First Busey Corporation 2020 Director Deferred Stock Unit Award Agreement
This agreement is between First Busey Corporation and a designated director participant. It grants the participant deferred stock units (DSUs), each representing the right to receive one share of company stock in the future, under the 2020 Equity Incentive Plan. The DSUs vest after one year unless the participant leaves the company, except in cases of death or a change in control, which cause immediate vesting. Shares are delivered after vesting, subject to tax withholding and compliance with laws. The agreement also provides for dividend equivalents but does not grant shareholder rights until settlement.
EXHIBIT 10.1
FIRST BUSEY CORPORATION
2020 EQUITY INCENTIVE PLAN
DIRECTOR DEFERRED STOCK UNIT AWARD
The Participant specified below has been granted this Deferred Stock Unit Award (the “Award”) by First Busey Corporation, a Nevada corporation (the “Company”), under the terms of the First Busey Corporation 2020 Equity Incentive Plan (the “Plan”). The Award is subject to the Plan and the following terms and conditions (the “Award Terms”):
Except for terms defined herein, any capitalized term in the Award Terms has the meaning ascribed to that term under the Plan.
IN WITNESS WHEREOF, the Company has caused the Award Terms to be executed in its name and on its behalf, all as of the Grant Date, and the Participant acknowledges understanding and acceptance of, and agrees to, the Award Terms.
FIRST BUSEY CORPORATION
By:
Its: President & CEO
PARTICIPANT
Date: