Document:

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                                                                    Exhibit 4(m)

                       ISSUING AND PAYING AGENCY AGREEMENT

                       Senior and Subordinated Bank Notes
                    Due 7 Days to 30 Years from Date of Issue

                  THIS AGREEMENT is made as of September 17, 1999, between M&I
Marshall & Ilsley Bank, M&I Bank of Southern Wisconsin, M&I Bank Northeast, M&I
Bank Fox Valley, M&I Thunderbird Bank, M&I Bank South, M&I Mid-State Bank and
M&I Community State Bank (each, an "Issuing Bank" and collectively, the "Issuing
Banks") and The Chase Manhattan Bank, as issuing and paying agent (the "Issuing
and Paying Agent," which term shall also refer to any duly appointed successor
thereto).

                                   WITNESSETH:

Section 1. Appointment of Issuing and Paying Agent. The Issuing Banks propose to
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issue from time to time, their Senior and Subordinated Bank Notes (each, a "Bank
Note" and collectively, the "Bank Notes") in such amounts as may be duly
authorized by the Issuing Banks pursuant to the Distribution Agreement, dated
September 17, 1999 (the "Distribution Agreement"), among the Issuing Banks and
the agents named therein (the "Agents").

Each Bank Note will be issued in book-entry form and will be represented by a
global certificate (each, a "Global Bank Note" and collectively, the "Global
Bank Notes") registered in the name of The Depository Trust Company, as
depositary ("DTC", which term includes any successor thereof), or a nominee
thereof (which successor shall be a clearing agency registered under the
Securities Exchange Act of 1934, as amended, if so required by applicable law),
or a nominee thereof (each beneficial interest in a Global Bank Note, a
"Book-Entry Bank Note" and collectively, the "Book-Entry Bank Notes").

The Issuing Banks hereby appoint the Issuing and Paying Agent to act, on the
terms and conditions specified herein, as issuing and paying agent for the
Global Bank Notes and as registrar, transfer agent and authenticating agent for
the Global Bank Notes and to perform such other responsibilities as are
described herein and in the Administrative Procedures attached as Exhibit B to
the Distribution Agreement as such Administrative Procedures may be amended from
time to time by agreement of the Issuing Banks and the Agents with notice of
such amendments to the Issuing and Paying Agent, and the Issuing and Paying
Agent hereby accepts such appointments. The aggregate principal amount of the
Global Bank Notes which may be issued pursuant to this Agreement is unlimited.

The Issuing and Paying Agent shall exercise due care in the performance of its
obligations hereunder and shall perform such obligations in a manner consistent
with industry standards.

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Section 2. Global Bank Note Forms; Terms; Execution.
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(a) The Global Bank Notes shall be substantially (i) in the form set forth in
Exhibit A-1 hereto if such Global Bank Note is a Senior Bank Note (each, a
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"Senior Bank Note" and collectively, the "Senior Bank Notes") and bears interest
at a fixed rate of interest (each such Global Bank Note, a "Fixed Rate Global
Senior Bank Note" and collectively, the "Fixed Rate Global Senior Bank Notes"),
(ii) in the form of Exhibit A-2 hereto if such Global Bank Note is a Senior Bank
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Note and bears interest at a floating rate of interest determined by reference
to an interest rate basis specified therein (each such Global Bank Note, a
"Floating Rate Global Senior Bank Note" and collectively, the "Floating Rate
Global Senior Bank Notes"), (iii) in the form of Exhibit A-3 hereto if such
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Global Bank Note is a Subordinated Bank Note (each, a "Subordinated Bank Note"
and collectively, the "Subordinated Bank Notes") and bears interest at a fixed
rate of interest (each such Global Bank Note, a "Fixed Rate Global Subordinated
Bank Note" and collectively, the "Fixed Rate Global Subordinated Bank Notes"),
(iv) in the form of Exhibit A-4 hereto if such Global Bank Note is a
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Subordinated Bank Note and bears interest at a floating rate of interest
determined by reference to an interest rate basis specified therein (each such
Global Bank Note, a "Floating Rate Global Subordinated Bank Note" and
collectively, the "Floating Rate Global Subordinated Bank Notes"), or (v) in
such other form as the Issuing Bank may from time to time designate.

(b) Each Senior Bank Note issued by an Issuing Bank shall have a maturity of 7
days to 30 years from its original date of issuance, and each Subordinated Bank
Note shall have a maturity of five years or more from its original date of
issue. The Bank Notes shall be issued in minimum denominations of $250,000 and
in integral multiples of $1,000 in excess thereof.

                  The interest rate borne by any particular Global Bank Note may
vary from the interest rates borne by any other Global Bank Notes. Any such
variation shall not affect the interest rate borne by any other Global Bank
Notes previously issued hereunder.

(c) Each Issuing Bank will from time to time deliver or cause to be delivered to
the Issuing and Paying Agent a supply of blank Global Bank Notes in such
quantities as such Issuing Bank shall determine, bearing consecutive control
numbers. Each Global Bank Note will have been executed by the manual or
facsimile signature of an Authorized Representative (as defined in Section 3
hereof) of such Issuing Bank. The Issuing and Paying Agent will acknowledge
receipt of the Global Bank Notes delivered to it and will hold such blank Global
Bank Notes in safekeeping in accordance with its customary practice and shall
complete, authenticate and deliver such Global Bank Notes in accordance with the
provisions hereof.

Section 3. Authorized Representatives. From time to time, each Issuing Bank will
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furnish the Issuing and Paying Agent with a certificate executed by an officer
of the Issuing Bank certifying the incumbency and specimen signatures of those
officers of such Issuing Bank authorized to execute Global Bank Notes on behalf
of such Issuing Bank by manual or facsimile signature and to give instructions
and notices on behalf of such Issuing Bank hereunder (the "Authorized
Representatives"). Until the Issuing and Paying Agent receives a subsequent
certificate, the Issuing and Paying Agent shall be entitled to rely on the last
such certificate delivered to it for the purposes of determining the identities
of Authorized Representatives of such Issuing Bank.

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Any Global Bank Note bearing the manual or facsimile signatures of persons who
are Authorized Representatives of such Issuing Bank on the date such signatures
are affixed shall bind such Issuing Bank after the completion, authentication
and delivery thereof by the Issuing and Paying Agent, notwithstanding that such
persons shall have ceased to hold office on the date such Global Bank Note is so
completed, authenticated and delivered by the Issuing and Paying Agent.

Section 4. Issuance Instructions; Completion, Authentication and Delivery of
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Global Bank Notes.
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(a) All instructions regarding the completion, authentication and delivery of
Global Bank Notes shall be given by an Authorized Representative of an Issuing
Bank by telephone (confirmed in writing), by facsimile transmission or by other
acceptable written means by such Authorized Representative.

(b) Upon receipt of the instructions described above, the Issuing and Paying
Agent shall cause to be withdrawn the necessary and applicable Global Bank Notes
from safekeeping and, in accordance with such instructions, shall:

(i) complete each Global Bank Note;

(ii) record each Global Bank Note in the applicable Bank Note Register (as
defined in Section 10 hereof);

(iii) cause each Global Bank Note to be manually authenticated by any one of the
signatories of the Issuing and Paying Agent duly authorized and designated by it
for such purpose; and

(iv) hold each Global Bank Note in safekeeping on behalf of the registered
holder thereof;

provided that instructions regarding the completion and authentication of a
Global Bank Note, whether delivered by facsimile transmission or by other
written means, are received by the Issuing and Paying Agent by 11:00 A.M., New
York City time, on the Business Day immediately preceding the date of settlement
relating to such Global Bank Note (or 9:00 A.M., New York City time, on the date
of settlement relating to such Bank Note if the trade date and the date of
settlement relating to such Bank Note are the same day). As used in this
Agreement, the term "Business Day" shall mean any day that is not a Saturday or
Sunday and that is not a day on which banking institutions in The City of New
York or the city in which the Issuing Bank is headquartered are authorized or
required by law, regulation or executive order to close, and with respect to
LIBOR Notes (as defined in the applicable Floating Rate Global Bank Note) only,
any day that is also a London Business Day. As used in this Agreement, "London
Business Day" means any day on which commercial banks are open for business
(including dealings in the Designated LIBOR Currency (as defined in the
applicable Floating Rate Global Bank Note)) in London.

Section 5. Reliance on Instructions; Request for Instructions. The Issuing and
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Paying Agent shall incur no liability to any Issuing Bank in acting hereunder
upon instructions contemplated hereby that the Issuing and Paying Agent
reasonably believed in good faith to have been given by an Authorized
Representative of any Issuing Bank. In the event a discrepancy exists between
the instructions as

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originally received by the Issuing and Paying Agent and any subsequent written
confirmation thereof, such original instructions will be deemed controlling;
provided that the Issuing and Paying Agent gives notice to any Issuing Bank of
such discrepancy promptly upon the receipt of such written confirmation.

Any application by the Issuing and Paying Agent for written instructions from an
Issuing Bank may, at the option of the Issuing and Paying Agent, set forth in
writing any action proposed to be taken or omitted by the Issuing and Paying
Agent under this Agreement and the date on and/or after which such action shall
be taken or such omission shall be effective. The Issuing and Paying Agent shall
not be liable for any action taken by, or omission of, the Issuing and Paying
Agent in accordance with a proposal included in such application on or after the
date specified in such application (which date shall not be less than three
Business Days after the date any officer of such Issuing Bank actually receives
such application, unless any such officer shall have consented in writing to any
earlier date) unless prior to taking any such action (or the effective date in
the case of an omission), the Issuing and Paying Agent shall have received
written instructions in response to such application specifying the action to be
taken or omitted.

Section 6. The Issuing Bank's Representations and Warranties. Each instruction
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given to the Issuing and Paying Agent in accordance with Section 4 hereof shall
constitute a representation and warranty to the Issuing and Paying Agent by the
Issuing Bank that the issuance and delivery of the Global Bank Notes have been
duly and validly authorized by the Issuing Bank and that the Global Bank Notes,
when completed and authenticated pursuant hereto, will constitute the valid and
legally binding obligations of the Issuing Bank subject to applicable
bankruptcy, liquidation, insolvency, reorganization, moratorium and similar laws
of general applicability relating to, or affecting, creditors' rights and to
general equity principles. The Issuing Bank further warrants that it is free to
enter into this Agreement and to perform the terms hereof.

Section 7. Payments of Interest; Interest Payment Dates; Record Dates. Interest
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payments on Global Bank Notes with maturities of greater than one year will be
made: (a) in the case of the Fixed Rate Global Senior Bank Notes and Fixed Rate
Global Subordinated Bank Notes (collectively, the "Fixed Rate Global Bank
Notes"), semi-annually on March 31 and September 30 of each year (unless
otherwise specified in any applicable Fixed Rate Global Bank Notes) and (b) in
the case of Floating Rate Global Senior Bank Notes and Floating Rate Global
Subordinated Bank Notes (collectively, the "Floating Rate Global Bank Notes"),
on such dates as are specified therein (collectively, the "Interest Payment
Dates") and, in each case, at maturity or upon earlier redemption or repayment
if so indicated in the applicable Global Bank Note. All such interest payments
(other than interest due at maturity or upon earlier redemption or repayment)
will be made to the Holders (as defined in Section 10 hereof) in whose names
Fixed Rate Global Bank Notes are registered at the close of business on the
March 15 or September 15 (unless otherwise specified in any applicable Fixed
Rate Global Bank Notes) (whether or not a Business Day) next preceding such
Interest Payment Dates and in whose names Floating Rate Global Bank Notes are
registered at the close of business on the fifteenth calendar day (whether or
not a Business Day) prior to each such Interest Payment Date (each such March
15, September 15 and fifteenth calendar day, a "Record Date"). Notwithstanding
the foregoing, if the Original Issue Date of any Global Bank Note with a
maturity of greater than one year occurs between a Record Date and the next
succeeding Interest Payment Date, the first payment of interest on any such
Global Bank

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Note will be made on the second Interest Payment Date succeeding the Original
Issue Date (as defined in the Global Bank Notes). Interest payments will be
calculated and made in the manner provided in the applicable Global Bank Note.

