Director Compensation Agreement for Midwest Banc Holdings, Inc. and Midwest Bank and Trust Company (2005)

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Summary

This agreement outlines the compensation structure for non-officer directors of Midwest Banc Holdings, Inc. and its subsidiary, Midwest Bank and Trust Company, for 2005. Directors receive fees for attending board and committee meetings, as well as annual retainers. Compensation varies by committee and role, with specific amounts set for each type of meeting and for the Audit Committee Chairman. The agreement ensures directors are compensated for their participation and responsibilities throughout the year.

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EX-10.29 3 c92636exv10w29.htm DIRECTOR COMPENSATION exv10w29  

EXHIBIT 10.29

Director Compensation

      During the fourth quarter of 2004 and January of 2005, the Board of Directors of Midwest Banc Holdings, Inc. or its subsidiary, Midwest Bank and Trust Company, established directors fees for 2005 for non-officer directors as follows:

         
    Midwest Banc Holdings, Inc.   Midwest Bank and Trust Company
Board Meetings:
  $1,000 per meeting attended   $1,000 per meeting attended
 
        
Committee Meetings:
  $750 per meeting attended for Audit
Committee members 		  $500 per meeting attended
for Loan Committee members
 
        
  $500 per meeting attended for
Corporate Governance Committee
members 		  $300 per quarter for Risk
Management members
 
        
  $500 per meeting attended for
Compensation Committee members		    
 
        
  $500 per meeting attended for
Nominating Committee members		    
 
        
Annual Retainer:
  $15,000 for Board   $4,000 for Board
 
        
  $18,000 for Audit Committee Chairman