EX-10.1 2 ex10-1.htm EXHIBIT 10.1 ex10-1.htm

Exhibit 10.1

 

2017 Incentive Compensation Bonus Plan

 

 

 

 

 

 

 

 

Named Executive Goal Level

 

CEO Goal Level

Metric

 

 

 

($ in millions)

 

($ in millions)

#

Metric Description

Weight

 

  1

 2

 3

 4

 5

 

  1

 2

 3

 4

 5
                             

1

Pre-tax net income*

30%

 

$ 6.600

$ 7.100

$ 7.600

$ 8.100

$ 8.600

 

$ 6.600

$ 7.100

$ 7.600

$ 8.100

$ 8.600
 

  % of base pay to be earned in cash

    

0.0%

1.88%

3.75%

5.63%

7.50%

  

0.0%

3.75%

7.50%

11.25%

15.00%
 

  % of base pay to be earned in equity

    

0.0%

1.88%

3.75%

5.63%

7.50%

  

0.0%

1.88%

3.75%

5.63%

7.50%

2

Loan growth

20%

 

$  650.000

$   665.000

$   675.000

$  685.000

$  700.000

 

$  650.000

$  665.000

$  675.000

$   685.000

$  700.000

 

  % of base pay to be earned in cash

    

0.0%

1.25%

2.50%

3.75%

5.00%

  

0.0%

2.50%

5.00%

7.50%

10.00%
 

  % of base pay to be earned in equity

    

0.0%

1.25%

2.50%

3.75%

5.00%

  

0.0%

1.25%

2.50%

3.75%

5.00%

3

Non-interest expense*

15%

 

$ 30.200

$ 29.450

$ 28.700

$ 27.950

$ 27.200

 

$ 30.200

$ 29.450

$ 28.700

$ 27.950

$ 27.200
 

  % of base pay to be earned in cash

    

0.0%

0.94%

1.88%

2.81%

3.75%

  

0.0%

1.88%

3.75%

5.63%

7.50%
 

  % of base pay to be earned in equity

    

0.0%

0.94%

1.88%

2.81%

3.75%

  

0.0%

0.94%

1.88%

2.81%

3.75%

4

Core deposits**

20%

 

$  407.000

$   420.000

$  432.000

$   452.000

$  472.000

 

$  407.000

$   420.000

$  432.000

$   452.000

$   472.000

 

  % of base pay to be earned in cash

    

0.0%

1.25%

2.50%

3.75%

5.00%

  

0.0%

2.50%

5.00%

7.50%

10.00%
 

  % of base pay to be earned in equity

    

0.0%

1.25%

2.50%

3.75%

5.00%

  

0.0%

1.25%

2.50%

3.75%

5.00%

5

Asset quality***

15%

 

35%

30%

25%

20%

15%

 

35%

30%

25%

20%

15%
 

  % of base pay to be earned in cash

    

0.0%

0.94%

1.88%

2.81%

3.75%

  

0.0%

1.88%

3.75%

5.63%

7.50%
 

  % of base pay to be earned in equity

    

0.0%

0.94%

1.88%

2.81%

3.75%

  

0.0%

0.94%

1.88%

2.81%

3.75%

 

Max Cash Award as % of Salary

 

 

0.00%

6.25%

12.50%

18.75%

25.00%

 

0.00%

12.50%

25.00%

37.50%

50.00%
                             
 

Max Equity Award as % of Salary

 

 

0.00%

6.25%

12.50%

18.75%

25.00%

  

0.00%

6.25%

12.50%

18.75%

25.00%

 

 

Plan is based on 5 key performance metrics at bank level – no points earned for first column of achievement.

 

Up to 50% of base pay may be earned in cash bonus and up to 25% of base pay may be earned in share-based compensation for CEO; 25% for other named executive officers.

 

*Excludes gain on sale of securities, OTTI charges, and other non-recurring items as determined at the Compensation Committee’s discretion.

 

**Total Deposits excluding CD and IRA CD

 

***Classified assets to capital (substandard loans + OREO)/(Tier 1 equity capital + ALLL)