If an Issuing Bank does not deposit adequate funds pursuant to Section 9 hereof
with respect to the interest due on a Global Bank Note with a maturity of
greater than one year on an Interest Payment Date, such interest will cease to
be due to the Holder of such Global Bank Note as of the close of business on the
Record Date relating to such Interest Payment Date and will be paid to the
Holder of such Global Bank Note as of the close of business on a special record
date to be fixed by the Issuing and Paying Agent when funds for the payment of
such interest have been deposited pursuant to Section 9 hereof. Notice of such
special record date shall be given by the Issuing and Paying Agent, at such
Issuing Bank's expense, to the registered Holder of such Global Bank Note not
less than 10 calendar days prior to such special record date.

Interest payments on Fixed Rate Global Bank Notes with maturities of one year or
less will be made only upon maturity upon presentation and surrender of the
applicable Fixed Rate Global Bank Note (unless otherwise specified in the
applicable Fixed Rate Global Bank Note). Interest payments on Fixed Rate Global
Bank Notes with maturities of one year or less will be calculated in the manner
provided in the applicable Fixed Rate Global Bank Note. Interest payments on
Floating Rate Global Bank Notes with maturities of one year or less will be made
on the Interest Payment Dates specified in such Floating Rate Global Bank Note
and, in each case, at maturity or upon earlier redemption or repayment. Interest
payments on Floating Rate Global Bank Notes with maturities of one year or less
will be calculated in the manner provided in the applicable Floating Rate Global
Bank Note.

Section 8. Payment of Principal. The Issuing and Paying Agent will pay the
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Holder of each Global Bank Note the principal amount of each such Global Bank
Note, together with accrued interest and premium, if any, at maturity or upon
earlier redemption or repayment.

Section 9. Deposit of Funds. The total amount of any principal of, premium, if
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any, and interest due on Global Bank Notes on any Interest Payment Date or any
maturity date or date of redemption or repayment shall be paid by the applicable
Issuing Bank to the Issuing and Paying Agent as of 11:00 A.M., New York City
time, in funds available for use by the Issuing and Paying Agent on such date.
Such Issuing Bank will make such payment on such Global Bank Notes via Fedwire
to an account specified by the Issuing and Paying Agent. Upon receipt of funds
from an Issuing Bank with respect to any Global Bank Note, on such date or as
soon as possible thereafter, the Issuing and Paying Agent will pay by separate
wire transfer (using message entry instructions in a form previously specified
by DTC) to an account previously specified by DTC, in funds available for
immediate use by DTC, each payment of principal of, premium, if any, and
interest due on a Global Bank Note on such date.

The Issuing and Paying Agent shall hold such amounts paid to it by the Issuing
Banks in trust for the Holders but shall, pending payment by it to the account
specified above, not be under any liability for interest on monies at any time
received by it pursuant to any of the terms of this Agreement or of the Global
Bank Notes, nor shall the Issuing and Paying Agent be required to invest such
monies.

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Section 10.  Bank Note Registers; Registration, Transfer and Exchange; Persons
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Deemed Owners.
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(a)  The Issuing and Paying Agent shall maintain at its offices the Senior Note
Register and Subordinated Note Register (together, the "Bank Note Registers").
The Issuing and Paying Agent is hereby appointed as Registrar for the purpose of
registering each Global Bank Note and transfers of such Global Bank Note as
herein provided. The terms "Senior Note Register" and "Subordinated Note
Register" shall mean the definitive records in which shall be recorded the
names, addresses and taxpayer identifying numbers of the holders of the Global
Senior Bank Notes and Global Subordinated Bank Notes, respectively
(collectively, the "Holders"), the serial and CUSIP numbers of each such Global
Bank Note and the Original Issue Date thereof and details with respect to the
transfer and exchange of each Global Bank Note.

(b)  Upon surrender for registration of transfer of any Global Bank Note at the
offices of the Issuing and Paying Agent, the applicable Issuing Bank shall
execute, and the Issuing and Paying Agent shall complete, authenticate and
deliver, in the name of the designated transferee or transferees, one or more
new Global Bank Notes of any authorized denominations and having identical terms
and provisions and for an equal aggregate principal amount.

(c)  At the option of the Holder of a Global Bank Note, such Global Bank Note
maybe be exchanged for other Global Bank Notes of any authorized denominations
of an equal aggregate principal amount and having identical terms and
provisions, upon surrender of the Global Bank Notes to be exchanged at the
designated offices of the Issuing and Paying Agent. Whenever any Global Bank
Notes are so surrendered for exchange, the applicable Issuing Bank shall
execute, and the Issuing and Paying Agent shall complete, authenticate and
deliver, the Global Bank Notes that the Holder of the Global Bank Note making
the exchange is entitled to receive. Except as provided below, owners of
beneficial interests in a Global Bank Note representing Book-Entry Bank Notes
will not be entitled to have such Book-Entry Bank Notes registered in their
names, will not receive or be entitled to receive physical delivery of Bank
Notes in certificated form and will not be considered the owners or holders
thereof under this Agreement. However, if DTC notifies the Issuing Bank that it
is unwilling or unable to continue as depositary or if at any time DTC ceases to
be a clearing agency registered under the Securities Exchange Act of 1934, as
amended, and a successor depositary is not appointed by the Issuing Bank within
60 days, or an Issuing Bank in its sole discretion determines not to have Book-
Entry Bank Notes represented by one or more Global Bank Notes, then Global Bank
Notes representing Book-Entry Bank Notes may be exchanged in whole for
definitive Bank Notes in registered form, of like tenor and of an equal
aggregate principal amount, in minimum denominations of $250,000 and integral
multiples of $1,000 in excess thereof, upon surrender of the Global Bank Notes
to be exchanged at the offices of the Issuing and Paying Agent.

(d)  Notwithstanding the foregoing, the Issuing and Paying Agent shall not
register the transfer of or exchange (i) any Global Bank Note that has been
called for redemption in whole or in part, except the unredeemed portion of
Global Bank Notes being redeemed in part, (ii) any Global Bank Note during the
period beginning at the opening of business 15 days before the mailing of a
notice of such redemption and ending at the close of business on the day of such
mailing, or (iii) any Global Bank Note in violation of the legend contained on
the face of such Global Bank Note.

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(e)  All Global Bank Notes issued upon any registration of transfer or exchange
of Global Bank Notes shall be the valid obligations of the Issuing Banks,
evidencing the same debt, and entitled to the same benefits as the Global Bank
Notes surrendered upon such registration of transfer or exchange.

(f)  Every Global Bank Note presented or surrendered for registration of
transfer or for exchange shall be duly endorsed, or be accompanied by a written
instrument of transfer with such evidence of due authorization and guaranty of
signature as may reasonably be required by the Issuing and Paying Agent, in form
satisfactory to the Issuing and Paying Agent, duly executed by the Holder
thereof or his attorney duly authorized in writing.

(g)  No service charge shall be made to a Holder of Global Bank Notes for any
transfer or exchange of Global Bank Notes, but the Issuing Bank may require the
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection therewith.

(h)  The Issuing Banks and the Issuing and Paying Agent, and any agent of the
Issuing Banks or the Issuing and Paying Agent may treat the Holder in whose name
a Global Bank Note is registered as the owner of such Global Bank Note for all
purposes, whether or not such Global Bank Note be overdue, and neither the
Issuing Banks , the Issuing and Paying Agent nor any such agent shall be
affected by notice to the contrary except as required by applicable law.

Section 11.  Mutilated, Destroyed, Lost, or Stolen Global Bank Notes. In case
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any Global Bank Note shall at any time become mutilated, destroyed, lost or
stolen, and such Global Bank Note or evidence of the loss, theft or destruction
thereof satisfactory to the Issuing Bank and the Issuing and Paying Agent
(together with indemnity hereinafter referred to and such other documents or
proof as may be required by the Issuing Bank and the Issuing and Paying Agent)
shall be delivered to the Issuing and Paying Agent, the Issuing Bank shall
execute a new Global Bank Note, of like tenor and principal amount, having a
serial number not contemporaneously outstanding, in exchange and substitution
for the mutilated Global Bank Note or in lieu of the Global Bank Note destroyed,
lost or stolen but, in the case of any destroyed, lost or stolen Global Bank
Note, only upon receipt of evidence satisfactory to the Issuing and Paying Agent
and the Issuing Bank that such Global Bank Note was destroyed, stolen or lost,
and, if required, upon receipt of indemnity satisfactory to each of them. The
Issuing and Paying Agent shall authenticate any such substituted Global Bank
Note and deliver the same upon the written request or authorization of any
Authorized Representative of the Issuing Bank. Upon the issuance of any
substituted Global Bank Note, the Issuing Bank and the Issuing and Paying Agent
may require the payment of a sum sufficient to cover all expenses and reasonable
charges connected with the preparation, authentication and delivery of a new
Global Bank Note. If any Global Bank Note that has matured or has been redeemed
or repaid or is about to mature or to be redeemed or repaid, as the case may be,
shall become mutilated, destroyed, lost or stolen, the Issuing Bank may, instead
of issuing a substitute Global Bank Note, pay or authorize the payment of the
same (without surrender thereof except in the case of a mutilated Global Bank
Note) upon compliance by the Holder with the provisions of this Section.

Section 12.  Cancellation. All Global Bank Notes surrendered for payment,
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registration of transfer or exchange shall, if surrendered to any person other
than the Issuing and Paying Agent, be

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delivered to the Issuing and Paying Agent and shall be promptly cancelled by it.
The Issuing Banks may at any time deliver to the Issuing and Paying Agent for
cancellation any Global Bank Notes previously authenticated and delivered
hereunder which the Issuing Banks may have acquired in any manner whatsoever,
and all Global Bank Notes so delivered shall be promptly cancelled by the
Issuing and Paying Agent. No Global Bank Note shall be authenticated in lieu of
or in exchange for any Global Bank Note cancelled as provided in this Section,
except as expressly permitted by this Agreement. All cancelled Global Bank Notes
held by the Issuing and Paying Agent shall be returned to the Issuing Banks upon
request.

Section 13.  Redemption of Global Bank Notes.
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(a)  If any Global Bank Notes redeemable at the option of the Issuing Bank are
to be redeemed prior to maturity, the Issuing Bank shall notify the Issuing and
Paying Agent not more than 60 nor less than 45 calendar days prior to the date
fixed by the Issuing Bank for such redemption (the "Redemption Date") of the
Issuing Bank's election to redeem such Global Bank Notes in whole or in part in
increments of $1,000 (provided that any remaining principal amount of such
Global Bank Notes shall be at least $250,000).

