Enterprise Bancorp Executive Officer Supplemental Bonus Table for Fiscal Year 2006
This agreement outlines the supplemental bonus structure for certain executive officers of Enterprise Bancorp for the 2006 fiscal year. The bonus each executive receives is based on the company's net income growth compared to the previous year, with specific percentages of base salary awarded at various growth levels. The table lists the eligible executives and the corresponding bonus percentages tied to net income growth milestones. The agreement sets clear performance targets and bonus amounts, ensuring transparency in executive compensation for the year.
Exhibit 10.43
Enterprise Bancorp
Executive Officer Supplemental Bonus Table
Fiscal year 2006
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| of salary, |
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| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
| NI Growth |
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| Net Income growth* |
| 10.000% |
| 11.000% |
| 12.000% |
| 13.000% |
| 14.000% |
| 15.000% |
| 16.000% |
| 17.000% |
| 18.000% |
| 19.000% |
| 20.000% |
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| George L. Duncan |
| 10.000 | % | 18.000 | % | 26.000 | % | 35.000 | % | 40.000 | % | 50.000 | % | 55.000 | % | 60.000 | % | 65.000 | % | 70.000 | % | 75.000 | % |
| Richard W. Main |
| 10.000 | % | 18.000 | % | 26.000 | % | 35.000 | % | 40.000 | % | 50.000 | % | 55.000 | % | 60.000 | % | 65.000 | % | 70.000 | % | 75.000 | % |
| Jack P Clancy |
| 10.000 | % | 18.000 | % | 26.000 | % | 35.000 | % | 40.000 | % | 50.000 | % | 55.000 | % | 60.000 | % | 65.000 | % | 70.000 | % | 75.000 | % |
| James A. Marcotte |
| 5.714 | % | 10.286 | % | 14.857 | % | 20.000 | % | 22.857 | % | 28.571 | % | 31.429 | % | 34.286 | % | 37.143 | % | 40.000 | % | 42.857 | % |
| Robert R. Gilman |
| 5.714 | % | 10.286 | % | 14.857 | % | 20.000 | % | 22.857 | % | 28.571 | % | 31.429 | % | 34.286 | % | 37.143 | % | 40.000 | % | 42.857 | % |
| Stephen J. Irish |
| 5.714 | % | 10.286 | % | 14.857 | % | 20.000 | % | 22.857 | % | 28.571 | % | 31.429 | % | 34.286 | % | 37.143 | % | 40.000 | % | 42.857 | % |
%’s in table represent bonus to be paid as a % of base salary.
* Net income growth % is the % increase in Net Income as compared to the prior Fiscal Year.
