Enterprise Bancorp Executive Officer Supplemental Bonus Table for Fiscal Year 2005

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the supplemental bonus structure for executive officers of Enterprise Bancorp for the 2005 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 milestones. The table lists the eligible executives and the corresponding bonus percentages tied to net income growth rates ranging from 10% to 20%.

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EX-10.36 2 a05-2250_1ex10d36.htm EX-10.36

Exhibit 10.36

 

Enterprise Bancorp

Executive Officer Supplemental Bonus Table

Fiscal Year 2005

 

Net Income growth*

 

Name

 

Bonus %
of salary,
NI Growth
10.000%

 

Bonus %
of salary,
NI Growth
11.000%

 

Bonus %
of salary,
NI Growth
12.000%

 

Bonus %
of salary,
NI Growth
13.000%

 

Bonus %
of salary,
NI Growth
14.000%

 

Bonus %
of salary,
NI Growth
15.000%

 

Bonus %
of salary,
NI Growth
16.000%

 

Bonus %
of salary,
NI Growth
17.000%

 

Bonus %
of salary,
NI Growth
18.000%

 

Bonus %
of salary,
NI Growth
19.000%

 

Bonus %
of salary,
NI Growth
20.000%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

George L. Duncan

 

10.000

%

18.300

%

26.600

%

35.000

%

43.300

%

51.600

%

59.900

%

68.200

%

76.500

%

84.800

%

93.100

%

Richard W. Main

 

10.000

%

18.300

%

26.600

%

35.000

%

43.300

%

51.600

%

59.900

%

68.200

%

76.500

%

84.800

%

93.100

%

Jack P Clancy

 

10.000

%

18.300

%

26.600

%

35.000

%

43.300

%

51.600

%

59.900

%

68.200

%

76.500

%

84.800

%

93.100

%

James A. Marcotte

 

5.714

%

10.457

%

15.200

%

20.000

%

24.743

%

29.486

%

34.229

%

38.971

%

43.714

%

48.457

%

53.200

%

Robert R. Gilman

 

5.714

%

10.457

%

15.200

%

20.000

%

24.743

%

29.486

%

34.229

%

38.971

%

43.714

%

48.457

%

53.200

%

Stephen J. Irish

 

5.714

%

10.457

%

15.200

%

20.000

%

24.743

%

29.486

%

34.229

%

38.971

%

43.714

%

48.457

%

53.200

%

 

%’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.