DEFERRED COMPENSATION PLAN NO. 1
Employment Agreement Deferring a Portion of Employee's Compensation
THIS AGREEMENT made effective this first day of January 1,2002, by and between Allied First Bank, a
corporation organized under the laws of the State of Illinois (the "Corporation"), and Kenneth L. Bertrand
residing in the City of St. Charles, Illinois (the "Employee").
In consideration of the agreements hereinafter contained the parties hereto agree as follows:
1. The Corporation agrees to employ the Employee and the Employee agrees to serve the corporation in such
capacity as the Board of Directors of the Corporation (the "Board") may designate from time to time, beginning
January 1, 2002 and continuing until terminated by either party on at least 90 days prior written notice to the
2. During the term of his employment, the Employee shall devote all of his time, attention, skill, and efforts to the
performance of his duties for the Corporation.
3. The Corporation shall pay the Employee beginning January 1, 2002, and continuing during the term of his
employment hereunder such salary payable monthly as the Board may from time to time determine together with
deferred compensation payable as provided in paragraph 5 below, unless forfeited by the occurrence of any of
the events of forfeiture specified in paragraph 7, below.
(a) The Corporation shall credit to a book reserve (the "Deferred Compensation Account") established for this
purpose, $8,500.00 on the last day of January, 2002.
(b) Any such funds so credited to the Deferred Compensation Account may be kept in cash or invested and
reinvested in mutual funds, stocks, bonds, securities, or any other assets as may be selected by the Board in its
discretion. In the exercise of the foregoing discretionary investment powers, the Board may engage investment
counsel and, if it so desires, may delegate to such counsel full or limited authority to select the assets in which the
funds are to be inv