Midland States Bancorp,Inc. (NASDAQ:MSBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Midland States Bancorp,Inc. (NASDAQ:MSBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December15, 2017, Midland States Bancorp,Inc. (the “Company”) entered into amendments to employment agreements with each of Leon J. Holschbach, President and Chief Executive Officer of the Company, Jeffrey G. Ludwig, Executive Vice President and Chief Financial Officer of the Company, and Douglas J. Tucker, Senior Vice President and Corporate Counsel of the Company. The amendments increase each individual’s performance-based bonus target, set each individual’s long-term incentive bonus percentage, and confirm that the employment agreements are not intended to impede protected whistleblower activity.

The foregoing descriptions of the amendments to the employment agreements for each of Mr.Holschbach, Mr.Ludwig and Mr.Tucker are qualified in their entirety by the text of the respective amendments to the employment agreements, attached hereto as Exhibits 10.1, 10.2 and 10.3, respectively.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

ExhibitNo.

Description

10.1

Amendment No.1 to Transitional Employment Agreement, dated as of December15, 2017, between Midland States Bancorp,Inc., Midland States Bank and Leon J. Holschbach

10.2

Amendment No.2 to Employment Agreement, dated as of December15, 2017, between Midland States Bancorp,Inc., Midland States Bank and Jeffrey G. Ludwig

10.3

Amendment No.1 to Employment Agreement, dated as of December15, 2017, between Midland States Bancorp,Inc., Midland States Bank and Douglas J. Tucker


Midland States Bancorp, Inc. Exhibit
EX-10.1 2 a17-28630_1ex10d1.htm EX-10.1 Exhibit 10.1   AMENDMENT NO. 1 TO TRANSITIONAL EMPLOYMENT AGREEMENT   THIS AMENDMENT NO. 1 TO TRANSITIONAL EMPLOYMENT AGREEMENT (this “Amendment”) is made and entered into as of December 15,…
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About Midland States Bancorp,Inc. (NASDAQ:MSBI)

Midland States Bancorp, Inc. is a diversified financial holding company. The Company’s banking subsidiary is Midland States Bank (the Bank). The Company’s principal business activity has been lending to and accepting deposits from individuals, businesses, municipalities and other entities. The Company’s segments include Banking, which provides a range of financial products and services to consumers and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services; Commercial Federal Housing Administration (FHA) Origination and Servicing, which provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities, and Other, which includes the operating results of the Company and its wealth management business unit.