Shelby County Bank 2005 Executive Bonus Plan

Summary

This agreement outlines the 2005 Executive Bonus Plan for Shelby County Bank, covering participants Randy Collier, Larry Lux, Patrice Lima, Terry Smith, Ron Lanter, and Jim Matson. The plan establishes a bonus pool equal to 15% of participants' base salaries, with distribution based on the bank's return on average equity and achievement of specific financial and operational goals. Individual bonus amounts are determined by the Board of Directors, with input from the Compensation Committee and CEO. The plan sets clear performance targets and links bonus payouts to the bank's results for the year.

EX-10.1 2 c93707exv10w1.txt FORM OF SHELBY COUNTY BANK EXECUTIVE BONUS PLAN FOR 2005 EXHIBIT 10.1 SHELBY COUNTY BANK EXECUTIVE BONUS PLAN FOR 2005 Participants - Randy Collier - Larry Lux - Patrice Lima - Terry Smith - Ron Lanter - Jim Matson Accrual of Bonus Pool: 15% of the base salaries of the participants as of 1/1/05: Goals: - Net Earnings After Tax of $ _____________________________ - Total Assets on 12/31/05 of $ ___________________________ - Loan Loss Provision of no more than $ ___________________ - Maintain/improve credit quality - Reduce ORE and non-accruals - Achieve a ratings increase - Develop "A" employees Amount of Pool to be distributed to the Group: Return on Average Equity Distribution 0-4% 0% 5% 50% 6% 60% 7% 70% 8% 80% 9% 90% 10% 100% 11% 110% 12% 120% Amount of Distribution to be allocated to Individuals: - - Randy Collier - suggested by the Compensation Committee and determined by the Board of the Directors - - All other - with guidance from the CEO, suggested by the Compensation Committee and determined by the Board of Directors