreement as amended hereby. As amended hereby each of the Agreement, each other Loan Document and
each of the Subordinated Notes is hereby reaffirmed, approved and confirmed in every respect and
shall remain in full force and effect. This Amendment is a Loan Document.

2

 

          5.2 Law. This Amendment shall be construed in accordance with and governed by the
laws of the State of Illinois.

          5.3 Successors. This Amendment shall be binding upon the Borrower and Lender and
their respective successors and assigns, and shall inure to the benefit of the Borrower and Lender
and the successors and assigns of Lender. No other Person shall be a direct or indirect legal
beneficiary of, or have any direct or indirect cause of action or claim in connection with, this
Amendment or any of the other Loan Documents.

          5.4 Counterparts. This Amendment may be executed in any number of counterparts and by
the different parties hereto 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 agreement.
Receipt of an executed signature page to this Amendment by facsimile or other electronic
transmission shall constitute effective delivery thereof. Electronic records of executed Loan
Documents maintained by the Lender shall deemed to be originals.

(remainder of page left intentionally blank; signature page follows)

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

	 	 	 	 	 
	WINTRUST FINANCIAL CORPORATION

 	 	 
	By:  	
 	 	 
	Its:	 	 	 
	 

727 North Bank Lane

Lake Forest, Illinois 60645

Attention: Edward J. Wehmer

Facsimile: (847) 615-4091

	 	 	 	 	 
	TERM LOAN A: $100,000,000.00 	BANK OF AMERICA, N.A.

 	 
	PRO RATA SHARE: 100% 	By:  	
 	 
	 	Its: 	 	 
	 
	TERM LOAN B: $100,000,000.00
PRO RATA SHARE: 100% 	901 Main Street, 64th Floor

Dallas, Texas 75202
Attention: Mary Pat Riggins

Facsimile: 214-209-3742
 	 

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