First Midwest Bancorp, Inc. 2010 Executive Compensation Summary
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Summary
This document outlines the 2010 base salaries for key executive officers of First Midwest Bancorp, Inc., as determined by the Compensation Committee. It lists the annual base pay for the President and CEO, Group Presidents, Executive Vice Presidents, and the CFO. These executives are also eligible for various company benefit and incentive plans, and have agreements that provide for payments in the event of severance or a change in control. The summary reflects compliance with applicable regulations on executive compensation.
EX-10.28 10 dex1028.htm SUMMARY OF EXECUTIVE COMPENSATION Summary of Executive Compensation
Exhibit 10.28
Summary of Executive Compensation
The Compensation Committee of the Board of Directors (the “Compensation Committee”) of First Midwest Bancorp, Inc. (the “Company”), after considering a market review of total compensation and applicable regulations limiting executive compensation for certain executive officers expected to be named in the Company’s 2010 Proxy Statement, determined the 2010 base salary for such officers, which is presented in the table below.
| Name and Principal Positions | 2010 Base Salary |
| Mr. Michael L. Scudder, President and Chief Executive Officer | $1,008,884 |
| Mr. Thomas J. Schwartz, Group President Commercial Banking | 682,987 |
| Mr. Paul F. Clemens, Executive Vice President and Chief Financial Officer | 388,438 |
| Mr. Victor P. Carapella, Executive Vice President and Commercial Banking Group Manager | 362,815 |
| Ms. Janet M. Viano, Group President Retail Banking | 236,000 |
Each of these officers is also eligible to receive certain benefits and to participate in the Company’s employee benefit plans applicable to executive officers, including the Company’s Savings and Profit Sharing Plan, Pension Plan, Short-Term Incentive Compensation Plan, the Omnibus Stock and Incentive Plan, and Nonqualified Retirement Plan in accordance with the terms and conditions of such plans. These officers are also parties to Indemnification Agreements and Employment Agreements that, among other things, entitle them to payments upon severance or upon a change in control.