(b)  Whenever less than all the Global Bank Notes at any time outstanding are to
be redeemed in accordance with their terms, the Global Bank Notes to be so
redeemed shall be selected by the Issuing Bank. If less than all the Global Bank
Notes with identical terms, as evidenced by a like CUSIP number, at any time
outstanding are to be redeemed, the Global Bank Notes to be so redeemed shall be
selected by the Issuing and Paying Agent by lot or in any usual manner approved
by it. The Issuing and Paying Agent shall promptly notify the Issuing Bank in
writing of the Global Bank Notes selected for redemption and, in the case of
Global Bank Notes selected for partial redemption, the principal amount thereof
to be redeemed.

(c)  Unless otherwise specified in the applicable Global Bank Note, notice of
redemption shall be given by the Issuing and Paying Agent, at the Issuing Bank's
expense, by first-class mail, postage prepaid, mailed not more than 60 nor less
than 30 calendar days prior to the Redemption Date, to each Holder of such
Global Bank Note to be redeemed, at its address appearing in the Bank Note
Register. All notices of redemption shall identify the Global Bank Notes to be
redeemed (including CUSIP number) and shall state: (i) the Redemption Date; (ii)
the redemption price, which shall be determined in accordance with the terms of
the Global Bank Note (the "Redemption Price"), (iii) if less than all of the
Global Bank Notes at any time outstanding are to be redeemed, the identification
(and, in the case of partial redemption, the principal amounts) of the
particular Global Bank Notes to be redeemed; (iv) that on the Redemption Date
the Redemption Price plus accrued interest, if any, to the Redemption Date will
become due and payable with respect to each Global Bank Note to be redeemed and
that interest thereon will cease to accrue on and after said date; and (v) the
place or places where such Global Bank Notes are to be surrendered for payment.

(d)  Notice of redemption having been given as described above, the Global Bank
Notes so to be redeemed shall, on the Redemption Date, become due and payable at
the Redemption Price, and from and after such date such Global Bank Notes shall
cease to bear interest. The Issuing Bank shall deposit funds with the Issuing
and Paying Agent prior to the Redemption Date that are

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sufficient to redeem such Global Bank Notes which are scheduled to be so
redeemed. Upon surrender of any such Global Bank Notes for redemption in
accordance with such notice, the Issuing and Paying Agent shall pay such Global
Bank Notes at the Redemption Price, together with unpaid interest accrued on
such Global Bank Notes at the applicable rate borne by such Global Bank Notes to
the Redemption Date.

(e)  Any Global Bank Note that is to be redeemed only in part shall be
surrendered to the Issuing and Paying Agent, and the Issuing and Paying Agent
shall complete, authenticate and deliver to the Holder of such Global Bank Note,
without service charge, a new Global Bank Note or Global Bank Notes, of any
authorized denomination as requested by such Holder (which shall be $250,000 or
an integral multiple of $1,000 in excess thereof), in an aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of
the Global Bank Note so surrendered.

(f)  The Issuing Banks, in issuing the Global Bank Notes, may use "CUSIP"
numbers (if then generally in use) and, if so, the Issuing and Paying Agent
shall use "CUSIP" numbers in notices of redemption as a convenience to Holders;
provided, however, that any such notice may state that no representation is made
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as to the correctness of such numbers either as printed on the Global Bank Notes
or as contained in any notice of a redemption and that reliance may be placed
only on the other identification numbers printed on the Global Bank Notes, and
any such redemption shall not be affected by any defect in or omission of such
numbers.

Section 14.  Repayment of Global Bank Notes.
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(a)  In order for any Global Bank Note to be repaid in whole or in part at the
option of the Holder thereof, such Global Bank Note must be delivered by the
Holder thereof, with the form entitled "Option to Elect Repayment" (set forth in
such Global Bank Note) duly completed, to the Issuing and Paying Agent at its
offices located at the address set forth in Section 21 hereof, or such other
place or places of which the Issuing Bank shall from time to time notify the
Holders of the Global Bank Notes, not more than 60 nor less than 30 calendar
days prior to any date fixed for such repayment of such Global Bank Notes (the
"Optional Repayment Date"). Unless otherwise specified in the applicable Global
Bank Note, no Subordinated Bank Note will specify a Holder's Optional Repayment
Date that is less than five years from the date of issue of such Subordinated
Bank Note.

(b)  Upon surrender of any Global Bank Note for repayment in accordance with the
provisions set forth above, the Global Bank Note to be repaid shall, on the
Optional Repayment Date, become due and payable, and the Issuing and Paying
Agent shall pay such Global Bank Note on the Optional Repayment Date at a price
equal to 100% of the principal amount thereof, together with accrued interest to
the Optional Repayment Date.

(c)  If less than the entire principal amount of any Global Bank Note is to be
repaid, the Holder thereof shall specify the portion thereof (which shall be in
increments of $1,000) which such Holder elects to have repaid and shall
surrender such Global Bank Note to the Issuing and Paying Agent, and the Issuing
and Paying Agent shall complete, authenticate and deliver to the Holder of such
Global Bank Note, without service charge, a new Global Bank Note or Global

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Bank Notes in an aggregate principal amount equal to and in exchange for the
unrepaid portion of the principal of the Global Bank Note so surrendered and in
such denominations as shall be specified by such Holder (which shall be $250,000
or an integral multiple of $1,000 in excess thereof).

Section 15.  Acceleration of Maturity. If an Event of Default (as defined in the
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applicable Global Bank Note) with respect to a Senior Bank Note or a
Subordinated Bank Note, as the case may be, issued by an Issuing Bank shall
occur, then the Holder of the applicable Senior Bank Note or Subordinated Bank
Note may declare the principal amount of, and accrued interest and premium, if
any, on such Senior Bank Note or Subordinated Bank Note due and payable by
written notice to the Issuing Bank. Upon such declaration and notice, such
principal amount, accrued interest and premium, if any, shall become immediately
due and payable. The Issuing Bank shall promptly notify, and provide copies of
any such notice to, the Issuing and Paying Agent, and the Issuing and Paying
Agent shall promptly mail by first-class mail, postage prepaid, copies of such
notice to the Holders of the Senior Bank Notes or the Subordinated Bank Notes,
as the case may be, upon the occurrence of an Event of Default or of the curing
or waiver of an Event of Default. Any Event of Default with respect to a Bank
Note may be waived by the Holder thereof.

In the event of a failure by the Issuing Bank to make payment of the principal
of, premium, if any, or interest on, the Subordinated Notes (and, in the case of
payment of interest, such failure to pay continues for two Business Days), the
Issuing Bank will, upon written demand of the Holder thereof, pay to such Holder
the whole amount then due and payable on the Subordinated Note, with interest on
the overdue amount at the rate borne by the Subordinated Note to the extent such
interest is legally enforceable. If the Issuing Bank fails to pay such amount
upon such demand, the Holder may, among other things, institute a judicial
proceeding for the collection thereof.

                                       10
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Section 16.  Application of Funds; Return of Unclaimed Funds. Any monies paid by
------------------------------------------------------------
an Issuing Bank and held by the Issuing and Paying Agent in trust for payment of
principal of, premium, if any, or interest on, any Global Bank Notes that remain
unclaimed for two years following the date on which such principal, premium or
interest shall have become due and payable shall be returned upon request to the
Issuing Bank by the Issuing and Paying Agent and the Issuing and Paying Agent
shall inform the Issuing Bank as to the specific Global Bank Notes to which such
monies related, and any Holder shall thereafter look, as an unsecured general
creditor, only to the Issuing Bank for the payment thereof and all liability of
the Issuing and Paying Agent with respect to such trust monies shall thereupon
cease. Any funds deposited by an Issuing Bank with the Issuing and Paying Agent
for the payment of principal of, premium, if any, or interest on, any Bank Note
shall be held in trust on behalf of the Issuing Bank by the Issuing and Paying
Agent for the payment of principal of, premium, if any, or interest on, any Bank
Note until paid or returned to such Issuing Bank.

Section 17.  Cancellation of Unissued Notes. Upon the written request of the
-------------------------------------------
Issuing Banks, the Issuing and Paying Agent promptly shall cancel and return to
the Issuing Banks all unissued Bank Notes in its possession.

Section 18.  Liability. Neither the Issuing and Paying Agent nor its directors,
----------------------
officers, employees or agents shall be liable to the Issuing Banks for any act
or omission hereunder except in the case of gross negligence or willful
misconduct or breach of the Issuing and Paying Agent's obligations under this
Agreement. The duties and obligations of the Issuing and Paying Agent, its
directors, officers and employees shall be determined by the express provisions
of this Agreement and no implied covenants shall be read into this Agreement
against any of them. Notwithstanding any other provision elsewhere contained in
this Agreement, the Issuing and Paying Agent is acting solely as agent of the
Issuing Banks and does not assume any obligation or relationship of trust or
agency for or with any Holders. Neither the Issuing and Paying Agent nor any of
its directors, officers or employees shall be required to ascertain whether any
issuance or sale of Bank Notes (or any amendment or termination of this
Agreement) has been duly authorized (provided that the Issuing and Paying Agent
in good faith has determined that the facsimile or manual signature of the
Authorized Representative or any person who has been designated by the
Authorized Representative in writing to the Issuing and Paying Agent reasonably
resembles the specimen signatures filed with the Issuing and Paying Agent) or is
in compliance with any other agreement to which the Issuing Bank is a party
(whether or not the Issuing and Paying Agent is also a party to such other
agreement), and the Issuing and Paying Agent and each of its officers and
employees shall be entitled to rely upon any instructions reasonably believed
(in accordance with Section 3 hereof) by the Issuing and Paying Agent and its
officers and employees to be given on behalf of the Issuing Bank by an
Authorized Representative or by any person who has been designated by an
Authorized Representative in writing to the Issuing and Paying Agent as a person
authorized to give such instructions hereunder, whether or not in fact given by
the Authorized Representative or such designated person.

The Issuing and Paying Agent may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents or
attorneys, and the Issuing and Paying Agent shall not be responsible for any
misconduct or gross negligence on the part of any agent or attorney appointed
with due care by it hereunder; provided the Issuing and Paying Agent shall

                                       11
<PAGE>

remain responsible for compliance with the terms of this Agreement. The Issuing
and Paying Agent may consult with counsel of its selection and the advice of
such counsel or any opinion of counsel shall be full and complete authorization
and protection in respect of any action taken, suffered or omitted by it
hereunder in good faith and in reliance thereon. The Issuing and Paying Agent
shall not be liable for any action taken, suffered, or omitted to be taken by it
in good faith and reasonably believed by it to be authorized or within the
discretion or rights or powers conferred upon it by this Agreement.

