Annual Top Management Cash Bonus Program for Executive Officers

Summary

This agreement outlines a cash bonus program for executive officers of the Corporation. Each year, the Chairman recommends which executives are eligible, and the Board of Directors approves participants and sets performance targets based on corporate pretax profit objectives. Eligible executives may receive a cash bonus, calculated as a percentage of their base salary, if these targets are met. Bonuses are typically paid within 60 days after the fiscal year ends. Participation and bonus amounts are determined annually at the discretion of the Chairman and Board.

EX-10.S 4 w63509exv10ws.txt ANNUAL TOP MANAGEMENT CASH BONUS PROGRAM EXHIBIT 10(s) ANNUAL TOP MANAGEMENT CASH BONUS PROGRAM The Corporation maintains a cash bonus plan whereby the executive officers are eligible to receive cash bonuses equal to a percentage of the executive officer's base salary if certain corporate pretax profit objectives are achieved. The executive officers selected each year to participate in the cash bonus plan, as well as the performance targets on which the cash bonuses are based and the amount of the cash bonuses are determined each year at the discretion of the Chairman and the Board of Directors. Specifically, the Chairman recommends to the Board of Directors certain executive officers who will participate in the plan each year. Such executive officers who will participate in the plan as evidenced by written notice from the Corporation. The amount of the actual cash bonus paid to the various executive officers participating in the cash bonus plan is calculated based on the attainment of the corporate pretax profit objectives set-at the commencement of each fiscal year. The cash bonuses are normally paid within the sixty (60) days after the end of the fiscal year.