Exhibit 10.26
AMENDMENT TO OUTSOURCING AGREEMENT
THIS AMENDMENT, to the Outsourcing Agreement dated July 1, 1999, (the “Agreement”) is made as of this day of , 2006, by and between the undersigned parties, and does hereby alter, amend, and modify the Agreement and supersedes and takes precedence over any conflicting provisions contained in the Agreement.
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, the undersigned parties agree as follows:
1.Amendment to the Agreement.
a. Effective July 1, 2006 the Wealth Management Services shall be extended for an addition eight (8) years terminating on June 30, 2014.
b. Effective July 1, 2006, in addition to the Wealth Management Services provided under the Agreement, Customer desires and Metavante agrees to provide additional services in accordance withExhibit A.
c. Effective July 1, 2006 the Electronic Funds Delivery (EFD) Services shall be extended for an additional eight (8) years terminating on June 30, 2014.
d. Metavante agrees to the terms and conditions regarding the EFD Services in accordance withExhibit B.
e. Effective July 1, 2006 the Business Internet Banking (BIB) Services shall be extended for an additional three (3) years and shall automatically renew at the end of the Term on the same terms (including pricing terms) for twelve-month periods unless earlier terminated or unless Customer provides Metavante with written notice of non-renewal at one-hundred twenty (120) days prior to the expiration of the Term.
f. The monthly base fee for the Business Internet Banking (BIB) Services as described in the Amendment
dated July 1, 2004 shall be amended as set forth inExhibit B.
g. Effective July 1, 2006 the Consumer Internet Banking (CeB) Services pricing shall be modified in accordance withExhibit B.
h. In addition to the Consumer Internet Banking (CeB) Services provided under the Agreement, Customer desires and Metavante agrees to provide Direct Bill Pay Services in accordance withExhibit C.Customer agrees to pay for the fees associated with Direct Bill Pay Services as set forth onExhibit D. These services are subject to additional terms outlined inExhibit E.
i. Effective July 1, 2006 the Credit Card (Business) Services shall be extended for an additional eight (8)
years terminating on June 30, 2014.
j. Effective July 1, 2006 Metavante shall provide monthly discounts on processing fees as outlined inExhibit B.
2.Continuance of Agreement. Except as amended herein, the conditions and terms of the Agreement shall remain in full force and effect.
3.Binding Agreement. The parties hereto acknowledge that each has read this Amendment, understands it, and agrees to be bound by its terms and conditions as stated herein.
4.Miscellaneous. Capitalized terms used in this Amendment, which are not otherwise defined herein, shall have the meanings ascribed thereto in the Agreement.
IN WITNESS WHEREOF, the undersigned parties have duly executed this Amendment in a manner appropriate to each.
| © 2006 Metavante Corporation | 1 | First Midwest Bancorp, Inc Amend 060506 |
| METAVANTE CORPORATION (“Metavante”) | ||
| By: | /s/ Paul T. Danola | |
| Name: | Paul T. Danola | |
| Title: | President and Chief Operating Officer | |
| Financial Solutions Group | ||
| By: | /s/ James R. Geschke | |
| Name: | James R. Geschke | |
| Title: | Executive Vice President | |
| Financial Technology Solutions | ||
| FIRST MIDWEST BANCORP, INC. (“Customer”) | ||
| By: | /s/ Kent Belasco | |
Name: | Kent Belasco | |
Title: | EVP/CIO | |
| © 2006 Metavante Corporation | 2 | First Midwest Bancorp, Inc Amend 060506 |