Section 19.  Indemnification, Risk of Funds. Each Issuing Bank shall indemnify
-------------------------------------------
and hold harmless the Issuing and Paying Agent, its directors, officers,
employees and agents from and against all actions, claims, losses, damages,
liabilities, losses and expenses (including reasonable legal fees and expenses)
relating to or arising out of their actions or inactions taken or omitted to be
taken by the Issuing and Paying Agent in good faith in connection with its
performance under this Agreement including, but not limited to, any actions
taken or omitted upon instructions by such Issuing Bank (in accordance with
Section 3) or the issuance, delivery, payment or non-payment of any Bank Note or
interest thereon, or other receipt or other funds for the payment of the Bank
Notes or interest or premium thereon; provided, however, that the Issuing and
Paying Agent shall be liable for any liabilities, losses, claims, damages, costs
and expenses (including reasonable legal fees and expenses) caused by the gross
negligence, bad faith or willful misconduct of its directors, officers,
employees or agents or breach of the Issuing and Paying Agent's obligations
under this Agreement. The Issuing and Paying Agent shall promptly notify the
Issuing Banks of any action or claim by any third party for which it is entitled
to indemnification hereunder and shall allow the Issuing Banks to assume the
defense of any such action or claim with counsel reasonably acceptable to the
Issuing and Paying Agent. The Issuing and Paying Agent will not settle any
action or claim without the consent of the Issuing Banks, which consent shall
not be unreasonably withheld. In no event shall the Issuing and Paying Agent be
liable for special, indirect or consequential loss or damage of any kind
whatsoever (including but not limited to lost profits), even if the Issuing and
Paying Agent has been advised of the likelihood of such loss or damage and
regardless of the form of action. This indemnity shall survive the termination
of this Agreement.

No provision of this Agreement shall require the Issuing and Paying Agent to
expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its
rights or powers, if it shall have reasonable grounds for believing that
repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it.

Section 20.  Compensation of the Issuing and Paying Agent. Each Issuing Bank
---------------------------------------------------------
agrees to pay the compensation of the Issuing and Paying Agent, at such rates as
shall be mutually agreed upon in writing between such Issuing Bank and the
Issuing and Paying Agent from time to time. Each Issuing Bank shall reimburse
upon demand the Issuing and Paying Agent for all reasonable out-of-pocket
expenses (including reasonable legal fees and expenses), disbursements and
advances incurred or made by the Issuing and Paying Agent with respect to such
Issuing Bank in accordance with any provisions of this Agreement, except any
such expense, disbursement or advance proven to be attributable to the breach of
this Agreement or the gross negligence, bad faith or willful misconduct of the
Issuing and Paying Agent, upon receipt of such invoices as the

                                       12
<PAGE>

Issuing Bank may reasonably require. The provisions of this Section 20 shall
survive the termination of this Agreement.

Section 21.  Notices.
--------------------

(a)  All communications by or on behalf of the Issuing Banks relating to the
issuance, transfer, exchange or payment of Bank Notes or interest thereon shall
be directed to the offices of the Issuing and Paying Agent located at 450 West
33rd Street, New York, New York 10001, Telecopy: (212) 946-8154/8155, Attention:
Agency Administration, or to such other offices as the Issuing and Paying Agent
shall specify in writing to the Issuing Banks. The Issuing Banks will send all
Global Bank Notes to be completed and delivered by the Issuing and Paying Agent
to such offices or such other offices as the Issuing and Paying Agent shall
specify in writing to the Issuing Banks.

(b)  All other notices and communications hereunder shall be in writing and
shall be addressed as follows:

if to the Issuing Banks:

                                    [Issuing Bank]
                                    c/o Marshall & Ilsley Corporation
                                    770 North Water Street
                                    Milwaukee, Wisconsin  53202
                                    Attention:  Dave Urban
                                                Assistant Vice President
                                    Telecopy:  (414) 765-8097

                                    With a copy to:

                                    Michael A. Hatfield
                                    Senior Vice President and Secretary
                                    Facsimile Number:  (414) 765-7899

if to the Issuing and Paying Agent:

                                    The Chase Manhattan Bank
                                    450 West 33rd Street
                                    New York, New York  10001
                                    Attention:  Agency Administration
                                    Telecopy:  (212) 946-8154/8155

Section 22.  Resignation or Removal of Issuing and Paying Agent and Appointment
-------------------------------------------------------------------------------
of Successor Issuing and Paying Agent; Merger, Conversion and Consolidation.
---------------------------------------------------------------------------
The Issuing Banks agree, for the benefit of the Holders from time to time of
the Bank Notes, that there shall at all times be an Issuing and Paying Agent
hereunder which shall be a bank or trust company organized and doing business
under the laws of the United States or any state thereof authorized under such
laws to exercise corporate trust powers, having a combined capital and surplus
of at least $10,000,000 and subject

                                       13
<PAGE>

to supervision and examination by federal or state authority, until all the
Global Bank Notes authenticated and delivered hereunder (a) shall have been
delivered to the Issuing and Paying Agent for cancellation or (b) shall have
become due and payable and funds sufficient to pay the principal of, premium, if
any, and interest on, the Global Bank Notes shall have been made available for
payment and either paid or returned to the Issuing Banks, whichever event occurs
earlier. The foregoing capital and surplus requirements shall not be applicable
if any of the Issuing Banks or an affiliate of the Issuing Banks is appointed as
successor Issuing and Paying Agent.

                  The Issuing and Paying Agent may resign at any time as such
agent upon written notice to the Issuing Bank of such intention on its part,
specifying the date on which its desired resignation shall become effective;
provided, however, that such date shall be not less than 90 days after the
--------  -------
giving of such notice by the Issuing and Paying Agent to the Issuing Banks. The
Issuing and Paying Agent may be removed at any time as such agent by the filing
with it of an instrument in writing signed by duly authorized officers of each
Issuing Bank and specifying such removal and the date, which shall be at least
30 calendar days following receipt of such written notice, upon which it is
intended to become effective. Any such resignation or removal shall take effect
on the date of the appointment by the Issuing Banks of a successor issuing and
paying agent and the acceptance of such appointment by such successor issuing
and paying agent that qualifies as such under the first paragraph of this
Section. In the event of the resignation or removal of the Issuing and Paying
Agent, if a successor issuing and paying agent has not been appointed by the
Issuing Banks within 90 calendar days after the giving of notice of resignation
or within 30 calendar days after receipt of notice of removal, the Issuing and
Paying Agent may, at the expense of the Issuing Banks, petition any court of
competent jurisdiction for appointment of a successor Issuing and Paying Agent.
Upon any such resignation or removal, the Issuing and Paying Agent shall
transfer to the successor Issuing and Paying Agent (or, if none shall have been
appointed, to the respective Issuing Banks) all monies held by the Issuing and
Paying Agent on behalf of the Issuing Banks in respect of any Global Bank Notes,
any unissued Global Bank Notes and all books and records or copies thereof
related to Global Bank Notes maintained by the Issuing and Paying Agent,
including a copy of the Bank Note Registers. Any resignation or removal
hereunder shall not affect the Issuing and Paying Agent's rights to the payment
of fees earned or charges incurred through the effective date of such
resignation or removal.

                  Any corporation or bank into which the Issuing and Paying
Agent hereunder may be merged or converted, or any corporation or bank with
which the Issuing and Paying Agent may be consolidated, or any corporation or
bank resulting from any merger, conversion or consolidation to which the Issuing
and Paying Agent shall be a party, or any corporation or bank to which the
Issuing and Paying Agent shall sell or otherwise transfer all or substantially
all of the assets and business of the Issuing and Paying Agent, provided that it
shall be qualified under the first paragraph of this Section, shall be the
successor Issuing and Paying Agent under this Agreement without the execution or
filing of any paper or any further act on the part of any of the parties hereto.

Section 23.  Benefit of Agreement. This Agreement is solely for the benefit of
---------------------------------
the parties hereto, Holders of Bank Notes, and their successors and assigns, and
nothing herein, express or implied, shall give to any other persons any benefits
or any legal or equitable right, remedy or claim under or by

                                       14
<PAGE>

virtue of this Agreement. No party hereto may assign any of its rights or
obligations hereunder except with the prior written consent of all the parties
hereto.

Section 24.  Bank Notes Held by the Issuing and Paying Agent. The Issuing and
------------------------------------------------------------
Paying Agent, in its individual or other capacity, may become the owner or
pledgee of the Bank Notes with the same rights it would have if it were not
acting as an issuing and paying agent hereunder.

Section 25.  Amendment.  This Agreement shall not be amended by any party hereto
----------------------
except in writing executed by the duly authorized officers of all parties.

Section 26.  Governing Law. This Agreement shall be governed by, construed and
--------------------------
enforced in accordance with, the laws of the State of New York applicable to
agreements made and to be performed in such State, without regard to conflicts
of laws principles.

Section 27.  Counterparts. This Agreement may be executed by the parties hereto
-------------------------
in any number of counterparts, and by each of the parties hereto in separate
counterparts, and each such counterpart, when so executed and delivered, shall
be deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

                                       15
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed on their behalf by their officers thereunto duly
authorized, all as of the day and year first above written.

                                       M&I MARSHALL & ILSLEY BANK

                                       By:   /s/ Michael J. Flaherty
                                             -----------------------
                                             Michael J. Flaherty
                                             Vice President

                                       M&I BANK OF SOUTHERN WISCONSIN

                                       By:   /s/ Michael J. Flaherty
                                             -----------------------
                                             Michael J. Flaherty
                                             Vice President

                                       M&I BANK NORTHEAST

                                       By:   /s/ Michael J. Flaherty
                                             -----------------------
                                             Michael J. Flaherty
                                             Vice President

                                       M&I BANK FOX VALLEY

                                       By:   /s/ Michael J. Flaherty
                                             -----------------------
                                             Michael J. Flaherty
                                             Vice President

                                       M&I THUNDERBIRD BANK

                                       By:   /s/ Michael J. Flaherty
                                             -----------------------
                                             Michael J. Flaherty
                                             Vice President

                                       16
<PAGE>

                                       M&I BANK SOUTH

                                       By:   /s/ Michael J. Flaherty
                                             ----------------------------------
                                             Michael J. Flaherty
                                             Vice President

                                       M&I MID-STATE BANK

                                       By:   /s/ Michael J. Flaherty
                                             ----------------------------------
                                             Michael J. Flaherty
                                             Vice President

                                       M&I COMMUNITY STATE BANK

                                       By:   /s/ Michael J. Flaherty
                                             ----------------------------------
                                             Michael J. Flaherty
                                             Vice President

                                       THE CHASE MANHATTAN BANK,
                                             as Issuing and Paying Agent

                                       By:   /s/ Guy Marzella
                                             ----------------------------------
                                             Guy Marzella
                                             Assistant Vice President

                                       17<PAGE>

                                                                  Exhibit 10(dd)

                           CHANGE OF CONTROL AGREEMENT
                           ---------------------------

         THIS AGREEMENT, entered into as of the _____ day of _____________,
1999, by and between MARSHALL & ILSLEY CORPORATION (the "Company"), and
_________________ __________________ (the "Executive") (hereinafter collectively
referred to as "the parties").

                             W I T N E S S E T H:

         WHEREAS, the Board of Directors of the Company (the "Board") recognizes
that the possibility of a Change of Control (as hereinafter defined in Section
2) exists and that the threat of or the occurrence of a Change of Control can
result in significant distractions of its key management personnel because of
the uncertainties inherent in such a situation; and

         WHEREAS, the Board has determined that it is essential and in the best
interest of the Company and its shareholders to retain the services of the
Executive in the event of a threat or occurrence of a Change of Control and to
ensure his continued dedication and efforts in such event without undue concern
for his personal financial and employment security; and

         WHEREAS, in order to induce the Executive to remain in the employ of
the Company, particularly in the event of a threat of or the occurrence of a
Change of Control, the Company desires to enter into this Agreement with the
Executive.

