AMENDMENT TO THEFARMINGTON BANK ANNUALINCENTIVE COMPENSATION PLAN
Contract Categories:
Human Resources
- Compensation Agreements
EX-10.9.1 2 ex10-9_1.htm EXHIBIT 10.9.1
Exhibit 10.9.1
AMENDMENT
TO
THE FARMINGTON BANK
ANNUAL INCENTIVE COMPENSATION PLAN
WHEREAS, Farmington Bank established a performance based annual incentive plan to provide a cash incentive for all employees based on the attainment of specified goals and objectives known as The Farmington Bank Annual Incentive Compensation Plan; and
WHEREAS, under the terms of the Plan, the Employer has the authority to amend the Plan; and
WHEREAS, the Employer wishes to amend the Plan and the plan design to better match generally accepted practices and remain market competitive; and
NOW, THEREFORE, effective January 28, 2014, section IV of the Plan entitled Plan Design shall be amended to the following tier and award opportunities:
| Tier | Threshold | Target | Max |
| I | 25% | 50% | 75% |
| II | 15% | 30% | 45% |
| IIIA | 10% | 20% | 40% |
| III | 10% | 20% | 30% |
| IV | 7.5% | 15% | 22.5% |
| V | 6.25% | 12.5% | 18.75% |
| VI | 5% | 10% | 15% |
| VII | 3.75% | 7.5% | 11.25% |
| VIII | 2.5% | 5% | 7.5% |
| WITNESS | FARMINGTON BANK | ||
| By: /s/ Lee D. Nordstrom | |||
| /s/ Lisa Mueller | Title SVP Human Resources |
