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[FIRST BUSINESS CAPITAL CORP.
LETTERHEAD]
December 12, 2005
Mr. Charles H. Batson
13315 W. Eagle Trace
New Berlin, WI 53151
Dear Chuck:
We are pleased to confirm our
offer of employment as President & CEO and Director of First
Business Capital Corp. (FBCC). The terms noted in this letter
supersede any we have discussed previously. If the conditions set
out below are acceptable to you, please sign this letter and the
REPAYMENT AGREEMENT and return it by December 19, 2005.
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Starting
Date:
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On or about
January 3, 2006
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Starting
Salary:
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$15,834 per
month
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Title:
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President &
CEO and Director of FBCC
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Officer
Bonus
Program:
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You will be
eligible for the board approved officer bonus program beginning in
2006. Your bonus will be calculated as a percentage of base
compensation and ranges from 0% - 75%, with a targeted payout of
35%. Payment is based on company (holding company and FBCC) and
individual performance.
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Auto
Allowance:
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$325/month,
plus .30/mile
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Restricted
Stock:
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You will
receive 6,000 restricted shares of First Business Financial
Services, Inc. stock. The options will vest 25% per year for four
years.
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Signing
Bonus:
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You will
receive a $150,000 signing bonus, subject to all applicable tax
withholding, which will be payable in two installments. The first
payme
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