Lake Sunapee Bank Group Named Executive Officer Incentive Plan 2016 Goals

EX-10.2 3 d134957dex102.htm EX-10.2 EX-10.2

Exhibit 10.2

Lake Sunapee Bank Group

Named Executive Officer Incentive Plan

2016 Goals


Goal		Weight		12/31/2015		Threshold		Target		Superior
1) Net Income		40%		$9,029,000		$9,200,000 to $9,500,000		$9,500,001 to $10,000,000		$10,000,001+

				Factor Available:		1.000%		2.000%		4.000%

2) Gross Loan Growth		20%		$1,222,108,000		+$30 million ($1,252,000,000+)		+$40 million ($1,262,000,000+)		+$60 million ($1,322,000,000+)

				Factor Available:		0.50%		1.00%		2.00%

3) Asset Quality		15%		0.49%		NPL/Loans < 1%		NPL/Loans < .50%		NPL/Loans < .35%

				Factor Available:		*0.38%*		*0.75%*		*1.50%*

4) Deposit Growth		15%		$1,157,352,000		Increase of less than 4%		+4% Growth (>$1,203,645,000)		+5% Growth (>$1,215,220,000)

				Factor Available:		0.38%		0.75%		1.50%

5) Individual Goals		10%		Factor Available:		0.25%		0.500%		1.000%

Totals		100%		Total Factor Available:		Maximum Threshold 2.50%		Maximum Target 5.00%		Maximum Superior 10.00%

*	In order to activate the plan, the Threshold levels for Goals #1 and #5 must be obtained, and acceptable regulatory ratings maintained.

1)	Net income: Consolidated Net Income, as reported in SEC Filings, including impact of incentive expense and all discretionary bonuses.

2)	Gross Loan Growth: Growth of gross loans held in portfolio, as disclosed in SEC Filings, at 12/31/16 compared to gross loans held in portfolio at 12/31/15, as disclosed in SEC Filings.

3)	Asset Quality is calculated by dividing the amount of Non-Performing Loans (NPL) to total loans at 12/31/16.

4)	Deposit growth: Percent of growth comparing deposits, as disclosed in SEC Filings, at 12/31/16 compared deposits at 12/31/15, as disclosed in SEC Filings.

5)	Three individual goals per Executive, with satisfactory completion (as determined by Executive’s respective reporting authority) of 1 of 3 necessary for Threshold; 2 of 3 for Target; and 3 of 3 for Superior.