         NOW, THEREFORE, in consideration of the respective agreements of the
parties contained herein, it is agreed as follows:

         1. Employment Term. (a) The "Employment Term" shall commence on the
            ---------------
first date during the Protected Period (as defined in Section 1(c), below) on
which a Change of Control (as defined in Section 2, below) occurs (the
"Effective Date") and shall expire on the third anniversary of the Effective
Date; provided, however, that at the end of each day of the Employment Term the
      --------  -------
Employment Term shall automatically be extended for one (1) day unless either
the Company or the Executive shall have given written notice to the other at
least thirty (30) days prior thereto that the Employment Term shall not be so
extended.

         (b) Notwithstanding anything contained in this Agreement to the
contrary, if the Executive's employment is terminated prior to the Effective
Date and the Executive reasonably demonstrates that such termination (i) was at
the request of a third party who has indicated an intention or taken steps
reasonably calculated to effect a Change of Control, or (ii) otherwise occurred
in connection with or in anticipation of a Change of Control, then for all
purposes of this Agreement, the Effective Date shall mean the date immediately
prior to the date of such termination of the Executive's employment.

         (c) For purposes of this Agreement, the "Protected Period" shall be the
three (3) year period commencing on the date hereof; provided, however, that at
                                                     --------  -------
the end of each day the

                                       1
<PAGE>

Protected Period shall be automatically extended for one (1) day unless at least
thirty (30) days prior thereto the Company shall have given written notice to
the Executive that the Protected Period shall not be so extended; and provided,
                                                                      --------
further, that notwithstanding any such notice by the Company not to extend, the
-------
Protected Period shall not end if prior to the expiration thereof any third
party has indicated an intention or taken steps reasonably calculated to effect
a Change of Control, in which event the Protected Period shall end only after
such third party publicly announces that it has abandoned all efforts to effect
a Change of Control.

         2.  Change of Control.  For purposes of this Agreement, a "Change of
             -----------------
Control" shall mean the first to occur of the following:

         (a) The acquisition by any individual, entity or "group" (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act")) of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of thirty-three percent (33%) or
more of either (i) the then outstanding shares of common stock of the Company
(the "Outstanding Company Common Stock") or (ii) the combined voting power of
the then outstanding voting securities of the Company entitled to vote generally
in the election of directors (the "Outstanding Company Voting Securities");
provided, however, that the following acquisitions of common stock shall not
--------  -------
constitute a Change of Control: (i) any acquisition directly from the Company
(excluding an acquisition by virtue of the exercise of a conversion privilege or
by one person or a group of persons acting in concert), (ii) any acquisition by
the Company, (iii) any acquisition by any employee benefit plan (or related
trust) sponsored or maintained by the Company or any corporation controlled by
the Company or (iv) any acquisition by any corporation pursuant to a
reorganization, merger, statutory share exchange or consolidation which would
not be a Change of Control under subsection (c) of this Section 2; or

         (b) Individuals who, as of the date hereof, constitute the Board (the
"Incumbent Board") cease for any reason to constitute at least a majority of the
Board; provided, however, that any individual becoming a director subsequent to
       --------  -------
the date hereof whose election, or nomination for election by the Company's
shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a
result of either an actual or threatened "election contest" or other actual or
threatened "solicitation" (as such terms are used in Rule 14a-11 of Regulation
14A promulgated under the Exchange Act) of proxies or consents by or on behalf
of a person other than the Incumbent Board; or

         (c) Consummation of a reorganization, merger, statutory share exchange
or consolidation, unless, following such reorganization, merger, statutory share
exchange or consolidation, (i) more than two-thirds (2/3) of, respectively, the
then outstanding shares of common stock of the corporation resulting from such
reorganization, merger, statutory share exchange or consolidation and the
combined voting power of the then outstanding voting securities of such
corporation entitled to vote generally in the election of directors is then
beneficially owned, directly or indirectly, by all or substantially all of the
individuals and entities who were the beneficial owners, respectively, of the
Outstanding Company Common Stock and

                                       2
<PAGE>

Outstanding Company Voting Securities immediately prior to such reorganization,
merger, statutory share exchange or consolidation in substantially the same
proportions as their ownership, immediately prior to such reorganization,
merger, statutory share exchange or consolidation, (ii) no person (excluding the
Company, any employee benefit plan (or related trust) of the Company or such
corporation resulting from such reorganization, merger, statutory share exchange
or consolidation and any person beneficially owning, immediately prior to such
reorganization, merger, statutory share exchange or consolidation, directly or
indirectly, thirty-three percent (33%) or more of the Outstanding Company Common
Stock or Outstanding Voting Securities, as the case may be) beneficially owns,
directly or indirectly, thirty-three percent (33%) or more of, respectively, the
then outstanding shares of common stock of the corporation resulting from such
reorganization, merger, statutory share exchange or consolidation or the
combined voting power of the then outstanding voting securities of such
corporation, entitled to vote generally in the election of directors and (iii)
at least a majority of the members of the board of directors of the corporation
resulting from such reorganization, merger, statutory share exchange or
consolidation were members of the Incumbent Board at the time of the execution
of the initial agreement providing for such reorganization, merger or
consolidation; or

         (d) Consummation of (i) a complete liquidation or dissolution of the
Company or (ii) the sale or other disposition of all or substantially all of the
assets of the Company, other than to a corporation, with respect to which
following such sale or other disposition, (A) more than two-thirds (2/3) of,
respectively, the then outstanding shares of common stock of such corporation
and the combined voting power of the then outstanding voting securities of such
corporation entitled to vote generally in the election of directors is then
beneficially owned, directly or indirectly, by all or substantially all of the
individuals and entities who were the beneficial owners, respectively, of the
Outstanding Company Common Stock and Outstanding Company Voting Securities
immediately prior to such sale or other disposition in substantially the same
proportion as their ownership, immediately prior to such sale or other
disposition, of the Outstanding Company Common Stock and Outstanding Company
Voting Securities, as the case may be, (B) no person (excluding the Company and
any employee benefit plan (or related trust) of the Company or such corporation
and any person beneficially owning, immediately prior to such sale or other
disposition, directly or indirectly, thirty-three percent (33%) or more of the
Outstanding Company Common Stock or Outstanding Company Voting Securities, as
the case may be) beneficially owns, directly or indirectly, thirty-three percent
(33%) or more of, respectively, the then outstanding shares of common stock of
such corporation or the combined voting power of the then outstanding voting
securities of such corporation entitled to vote generally in the election of
directors and (C) at least a majority of the members of the board of directors
of such corporation were members of the Incumbent Board at the time of the
execution of the initial agreement or action of the Board providing for such
sale or other disposition of assets of the Company.

         3. Employment. (a) Subject to the provisions of Section 3, hereof, the
            ----------
Company agrees to continue to employ the Executive and the Executive agrees to
remain in the employ of the Company during the Employment Term. During the
Employment Term, the Executive shall be employed in such executive capacity as
may be mutually agreed to by the parties. During the Employment Term,
Executive's position (including status, offices, titles and reporting
requirements), authority, duties and responsibilities shall be at least
commensurate in all material

                                       3
<PAGE>

respects with the most significant of those held or assigned at any time during
the twelve (12) month period immediately preceding the Effective Date, and
Executive's services shall be performed at the location where Executive was
employed immediately preceding the Effective Date or at any office or location
less than thirty-five (35) miles from such location, unless mutually agreed to
in writing by the parties.

     (b) Excluding periods of vacation and sick leave to which the Executive is
     entitled, during the Employment Term the Executive agrees to devote full
     time attention to the business and affairs of the Company to the extent
     necessary to discharge the responsibilities assigned to the Executive
     hereunder, provided that the Executive may take reasonable amounts of time
     to (i) serve on corporate, civil or charitable boards or committees, and
     (ii) deliver lectures, fulfill speaking engagements or teach at educational
     institutions, if such activities do not significantly interfere with the
     performance of the Executive's responsibilities hereunder. It is expressly
     understood and agreed that to the extent any such activities have been
     conducted by the Executive prior to the Effective Date, the continued
     conduct of such activities (or the conduct of activities similar in nature
     and scope) subsequent to the Effective Date shall not thereafter be deemed
     to interfere with the performance of Executive's responsibilities
     hereunder.

         4. Compensation. (a) Base Salary. During the Employment Term, the
            ------------      -----------
Executive shall receive an annual base salary ("Annual Base Salary"), which
shall be paid at a monthly rate, at least equal to twelve (12) times the highest
monthly base salary paid or payable to the Executive by the Company and its
affiliated companies in respect of the twelve (12) month period immediately
preceding the month in which the Effective Date occurs, including any amounts
which were deferred under any plans of the Company and its affiliated companies.
During the Employment Term, the Annual Base Salary shall be reviewed at least
annually and shall be increased at any time and from time to time as shall be
substantially consistent with increases in base salary generally awarded in the
ordinary course of business to other peer executives of the Company and its
affiliated companies. Any increase in Annual Base Salary shall not serve to
limit or reduce any other obligation to the Executive under this Agreement.
Annual Base Salary shall not be reduced after any such increase and the term
Annual Base Salary as utilized in this Agreement shall refer to Annual Base
Salary as so increased. As used in this Agreement, the term "affiliated
companies" shall include any company controlled by, controlling or under common
control with the Company.

         (b) Annual Bonus. In addition to Annual Base Salary, the Executive
             ------------
shall be awarded, for each fiscal year ending during the Employment Term, an
annual bonus (the "Annual Bonus") in cash at least equal to the average
annualized (for any fiscal year consisting of less than twelve (12) full months
or with respect to which the Executive has been employed by the Company for less
than twelve (12) full months) bonuses paid or payable, including any amounts
which were deferred under any plans of the Company and its affiliated companies,
to the Executive by the Company and its affiliated companies in respect of the
three (3) fiscal years immediately preceding the fiscal year in which the
Effective Date occurs (the "Recent Average Bonus"). Each such Annual Bonus shall
be paid no later than seventy-five (75) days after the end of the fiscal year
for which the Annual Bonus is awarded, unless the Executive shall elect to defer
the receipt of such Annual Bonus under any plan or arrangement of the Company
allowing therefor.

                                       4
<PAGE>

         (c) Incentive, Savings and Retirement Plans. During the Employment
             ---------------------------------------
Term, the Executive shall be entitled to participate in all incentive, savings
and retirement plans, practices, policies and programs applicable generally to
other peer executives of the Company and its affiliated companies, but in no
event shall such plans, practices, policies and programs provide the Executive
with incentive opportunities (measured with respect to both regular and special
incentive opportunities, to the extent, if any, that such distinction is
applicable), savings opportunities and retirement benefit opportunities, in each
case, less favorable, in the aggregate, than the most favorable of those
provided by the Company and its affiliated companies for the Executive under
such plans, practices, policies and programs as in effect at any time during the
twelve (12) month period immediately preceding the Effective Date, or, if more
favorable to the Executive, those provided generally at any time after the
Effective Date to other peer executives of the Company and its affiliated
companies.

