EX-10.1 3 h95154ex10-1.txt SUMMARY OF AGREEMENTS AS TO PAYMENT OF BONUSES EXHIBIT 10.1 STEWART INFORMATION SERVICES CORPORATION AND SUBSIDIARIES EXECUTIVE OFFICERS BONUS PLANS DECEMBER 31, 2001 The following summarizes the terms of the bonus arrangements approved our Compensation Committee with respect to our executive officers: MALCOLM S. MORRIS, as Chairman of the Board and Co-Chief Executive Officer, shall receive in addition to his salary, 1% on the first $20,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .75% of the profits from $20,000,001 to $40,000,000, .50% of the profits from $40,000,001 to $60,000,000 and .25% of the profits exceeding $60,000,000. For the calendar year 2001, Mr. Morris shall receive no less than $250,000 in bonus compensation. For the calendar year 2001, Mr. Morris received $500,660 in bonus compensation. STEWART MORRIS, JR., as President and Co-Chief Executive Officer, shall receive in addition to his salary, 1% on the first $20,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .75% of the profits from $20,000,001 to $40,000,000, .50% of the profits from $40,000,001 to $60,000,000 and .25% of the profits exceeding $60,000,000. For the calendar year 2001, Mr. Morris shall receive no less than $250,000 in bonus compensation. For the calendar year 2001, Mr. Morris received $500,660 in bonus compensation. CARLOSS MORRIS, as Chairman of the Executive Committee, shall receive in addition to his salary, 1% of the first $16,500,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder. For the calendar year 2001, Mr. Morris shall receive no more than $165,000 in bonus compensation. For the calendar year 2001 Mr. Morris received $165,000 in bonus compensation. STEWART MORRIS, as Vice Chairman of the Executive Committee, shall receive in addition to his salary, 1% of the first $16,500,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder. For the calendar year 2001, Mr. Morris shall receive no more than $165,000 in bonus compensation. For the calendar year 2001 Mr. Morris received $165,000 in bonus compensation. MAX CRISP, as Vice President - Finance, shall receive in addition to his salary, .5% of the first $50,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .40% of the profits from $50,000,001 to $75,000,000, .30% of the profits from $75,000,001 to $100,000,000 and .20% of the profits exceeding $100,000,000. For the calendar year 2001, Mr. Crisp shall receive no less than $126,000 in bonus compensation. For the calendar year 2001 Mr. Crisp received $365,792 in bonus compensation.