Jefferson Heritage Bank Year 2000 Bonus Plan
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Bonus & Incentive Agreements
Summary
Jefferson Heritage Bank has established a Year 2000 Bonus Plan for its senior officers. Under this plan, bonuses are awarded as a percentage of each officer's salary, with the percentage depending on their position. The actual bonus amount is tied to the company's earnings per share performance, with reduced bonuses if certain thresholds are not fully met. This plan outlines eligibility, bonus percentages, and the conditions under which bonuses are paid.
EX-10.1 2 0002.txt 2000 BONUS PLAN EXHIBIT 10.1 JEFFERSON HERITAGE BANK YEAR 2000 BONUS PLAN Under the Jefferson Heritage Bank Year 2000 Bonus Plan, senior officers of the Bank are eligible to receive bonuses equal to the following percentages of their salaries if the Company meets certain earnings per share goals: CEO 50% President 50% Senior Vice Presidents/Division Heads 40% Senior Vice Presidents 30% Vice Presidents 20% Participants are eligible to receive 50% of their bonus amount if the Company meets 92% of the earnings per share target, and 40% of their bonus amount if the Company achieves 89% of the target.