         (d) Benefit Plans. During the Employment Term, the Executive and/or the
             -------------
Executive's family, as the case may be, shall be eligible for participation in
and shall receive all benefits under benefit plans, practices, policies and
programs provided by the Company and its affiliated companies (including,
without limitation, medical, prescription drug, dental, disability, salary
continuance, employee life, group life, accidental death and travel accident
insurance plans and programs) to the extent applicable generally to other peer
executives of the Company and its affiliated companies and their families; but
in no event shall such plans, practices, policies and programs provide the
Executive with benefits which are less favorable, in the aggregate, than the
most favorable of such plans, practices, policies and programs in effect for the
Executive and his family at any time during the twelve (12) month period
immediately preceding the Effective Date or, if more favorable to the Executive,
those provided generally at any time after the Effective Date to other peer
executives of the Company and its affiliated companies and their families.

         (e) Expenses. During the Employment Term, the Executive shall be
             --------
entitled to receive prompt reimbursement for all reasonable expenses incurred by
the Executive in accordance with the most favorable policies, practices and
procedures of the Company and its affiliated companies in effect for the
Executive at any time during the twelve (12) month period immediately preceding
the Effective Date or, if more favorable to the Executive, as in effect
generally at any time thereafter with respect to other peer executives of the
Company and its affiliated companies.

         (f) Fringe Benefits. During the Employment Term, the Executive shall be
             ---------------
entitled to fringe benefits (including but not limited to Company cars, club
dues and physical examinations) in accordance with the most favorable plans,
practices, programs and policies of the Company and its affiliated companies in
effect for the Executive at any time during the twelve (12) month period
immediately preceding the Effective Date or, if more favorable to the Executive,
as in effect generally at any time thereafter with respect to other peer
executives of the Company and its affiliated companies.

         (g) Office and Support Staff. During the Employment Term, the Executive
             ------------------------
shall be entitled to an office or offices of a size and with furnishings and
other appointments, and to exclusive personal secretarial and other assistance,
at least equal to the most favorable of the

                                       5
<PAGE>

foregoing provided to the Executive by the Company and its affiliated companies
at any time during the twelve (12) month period immediately preceding the
Effective Date or, if more favorable to the Executive, as provided generally at
any time thereafter with respect to other peer executives of the Company and its
affiliated companies.

         (h) Vacation and Sick Leave. During the Employment Term, the Executive
             -----------------------
shall be entitled to paid vacation and sick leave (without loss of pay) in
accordance with the most favorable plans, policies, programs and practices of
the Company and its affiliated companies as in effect for the Executive at any
time during the twelve (12) month period immediately preceding the Effective
Date or, if more favorable to the Executive, as in effect generally at any time
thereafter with respect to other peer executives of the Company and its
affiliated companies.

         (i) Restrictions. As of the Effective Date, all restrictions limiting
             ------------
the exercise, transferability or other incidents of ownership of any outstanding
award, including but not limited to restricted stock, options, stock
appreciation rights, or other property or rights of the Company granted to the
Executive shall lapse, and such awards shall become fully vested and be held by
the Executive free and clear of all such restrictions. This provision shall
apply to all such property or rights notwithstanding the provisions of any other
plan or agreement, unless the effect of the application of this provision to a
particular right or property would result in the loss of favorable securities
law treatment for participants under the plan pursuant to which the award was
granted.

         5.  Termination of Employment.  During the Employment Term, the
             -------------------------
Executive's employment hereunder may be terminated under the following
circumstances:

         (a) Death or Disability. The Executive's employment shall terminate
             -------------------
automatically upon the Executive's death during the Employment Term. If the
Company determines in good faith that the Disability of the Executive has
occurred during the Employment Term (pursuant to the definition of Disability
set forth below), it may give to the Executive written notice in accordance with
Section 5 of this Agreement of its intention to terminate the Executive's
employment. In such event, the Executive's employment with the Company shall
terminate effective on the thirtieth (30th) day after receipt of such notice by
the Executive (the "Disability Effective Date"), provided that, within thirty
(30) days after such receipt, the Executive shall not have returned to full-time
performance of the Executive's duties. For purposes of this Agreement,
"Disability" shall mean the absence of the Executive from the Executive's duties
with the Company on a full-time basis for one hundred eighty (180) consecutive
business days as a result of incapacity due to mental or physical illness which
is determined to be total and permanent by a physician selected by the Company
or its insurers and acceptable to the Executive or the Executive's legal
representative, provided if the parties are unable to agree, the parties shall
request the Dean of the Medical College of Wisconsin to choose such physician.

         (b) Cause. The Company may terminate the Executive's employment for
             -----
"Cause." A termination for Cause is a termination evidenced by a resolution
adopted in good faith by a majority of the Board that the Executive (i)
willfully, deliberately and continually failed to substantially perform his
duties under Section 3, above (other than a failure resulting from the
Executive's incapacity due to physical or mental illness) which failure
constitutes gross

                                       6
<PAGE>

misconduct, and results in and was intended to result in demonstrable material
injury to the Company, monetary or otherwise, or (ii) committed acts of fraud
and dishonesty constituting a felony, as determined by a final judgment or order
of a court of competent jurisdiction, and resulting or intended to result in
gain to or personal enrichment of the Executive at the Company's expense,
provided, however, that no termination of the Executive's employment shall be
--------  -------
for Cause as set forth in (i), above, until (a) Executive shall have had at
least sixty (60) days to cure any conduct or act alleged to provide Cause for
termination after a written notice of demand has been delivered to the Executive
specifying in detail the manner in which the Executive's conduct violates this
Agreement, and (b) the Executive shall have been provided an opportunity to be
heard by the Board (with the assistance of the Executive's counsel if the
Executive so desires). No act, or failure to act, on the Executive's part, shall
be considered "willful" unless he has acted or failed to act in bad faith and
without a reasonable belief that his action or failure to act was in the best
interest of the Company. Notwithstanding anything contained in this Agreement to
the contrary, no failure to perform by the Executive after Notice of Termination
is given by the Executive shall constitute Cause for purposes of this Agreement.

         (c)  Good Reason.
              -----------

                  (1) The Executive may terminate his employment for Good
         Reason. For purposes of this Agreement, "Good Reason" shall mean the
         occurrence after a Change of Control of any of the events or conditions
         described in Subsections (i) through (vi) hereof:

                           (i)    A change in the Executive's status, title,
                  position or responsibilities (including reporting
                  responsibilities) which, in the Executive's reasonable
                  judgment, does not represent a promotion from his status,
                  title, position or responsibilities as in effect immediately
                  prior thereto; the assignment to the Executive of any duties
                  or responsibilities which, in the Executive's reasonable
                  judgment, are inconsistent with his status, title, position or
                  responsibilities in effect immediately prior to such
                  assignment; or any removal of the Executive from or failure to
                  reappoint or reelect him to any position, except in connection
                  with the termination of his employment for Disability, Cause,
                  as a result of his death or by the Executive other than for
                  Good Reason;

                           (ii)   Any failure by the Company to comply with any
                  of the provisions of Section 4 of this Agreement.

                           (iii)  The insolvency or the filing (by any party,
                  including the Company) of a petition for bankruptcy of the
                  Company;

                           (iv)   Any material breach by the Company of any
                  provision of this Agreement;

                           (v)    Any purported termination of the Executive's
                  employment for Cause by the Company which does not comply with
                  the terms of Section 5 of this Agreement; and

                                       7
<PAGE>

                           (vi) The failure of the Company to obtain an
                  agreement, satisfactory to the Executive, from any successor
                  or assign of the Company, to assume and agree to perform this
                  Agreement, as contemplated in Section 10 hereof.

                  (2) Any event or condition described in Section 5(c)(1) which
         occurs prior to the Effective Date but which the Executive reasonably
         demonstrates (i) was at the request of a third party who has indicated
         an intention or taken steps reasonably calculated to effect a Change of
         Control, or (ii) otherwise arose in connection with or in anticipation
         of a Change of Control, shall constitute Good Reason for purposes of
         this Agreement notwithstanding that it occurred prior to the Effective
         Date.

                  (3) The Executive's right to terminate his employment pursuant
         to this Section 5(c) shall not be affected by his incapacity due to
         physical or mental illness. The Executive's continued employment or
         failure to give Notice of Termination shall not constitute consent to,
         or a waiver of rights with respect to, any circumstances constituting
         Good Reason hereunder.

                  (4) For purposes of this Section 5(c), any good faith
         determination of Good Reason made by the Executive shall be conclusive.
         Anything in this Agreement to the contrary notwithstanding, a
         termination by the Executive for any reason or for no reason during the
         sixty (60) day period commencing on the date six (6) months after the
         Effective Date shall be deemed to be a termination by the Executive for
         Good Reason for all purposes of this Agreement.

         (d) Voluntary Termination.  The Executive may voluntarily terminate
             ---------------------
his employment hereunder at any time.

         (e) Notice of Termination. Any purported termination by the Company or
             ---------------------
by the Executive (other than by death of the Executive) shall be communicated by
Notice of Termination to the other. For purposes of this Agreement, a "Notice of
Termination" shall mean a written notice which (i) indicates the specific
termination provision in this Agreement relied upon, (ii) to the extent
applicable, sets forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of the Executive's employment under the
provision so indicated, and (iii) the Termination Date. For purposes of this
Agreement, no such purported termination of employment shall be effective
without such Notice of Termination.

         (f) Termination Date, etc. "Termination Date" shall mean in the case of
             ---------------------
the Executive's death, his date of death, or in all other cases, the date
specified in the Notice of Termination subject to the following:

                  (1) If the Executive's employment is terminated by the
         Company, the date specified in the Notice of Termination shall be at
         least thirty (30) days after the date the Notice of Termination is
         given to the Executive, provided, however, that in the case of
                                 --------  -------
         Disability, the Executive shall not have returned to the full-time
         performance of his duties during such period of at least thirty (30)
         days;

                                       8
<PAGE>

                  (2) If the Executive's employment is terminated for Good
         Reason, the date specified in the Notice of Termination shall not be
         more than sixty (60) days after the date the Notice of Termination is
         given to the Company; and

                  (3) In the event that within thirty (30) days following the
         date of receipt of the Notice of Termination, one party notifies the
         other that a dispute exists concerning the basis for termination, the
         Executive's employment hereunder shall not be terminated except after
         the dispute is finally resolved and a Termination Date is determined
         either by a mutual written agreement of the parties, or by a binding
         and final judgment order or decree of a court of competent jurisdiction
         (the time for appeal therefrom having expired and no appeal having been
         perfected).

         6.  Obligations of the Company Upon Termination.
             -------------------------------------------

         (a) Good Reason; Other Than for Cause, Death or Disability. If, during
             ------------------------------------------------------
the Employment Term, the Company shall terminate the Executive's employment
other than for Cause or Disability or the Executive shall terminate employment
for Good Reason:

                  (i) The Company shall pay to the Executive in a lump sum in
         cash within five (5) days after the Termination Date the aggregate of
         the following amounts:

                           A.  The sum of:

                                    (1) The Executive's Annual Base Salary
                           through the Termination Date to the extent not
                           theretofore paid; and

                                    (2) The product of (x) the higher of (I) the
                           Recent Average Bonus and (II) the Annual Bonus paid
                           or payable, including any amount deferred, (and
                           annualized for any fiscal year consisting of less
                           than twelve (12) full months or for which the
                           Executive has been employed for less than twelve (12)
                           full months) for the most recently completed fiscal
                           year during the Employment Term, if any (such higher
                           amount being referred to as the "Highest Annual
                           Bonus.) and (y) a fraction, the numerator of which is
                           the number of days completed in the current fiscal
                           year through the Termination Date, and the
                           denominator of which is 365.

