CFS Bancorp, Inc. 2008 Cash Incentive Compensation Program for Officers and Key Employees
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Summary
CFS Bancorp, Inc. established a 2008 Cash Incentive Compensation Program for its officers and key employees, as approved by the Compensation Committee. The program offers cash bonuses based on the company's or individual's performance against specific objectives, which may include corporate, individual, or business unit goals. Bonuses are expected to be paid in February 2009, but only to those who are still employed by the company or its affiliates at the time of payment.
EX-10.15 8 exhibit10-15_033108.htm EXHIBIT 10.15 03-31-08 exhibit10-15_033108.htm
Exhibit 10.15
CFS Bancorp, Inc. 2008 Cash Incentive Compensation Program
On April 29, 2008, the Compensation Committee of the Board of Directors approved a Cash Incentive Compensation Program (Cash Incentive Program) for officers and key employees. The Cash Incentive Program provides for an opportunity of a cash bonus based on the actual performance of the Company or the individual relative to established performance objectives. These objectives are position specific and include a mix of corporate, individual and, where relevant, business unit measures.
Bonuses under the Cash Incentive Program are expected to be paid in February 2009. If the performance targets are achieved, a person will be entitled to receive a bonus only if he or she is employed by the Company or one of its affiliates on the bonus payment date.
