EX-10.1 2 j0206_ex10-1.htm Prepared by MerrillDirect

Exhibit 10.1

 

 

 

 

 

 

 

 

 

COMMUNITY FIRST BANKSHARES, INC.

ANNUAL INCENTIVE PLAN

2000

 

2000 AIP
     
GROUP
  TARGET INCENTIVE
MAXIMUM
     I CEO 50% 100%
       
     II VICE CHAIRS/EVP’S 35% 70%
       
     III SVP’S 25% 50%
       
     IV VP’S 15% 30%

 

SPLIT 50% INTERNAL & 50% EXTERNAL
   
  TARGET
INTERNAL
EXTERNAL
          I 50% 25% 25%
       
          II 35% 17.5% 17.5%
       
          III 25% 12.5% 12.5%
       
          IV 15% 7.5% 7.5%

 

INTERNAL AWARD CALCULATION
 

Based on performance versus plan EPS as target.
No award if less than 90% of plan.
Double internal amount @ 110% of plan (see schedule).
Round up at .5 (plan) and down at <.5.

 

      Award % of Base Salary
 
  % of Plan
Fully Diluted
EPS
  I
  II
  III
  IV
90.00% $1.530 0.000% 0.000% 0.000% 0.000%
91.00% $1.547 2.500% 1.750% 1.250% 0.750%
92.00% $1.564 5.000% 3.500% 2.500% 1.500%
93.00% $1.581 7.500% 5.250% 3.750% 2.250%
94.00% $1.598 10.000% 7.000% 5.000% 3.000%
95.00% $1.615 12.500% 8.750% 6.250% 3.750%
96.00% $1.632 15.000% 10.500% 7.500% 4.500%
97.00% $1.649 17.500% 12.250% 8.750% 5.250%
98.00% $1.666 20.000% 14.000% 10.000% 6.000%
99.00% $1.683 22.500% 15.750% 11.250% 6.750%
100.00% $1.700 25.000% 17.500% 12.500% 7.500%
101.00% $1.717 27.500% 19.250% 13,750% 8.250%
102.00% $1.734 30.000% 21.000% 15.000% 9.000%
103.00% $1.751 32.500% 22.750% 16.250% 9.750%
104.00% $1.768 35.000% 24.500% 17,500% 10.500%
105.00% $1.785 37.500% 26.250% 18.750% 11.250%
106.00% $1.802 40.000% 28.000% 20.000% 12.000%
107.00% $1.819 42.500% 29.750% 21.250% 12.750%
108.00% $1.836 45.000% 31.500% 22.500% 13.500%
109.00% $1.853 47.500% 33.250% 23.750% 14.250%
110.00% $1.870 50.000% 35.000% 25.000% 15.000%

 

EXTERNAL AWARD CALCULATION
 

SNL peer group (30 banks) for current performance year based on group as of 12/31/98.

Combines incentive for Return on Equity (ROE) and Total Shareholder Return (TSR) (see matrix).

SNL 20 Bank Group

 

Percentile 85th or higher 100% 150% 200%
ROE 50th* 50% 100% 150%
  49th or lower 0% 50% 100%
    49th or lower 50th * 85th or higher
        Percentile TSR

 

*Award will be prorated from 50th% to 85th%.

External award calculation:

      % of Salary at Performance Level
  Target
  50%
100% 150% 20%
I 25%   12.5% 25% 37.5% 50%
II 17.5%   8.75% 17.5% 26.25% 35%
III 12.5%   6.25% 12.5% 18.75% 25%
IV 7.5%   3.75% 7.5% 11.25% 15%

The Selected Peer Group reflects our selection of the 29 other institutions most like the subject institution to be used as a peer group in comparing relative compensation levels.  The automated process searches in sequence for:

1. Banks in the same state within 40% of total assets.
2. Banks in the same region within 40% of total assets.
3. Banks in the same state within 80% of total assets.
4. Banks in the same region within 80% of total assets.
5. Any bank within 40% of total assets.
6. Any bank within 80% of total assts.
7. Banks closest in asset size.

If at any point in the sequence 29 banks are found, the sequence stops and those banks form the Selected Peer Group.  If step six is reached and there are still not 29 other banks, the banks closest in asset size any where in the country are chosen to round out the peer group.