                           The sum of the amounts described in Clauses (1) and
                  (2) shall be hereinafter referred to as the "Accrued
                  Obligations";

                           B. The amount equal to the product of (1) three and
                  (2) the sum of (x) the Executive's Annual Base Salary
                  (increased for this purpose by any Section 401(k) deferrals,
                  cafeteria plan elections, or other deferrals that would have
                  increased Executive's Annual Base Salary if paid in cash to
                  Executive when earned) and (y) the Executive's Highest Annual
                  Bonus;

                           C. A separate lump-sum supplemental retirement
                  benefit equal to the difference between (1) the actuarial
                  equivalent (utilizing for this purpose the most

                                       9
<PAGE>

                  favorable to the Executive actuarial assumptions and Company
                  contribution history with respect to the applicable retirement
                  plan, incentive plans, savings plans and other plans described
                  in Section 4(c) (or any successor plan thereto) (the
                  "Retirement Plans") during the twelve (12) month period
                  immediately preceding the Effective Date) of the benefit
                  payable under the Retirement Plans and any supplemental and/or
                  excess retirement plan providing benefits for the Executive
                  (the "SERP") which the Executive would receive if the
                  Executive's employment continued for an additional three (3)
                  years after the Termination Date with annual compensation
                  equal to the sum of the Annual Base Salary and Highest Annual
                  Bonus, assuming for this purpose that all accrued benefits and
                  contributions are fully vested and that benefit accrual
                  formulas and Company contributions are no less advantageous to
                  the Executive than those in effect during the twelve (12)
                  month period immediately preceding the Effective Date, and (2)
                  the actuarial equivalent (utilizing for this purpose the
                  actuarial assumptions utilized with respect to the Retirement
                  Plans during the twelve (12) month period immediately
                  preceding the Effective Date) of the Executive's actual
                  benefit (paid or payable), if any, under the Retirement Plans
                  and the SERP. For example, if there were a termination today
                  this supplemental retirement benefit would be interpreted with
                  respect to two plans in existence today as follows: (i) with
                  respect to the Retirement Growth component of the retirement
                  program of the Company, the Executive would receive three
                  times eight percent (8%) (or twenty-four percent (24%)) of the
                  sum of the Executive's Annual Base Salary (determined in
                  accordance with subsection C of Section 6(a)(i)) and the
                  Executive's Highest Annual Bonus; and (ii) with respect to the
                  Incentive Savings component of the retirement plan of the
                  Company, the Executive would receive three times the annual
                  Company match of fifty percent (50%) of the Executive's
                  maximum allowable contribution to the Plan assuming
                  Executive's compensation is as set forth above; and

                           D. The amount equal to the product of (i) three and
                  (ii) the sum of (x) the imputed income reflected on
                  Executive's W-2 attributable to the car provided to Executive
                  by the Company or its affiliates for the last calendar year
                  ending before the Effective Date and (y) the club dues for
                  Executive paid by the Company or its affiliates attributable
                  to such year.

                  (ii) For thirty-six (36) months after the Termination Date,
         the Company shall continue to provide medical and dental benefits to
         the Executive and/or the Executive's family in accordance with the most
         favorable plans, practices, programs or policies of the Company and its
         affiliated companies applicable generally to other peer executives who
         are active employees and their families as in effect from time to time
         thereafter; provided, however, that if the Executive becomes reemployed
                     --------  -------
         with another employer and is eligible to receive medical or other
         benefits under another employer provided plan, the medical and other
         benefits described herein shall be secondary to those provided under
         such other plan during such applicable period of eligibility, provided
         that the aggregate coverage of the combined benefit plans is no less
         favorable to the Executive, in terms of amounts and deductibles and
         costs to him, than the coverage required hereunder. For purposes of

                                       10
<PAGE>

         determining eligibility of the Executive for retiree health insurance,
         the Executive shall be considered to have remained employed until the
         end of such thirty-six (36) month period and to have retired on the
         last day of such period. If the Executive would qualify at the end of
         such thirty-six (36) month period for retiree health insurance under
         the Company's plan guidelines as in existence on the Effective Date,
         the Company shall provide to the Executive and his or her spouse, for
         life, retiree health insurance, subsidized to at least the same
         percentage extent as under the Company's plan as in existence on the
         Effective Date. Such retiree health insurance shall provide medical
         benefits to the Executive and/or the Executive's spouse in accordance
         with the most favorable plans, practices, programs or policies of the
         Company and its affiliated companies applicable generally to other peer
         executives who are active employees and their spouses as in effect from
         time to time thereafter; provided, however, that if the Executive
                                  --------  -------
         and/or the Executive's spouse qualifies for coverage by Medicare or any
         successor program, the Company may require that the Executive and/or
         the Executive's spouse fully participate in Medicare and pay the
         premiums therefor personally.

                  (iii) The Executive shall have the right to purchase the car
         provided to him by the Company or its affiliates during the twelve (12)
         month period immediately preceding the Effective Date (or a comparable
         car acceptable to the Executive if such car is no longer owned by the
         Company or its affiliates), at the book value thereof on the
         Termination Date, exercisable within thirty (30) days after the
         Termination Date; and if the car is not purchased, Executive shall
         return the car to the Company.

                  (iv)  The Executive shall have the right to use reasonable
         office and secretarial assistance for a period of twelve (12) months
         after the Termination Date.

                  (v)   The Executive shall have the option of purchasing any
         life insurance owned by the Company or its affiliates on the life of
         Executive for the Company's investment in the contract, exercisable at
         any time within thirty (30) days after the Termination Date; and the
         Company agrees during the Employment Term not to terminate, sell,
         transfer or otherwise dispose of any such insurance without first
         allowing Executive the opportunity to exercise such option. For the
         thirty-six (36) month period after the Termination Date, the Company
         shall continue to provide group term life insurance (or comparable term
         coverage) in the same face amount and on substantially the same terms
         as in effect for the Executive just prior to the Effective Time. At the
         end of the thirty-six (36) month period, the Executive shall have any
         conversion rights as regards such coverage as are provided by law.

                  (vi) To the extent not theretofore paid or provided, the
         Company shall timely pay or provide to the Executive any other amounts
         or benefits required to be paid or provided or which the Executive is
         eligible to receive pursuant to this Agreement under any plan, program,
         policy or practice or contract or agreement of the Company and its
         affiliated companies (such other amounts and benefits shall be
         hereinafter referred to as the "Other Benefits).

                                       11
<PAGE>

Notwithstanding anything herein contained to the contrary, the payments and
benefits provided in this Section 6(a) (other than the Accrued Obligations)
shall not be paid or provided to the Executive unless and until he executes a
Complete and Permanent Release (the "Release") in the form attached hereto, and
the applicable period for rescission of the Release has expired. The parties
agree that the Release may be expanded to include any company acquiring the
Company and its affiliates as "Released Parties" as defined in the Release.

         (b) Death. If the Executive's employment is terminated by reason of the
             -----
Executive's death during the Employment Term, this Agreement shall terminate
without further obligations to the Executive's legal representatives under this
Agreement, except that the Company shall pay or provide the Accrued Obligations,
six (6) months of Annual Base Salary, and the Other Benefits. The Accrued
Obligations shall be paid to the Executive's estate or beneficiary, as
applicable, in a lump sum in cash within thirty (30) days of the Termination
Date. The six (6) months of Annual Base Salary shall be paid during the six (6)
month period following the Termination Date on a monthly basis. With respect to
the provision of Other Benefits, the term Other Benefits as utilized in this
Section 6(b) shall include, and the Executive's family shall be entitled to
receive, benefits at least equal to the most favorable benefits provided by the
Company and any of its affiliated companies to surviving families of peer
executives of the Company and such affiliated companies under such plans,
programs, practices and policies relating to family death benefits, if any, as
in effect with respect to other peer executives and their families at any time
during the twelve (12) month period immediately preceding the Effective Date or,
if more favorable to the Executive and/or the Executive's family, as in effect
on the date of the Executive's death with respect to other peer executives of
the Company and its affiliated companies and their families.

         (c) Disability. If the Executive's employment is terminated by reason
             ----------
of the Executive's Disability during the Employment Term, this Agreement shall
terminate without further obligations to the Executive, except that the Company
shall pay or provide the Accrued Obligations and the Other Benefits. The Accrued
Obligations shall be paid to the Executive in a lump sum in cash within thirty
(30) days of the Termination Date. With respect to the provision of Other
Benefits, the term Other Benefits as utilized in this Section 6(c) shall
include, and the Executive shall be entitled after the Disability Effective Date
to receive, disability and other benefits at least equal to the most favorable
of those generally provided by the Company and its affiliated companies to
disabled executives and/or their families in accordance with such plans,
programs, practices and policies relating to disability, if any, as in effect
generally with respect to other peer executives and their families at any time
during the twelve (12) month period immediately preceding the Effective Date or,
if more favorable to the Executive and/or the Executive's family, as in effect
at any time thereafter generally with respect to other peer executives of the
Company and its affiliated companies and their families.

         (d) Cause; Other Than for Good Reason. If the Executive's employment
             ---------------------------------
shall be terminated for Cause during the Employment Term, or if the Executive
voluntarily terminates employment during the Employment Term for other than Good
Reason, this Agreement shall terminate without further obligations to the
Executive other than the obligation to pay to the Executive Annual Base Salary
through the Date of Termination and any other amounts earned or accrued through
the Termination Date, in each case to the extent theretofore unpaid; provided

                                       12
<PAGE>

that if Executive voluntarily terminates, Executive shall receive the benefits
normally provided upon normal or early retirement with respect to other peer
Executives and their families to the extent he qualifies therefore All salary or
compensation hereunder shall be paid to the Executive in a lump sum in cash
within thirty (30) days of the Date of Termination.

         (e) Delinquent Payments. If any of the payments referred to in this
             -------------------
Section 6 are not paid within the time specified after the Termination Date
(hereinafter a "Delinquent Payment"), in addition to such principal sum, the
Company will pay to the Executive interest on all such Delinquent Payments
computed at the prime rate as announced from time to time by M&I Marshall &
Ilsley Bank, or its successor, compounded monthly. Notwithstanding the
foregoing, no interest shall be due and owing as regards payments which are
delayed because of Executive's failure to execute the Release or the recission
thereof.

         (f) Vacation Pay. In consideration of all payments made by the Company
             ------------
to the Executive pursuant to this Agreement, the Executive hereby waives any
claim he may have for accrued and unpaid vacation pay as of the Termination
Date.

         7. No Mitigation. In no event shall the Executive be obligated to seek
            -------------
other employment or take any other action by way of mitigation of the amounts
payable to the Executive under any of the provisions of this Agreement and such
amounts shall not be reduced (except to the extent set forth in Section
6(a)(ii)) whether or not the Executive obtains other employment.

