Re: Release Agreement

Re:

Release Agreement

1.

Subject to your execution and continued compliance with the terms and conditions of this Release Agreement, the Company has agreed to provide you with a severance payment in an amount totaling $51,924.00 (gross), less all applicable payroll taxes and required or permitted withholdings (the “ Severance Payment ”).

2.

Your Severance Payment has been calculated as shown on the Severance Calculation Worksheet. The payment to be paid as soon as practicable after the Release Effective Date (as defined below) and in any event no later than 60 days following the Release Effective Date. If you are offered and accept another employment opportunity with the Company before any portion of the Severance Payment has been made or commenced, you will no longer be eligible for any Severance Payment, and this Release Agreement will be null and void. Further, if any portion of the Severance Payment has been made, and you are then offered re-employment with the Company, your eligibility for any remaining portions of the Severance Payment will terminate as a condition of re-employment and the Company will not provide you with any additional portions of the Severance Payment from the date you become re-employed by the Company. If any portion of the Severance Payment has been paid to you prior to such date, this Release Agreement will not be null and void and will remain in effect, even if you do not receive the full amount of the original Severance Payment. You understand and agree that this Release Agreement, and the payments provided thereunder shall in no way be deemed to constitute or give rise to a continuing employment relationship between you and the Company after your Termination Date or entitle you to any other benefits to which employees of the Company may be entitled after your Termination Date. The Severance Payment is in addition to all wages and unused vacation earned through the Termination Date.

3.

You acknowledge and agree that you are not otherwise entitled to receive the Severance Payment unless you agree to the terms of this Release Agreement. In exchange for the Severance Payment, you, on behalf of yourself and your heirs, executors, administrators, successors and assigns, hereby knowingly and voluntarily release the Company and any and all of its parent, subsidiary, affiliated or related companies, together with each of their officers, stockholders, directors, employees, agents, insurers and reinsurers, attorneys and representatives, and all of their, predecessors, successors, heirs, and assigns (collectively, the “ Releasees ”), from all claims, demands, causes of action, obligations, damages and liabilities of every kind or character whatsoever, whether presently known or unknown, suspected or unsuspected, both in law and equity (“ Claims ”),which you ever had, now have or may hereafter claim to have against any of the Releasees by reason of any matter, cause or thing whatsoever arising from the beginning of time until the date you sign this Release Agreement (the “ Release ”). T HIS R ELEASE INCLUDES , WITHOUT LIMITATION , ANY C LAIMS IN CONNECTION WITH YOUR EMPLOYMENT AND / OR THE TERMINATION OF YOUR EMPLOYMENT ; C LAIMS OF LIBEL , SLANDER , WRONGFUL DISCHARGE , INTENTIONAL INFLICTION OF EMOTIONAL HARM , FRAUD OR ANY OTHER STATE OR FEDERAL TORT ; C LAIMS UNDER ANY STATUTE OR REGULATION , INCLUDING BUT NOT LIMITED TO , THE A GE D ISCRIMINATION IN E MPLOYMENT A CT OF 1967, THE O LDER W ORKERS B ENEFIT P ROTECTION A CT , THE A MERICANS WITH D ISABILITIES A CT OF 1990, T ITLE VII OF THE C IVIL R IGHTS A CT OF 1964, THE C IVIL R IGHTS A CT OF 1991, S ECTIONS 1981 THROUGH 1988 OF T ITLE 42 OF THE U NITED S TATES C ODE , THE E MPLOYEE R ETIREMENT I NCOME S ECURITY A CT OF 1974, THE W ORKER A DJUSTMENT AND R ETRAINING N OTIFICATION A CT OF 1988, THE F AMILY AND M EDICAL L EAVE A CT OF 1993, THE S ARBANES O XLEY A CT OF 2002, EACH AS AMENDED , OR UNDER ANY OTHER FEDERAL , STATE OR LOCAL LAW , REGULATION , ORDINANCE OR COMMON LAW ; AND ALL C LAIMS UNDER ANY POLICY , AGREEMENT , UNDERSTANDING OR PROMISE , WRITTEN OR ORAL , FORMAL OR INFORMAL , BETWEEN YOU AND THE C OMPANY OR ANY OF THE OTHER R ELEASEES . The parties recognize, however, that nothing contained in this Release shall (i) release any claim that cannot be waived under applicable law, including but not limited to, any rights to indemnification under applicable state law, (ii) release any claim that first arises after the Release Effective Date, (iii) affect any vested employee benefits or pension payments to which you may be entitled under any of the Company’s existing employee benefit plans (as defined in 29 U.S.C. §1002(3)), (iv) release any claim for compensation under the (a) AMCORE Investment Services, Inc. Financial Advisor and Licensed Banker Compensation Plan, (b) AMCORE Bank N.A. Mortgage Loan Originator, Authorized Staff and Mortgage Team Leader Compensation Plan, (c) AMCORE Investment Group a division of AMCORE Bank, N.A. Retirement Plan Services Specialist Compensation Plan, and/or (d) AMCORE Investment Group a division of AMCORE Bank, N.A. Insurance Sales Advisor & Insurance Sales Manager Compensation Plan (collectively, the “ Incentive Compensation Plans ”) (which claims, if any, shall be governed solely by the terms of those Incentive Compensation Plans, applicable state and federal

laws and the Company’s general policies and procedures regarding the payment of compensation), (v) release any claim to stock options under the (a) AMCORE Financial, Inc. 1995 Stock Incentive Plan, (b) AMCORE Financial, Inc. 2000 Stock Incentive Plan, (c) AMCORE Financial, Inc. 2005 Stock Award & Incentive Plan, and/or (d) Amended and Restated AMCORE Stock Option Advantage Plan (collectively, the “ Stock Option Plans ”) (which claims, if any, shall be governed solely by the terms of those Stock Option Plans and applicable state and federal laws), (vi) release any claim for deferred compensation under the (a) AMCORE Financial, Inc. Amended and Restated Deferred Compensation Plan Effective June 1, 2003, or the AMCORE Financial, Inc. Deferred Compensation Plan Effective January 1, 2005 (collectively, the “ Deferred Compensation Plans ”) (which claims, if any, shall be governed solely by the terms of those Deferred Compensation Plans and applicable state and federal laws), or (vii) be construed to prohibit you from instituting legal action to enforce any of the provisions of this Release Agreement. By signing this Release Agreement, you represent that neither you nor your heirs, executors, administrators, successors or assigns shall be entitled to any personal recovery in any action or proceeding that may be commenced on your behalf arising out of the matters released above.

4.

You acknowledge and agree that except as specified in Paragraphs 1 and 2 above, and except for claims expressly excluded from the Release in Paragraph 3 above, all compensation, benefits, and other obligations due you b