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AMENDED AND RESTATED
A. Effective the 13 th day of November, 1990, West Suburban Bancorp, Inc., a banking organization organized and existing under the laws of the State of Illinois (“Corporation”), and [Executive Name] , a Key Employee and Executive of the Corporation (“Executive”), entered into a Deferred Compensation and Split-Dollar Insurance Agreement and amended and restated the agreement in its entirety, effective April 12, 2001 (“2001 Amended and Restated Life Insurance Agreement”). Pursuant to the terms thereof, the Corporation and the Executive reserved the right to modify or amend the 2001 Amended and Restated Life Insurance Agreement. By execution hereof, the Corporation and Executive hereby amend and restate that agreement in its entirety, effective March 8, 2004 (“Amended and Restated Life Insurance Agreement”).
B. It is the consensus of the Board of Directors of the Corporation that Executive’s services are of exceptional merit, in excess of the compensation paid and an invaluable contribution to the profits and position of the Corporation in its field of activity.
C. It is the mutual desire of the Corporation and the Executive that Executive remain in the employ of the Corporation, and to maintain a program to provide pre-retirement and postretirement death benefits for the Executive. Accordingly, it is the desire of the Corporation and the Executive to enter into this Amended and Restated Life Insurance Agreement under which the Corporation will agree to pay a death benefit to the Executive’s beneficiaries in the event of his death.
D. Therefore, in consideration of Executive’s services to be performed in the future, and based upon the mutual promises and covenants herein contained, the Corporation and Executive agree as follows.