The Farmers National Bank of Emlenton Executive Management Bonus Plan Summary
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Bonus & Incentive Agreements
Summary
This agreement outlines the Executive Management Bonus Plan for The Farmers National Bank of Emlenton. It provides annual bonuses to executive management employees, including the President, Chief Lending Officer, Chief Operating Officer, Human Resources Director, and Controller. Bonus amounts are determined as a percentage of each executive's annual salary and are contingent on the bank achieving certain return on average equity (ROE) targets. The plan is overseen by the Human Resources Committee, reviewed annually, and any changes require approval from the Board of Directors.
EX-10.4 2 a4896070ex104.txt EMCLAIRE FINANCIAL CORP. EXHIBIT 10.4 EXHIBIT 10.4 THE FARMERS NATIONAL BANK OF EMLENTON EXECUTIVE MANAGEMENT BONUS PLAN (SUMMARY) The Farmers National Bank of Emlenton Executive Management Plan provides for an annual bonus to Executive Management employees of the Bank (President, Chief Lending Officer, Chief Operating Officer, Human Resources Director, and Controller). Bonuses (based on a percentage of the executive's annual salary) are based on the Bank achieving a minimum return on average equity ("ROE"). Executives are eligible for varying levels of bonuses in the event the Bank achieves targeted levels of ROE (entry level, goal and maximum). The plan is administered by the Human Resources Committee and reviewed annually by the Committee with any changes being recommended to the full Board of Directors of the Bank for approval.
