Exhibit 10.1

Mr. Van A. Dukeman

c/o First Busey Corporation

100 West University

Champaign, Illinois  61824-4028

Dear Van:

As you are aware, First Busey Corporation has implemented several changes in the executive management of the company.  As part of this management restructuring, on or about March 31, 2010, your position will remain President and Chief Executive Officer of First Busey Corporation and your duties will remain the same with the exception that you will no longer be the President and Chief Executive Officer of Busey Bank.

In this new position you will continue to report to the board of directors of First Busey. Your compensation and benefits will remain unchanged at this time, but may change when all management compensation is reviewed after the end of the first quarter of this year. You will continue to perform other duties as assigned by the board of directors.

Please confirm your acquiescence and agreement to the changes noted above as though such changes were reflected in your employment agreement with First Busey by signing below and returning a copy of this letter to Dave White.  This letter will act as an addendum to your employment agreement.

Thank you for your continued efforts.

I understand and agree to the foregoing changes to my job title and related job duties and responsibilities.