         8.  Excise Tax Payments.
             -------------------

         (a) Notwithstanding anything contained in this Agreement to the
contrary, in the event that any payment or distribution to or for the benefit of
the Executive, whether paid or payable or distributed or distributable pursuant
to the terms of this Agreement or otherwise in connection with, or arising out
of, his employment with the Company (a "Payment" or "Payments"), would be
subject to the excise tax imposed by Section 4999 of the Internal Revenue Code
of 1986, as amended (the "Code")), or any interest or penalties are incurred by
the Executive with respect to such excise tax (such excise tax, together with
any interest and penalties, are collectively referred to as the "Excise Tax"),
then the Executive shall be entitled to receive an additional payment (a
"Gross-Up Payment") in an amount such that after payment by the Executive of all
taxes (including any interest or penalties imposed with respect to such taxes),
including any Excise Tax, imposed upon the Gross-Up Payment, the Executive
retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon
the Payments.

         (b) A determination shall be made as to whether and when a Gross-Up
Payment is required pursuant to this Section 8 and the amount of such Gross-Up
Payment, such determination to be made within fifteen (15) business days of the
Termination Date, or such other time as requested by the Company or by the
Executive (provided the Executive reasonably believes that any of the Payments
may be subject to the Excise Tax). Such determination shall be made by a
national independent accounting firm selected by the Executive (the "Accounting
Firm"). All fees, costs and expenses (including, but not limited to, the cost of
retaining experts) of the Accounting Firm shall be borne by the Company and the
Company shall pay such fees, costs and expenses as they become due. The
Accounting Firm shall provide detailed supporting

                                       13
<PAGE>

calculations, acceptable to the Executive, both to the Company and the
Executive. The Gross-Up Payment, if any, as determined pursuant to this Section
8(b) shall be paid by the Company to the Executive or paid by the Company on
behalf of the Executive to the applicable government taxing authorities by means
of payroll tax withholding if required by law or if timely requested by the
Executive within five (5) business days of the receipt of the Accounting Firm's
determination. If the Accounting Firm determines that no Excise Tax is payable
by the Executive with respect to a Payment or Payments, it shall furnish the
Executive with an unqualified opinion that no Excise Tax will be imposed with
respect to any such Payment or Payments. Any such initial determination by the
Accounting Firm of the Gross-Up Payment shall be binding upon the Company and
the Executive subject to the application of Section 8(c).

         (c) As a result of the uncertainty in the application of Sections 4999
and 280G of the Code, it is possible that a Gross-Up Payment (or a portion
thereof) will be paid which should not have been paid (an "Overpayment") or a
Gross-Up Payment (or a portion thereof) which should have been paid will not
have been paid (an "Underpayment"). An Underpayment shall be deemed to have
occurred upon notice (formal or informal) to the Executive from any governmental
taxing authority that the tax liability of the Executive (whether in respect of
the then current taxable year of the Executive or in respect of any prior
taxable year of the Executive) may be increased by reason of the imposition of
the Excise Tax on a Payment or Payments with respect to which the Company has
failed to make a sufficient Gross-Up Payment. An Overpayment shall be deemed to
have occurred upon a "Final Determination" (as hereinafter defined) that the
Excise Tax shall not be imposed upon a Payment or Payments with respect to which
the Executive had previously received a Gross-Up Payment. A Final Determination
shall be deemed to have occurred when the Executive has received from the
applicable governmental taxing authority a refund of taxes or other reduction in
his tax liability by reason of the Overpayment and upon either (i) the date a
determination is made by, or an agreement is entered into with, the applicable
governmental taxing authority which finally and conclusively binds the Executive
and such taxing authority, or in the event that a claim is brought before a
court of competent jurisdiction, the date upon which a final determination has
been made by such court and either all appeals have been taken and finally
resolved or the time for all appeals has expired or (ii) the expiration of the
statute of limitations with respect to the Executive's applicable tax return. If
an Underpayment occurs, the Executive shall promptly notify the Company and the
Company shall pay to the Executive at least five (5) business days prior to the
date on which the applicable governmental taxing authority has requested
payment, an additional Gross-Up Payment equal to the amount of the Underpayment
plus any interest and penalties imposed on the Underpayment. If an Overpayment
occurs, the amount of the Overpayment shall be treated as a loan by the Company
to the Executive and the Executive shall, within ten (10) business days of the
occurrence of such Overpayment, pay to the Company the amount of the Overpayment
plus interest at an annual rate equal to the rate provided for in Section
1274(b)(2)(B) of the Code from the date the Gross-Up Payment (to which the
Overpayment relates) was paid to the Executive.

         9. Unauthorized Disclosure. During the term of the Executive's
            -----------------------
employment with the Company, and during the two-year period following the
Termination Date, the Executive shall not make any Unauthorized Disclosure. For
purposes of this Agreement, "Unauthorized Disclosure" shall mean disclosure by
the Executive without the consent of the Board to any

                                       14
<PAGE>

person, other than an employee of the Company or a person to whom disclosure is
reasonably necessary or appropriate in connection with the performance by the
Executive of his duties as an executive of the Company or as may be legally
required, of any confidential information obtained by the Executive while in the
employ of the Company (including, but not limited to, any confidential
information with respect to any of the Company's customers or methods of
operation) the disclosure of which he knows or has reason to believe will be
materially injurious to the Company; provided, however, that such term shall not
                                     --------  -------
include the use or disclosure by the Executive, without consent, of any
information known generally to the public (other than as a result of disclosure
by him in violation of this Section 9) or any information not otherwise
considered confidential by a reasonable person engaged in the same business as
that conducted by the Company. Notwithstanding the foregoing, the Executive's
obligation hereunder not to make any Unauthorized Disclosure shall continue
after the end of the two-year period following his termination of employment
with the Company as regards any information which is a trade secret as defined
in Section 134.90 of the Wisconsin Statutes. In no event shall an asserted
violation of this Section 9 constitute a basis for deferring or withholding any
amounts otherwise payable to the Executive under this Agreement.

         10. Successors and Assigns.
             ----------------------

         (a) This Agreement shall be binding upon and shall inure to the benefit
of the Company, its successors and assigns and the Company shall require any
successor or assign (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform if no such succession or assignment had taken place. The
term "Company" as used herein shall include such successors and assigns. The
term "successors and assigns" as used herein shall mean a corporation or other
entity acquiring all or substantially all the assets and business of the Company
(including this Agreement) whether by operation of law or otherwise.

         (b) Neither this Agreement nor any right or interest hereunder shall be
assignable or transferable by the Executive, his beneficiaries or legal
representatives, except by will or by the laws of descent and distribution. This
Agreement shall inure to the benefit of and be enforceable by the Executive's
legal representative.

         11. Fees and Expenses. From and after the Effective Date, the Company
             -----------------
shall pay all legal fees and related expenses (including the costs of experts,
evidence and counsel) reasonably incurred by the Executive as they become due as
a result of (i) the Executive's termination of employment (including all such
fees and expenses, if any, incurred in contesting or disputing any such
termination of employment), (ii) the Executive's hearing before the Board as
contemplated in Section 5(b) of this Agreement, (iii) the Executive's seeking to
obtain or enforce any right or benefit provided by this Agreement or by any
other plan or arrangement maintained by the Company under which the Executive is
or may be entitled to receive benefits or (iv) a dispute between the Executive
and the Internal Revenue Service (or any other taxing authority) with regard to
an "Underpayment" (as defined in Section 8 of this Agreement).

                                       15
<PAGE>

         12. Notice. For the purposes of this Agreement, notices and all other
             ------
communications provided for in the Agreement (including the Notice of
Termination) shall be in writing and shall be deemed to have been duly given
when personally delivered or sent by certified mail, return receipt requested,
postage prepaid, if to the Company, to Marshall & Ilsley Corporation, 770 North
Water Street, Milwaukee, Wisconsin 53202, or if to Executive, to the address set
forth below Executive's signature, or to such other address as the party may be
notified, provided that all notices to the Company shall be directed to the
attention of the Board with a copy to the Secretary of the Company. All notices
and communications shall be deemed to have been received on the date of delivery
thereof or on the third business day after the mailing thereof, except that
notice of change of address shall be effective only upon receipt.

         13. Non-Exclusivity of Rights. Nothing in this Agreement shall prevent
             -------------------------
or limit the Executive's continuing or future participation in any benefit,
bonus, incentive or other plan or program provided by the Company or any of its
subsidiaries for which the Executive may qualify. Amounts which are vested
benefits or which the Executive is otherwise entitled to receive under any plan
or program of the Company or any of its subsidiaries shall be payable in
accordance with such plan or program, except as explicitly modified by this
Agreement.

         14. Settlement of Claims. The Company's obligation to make the payments
             --------------------
provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any circumstances, including, without
limitation, any set-off, counterclaim, recoupment, defense or other right which
the Company may have against the Executive or others.

         15. Miscellaneous. No provision of this Agreement may be modified,
             -------------
waived or discharged unless such waiver, modification or discharge is agreed to
in writing and signed by the Executive and the Company. No waiver by either
party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition or provision of this Agreement to be performed by
such other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time. No agreement or
representations, oral or otherwise, express or implied, with respect to the
subject matter hereof have been made by either party which are not expressly set
forth in this Agreement.

         16. Employment. The Executive and the Company acknowledge that the
             ----------
employment of the Executive by the Company is "at will" and prior to the
Effective Date, may be terminated by either the Executive or the Company at any
time. Moreover, if prior to the Effective Date, the Executive's employment with
the company terminates, the Executive shall have no further rights under this
Agreement.

         17. Governing Law. This Agreement shall be governed by and construed
             -------------
and enforced in accordance with the laws of the State of Wisconsin without
giving effect to the conflict of law principles thereof.

         18. Severability. The provisions of this Agreement shall be deemed
             ------------
severable and the invalidity or unenforceability of any provision shall not
affect the validity or enforceability of the other provisions hereof.

                                       16
<PAGE>

         19. Entire Agreement. This Agreement constitutes the entire agreement
             ----------------
between the parties hereto and supersedes all prior agreements, if any,
understandings and arrangements, oral or written, between the parties hereto
with respect to the subject matter hereof. In consideration of the terms,
conditions and benefits to be provided under this Agreement, the Executive
hereby expressly waives all rights under those certain Employment Agreements
between the Executive and the Company dated ____________ and
___________________.

         20. Headings.  The headings herein contained are for reference only
             --------
and shall not affect the meaning or interpretation of any provision of this
Agreement.

         21. Modification.  No provision of this Agreement may be modified or
             ------------
amended unless such modification or amendment is agreed to in writing signed by
both the Executive and the Company.

         22. Withholding. The Company shall be entitled to withhold from amounts
             -----------
paid to the Executive hereunder any federal, estate or local withholding or
other taxes or charges which it is, from time to time, required to withhold. The
Company shall be entitled to rely on an opinion of counsel if any question as to
the amount or requirement of any such withholding shall arise.

         IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed by its duly authorized officer and the Executive has executed this
Agreement as of the day and year first above written.

                                           MARSHALL & ILSLEY CORPORATION

                                           By: ________________________________
ATTEST:                                        Title:

__________________________________
Secretary

                                           EXECUTIVE:

                                           ____________________________________

                                           Address:  __________________________
                                                     __________________________

                                       17

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