2005 and 2004 Executive Officer Bonus Program Agreement for Gene C. Knoll

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the bonus program for executive officer Gene C. Knoll for the years 2004 and 2005. The program sets specific financial and performance targets, such as net income, loan growth, and regulatory exam scores, which are scored to determine the bonus percentage. If the company’s consolidated net income before bonus expenses does not meet a set threshold, no bonus is paid. The agreement details how performance is measured and how the bonus is calculated based on the total score achieved.

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EX-10.1 3 mwex101.txt MWFS EXHIBIT 10.1 FOR FORM 8-K Exhibit 10.1 EXECUTIVE OFFICER'S BONUS PROGRAM (2005) GENE C. KNOLL
SCORE 0 1 2 Actual Performance Score RANGE Below Low Mid-Point High Above 1. Net Income (in Millions of $'s) 2. Non-interest Income (in Millions of $'s) 3. Loan Growth (in Millions of $'s) 4. Core Deposit Growth (in Millions of $'s) (Deposits plus Repos minus SWIBS) 5. Regulatory Safety & Soundness Exam Score 6. Net Charge Offs (as compared to Peer Group) 7. Loan Delinquency Ratio (as compared to Peer Group) (as a % of Total Loans) 8. MWFS Market Share Price (% of Book Value) (Book 12/31/04 $21.23) 12/31/04 1.62; Market $34.50 per share 9. Evaluation of Personal Performance Objectives 10. Evaluation of Attainment of Company Strategic Objectives TOTAL: 2005 QUALIFYING FACTOR: If consolidated net income before bonus expenses does not meet or exceed $_________, the model will be invalid and the payout will be $0.
SCORING SYSTEM FOR EXECUTIVE BONUS PROGRAM # OF POINTS 9 10 11 12 13 14 15 or more Gene C. Knoll 5.0% 10% 15% 20% 25% 30% 35%
EXECUTIVE OFFICER'S BONUS PROGRAM (2004) GENE C. KNOLL SCORE 0 1 2 Actual Performance Score RANGE Below Low Mid-Point High Above 1. Net Income (in Millions of $'s) 2. Non-interest Income (in Millions of $'s) 3. Loan Growth (in Millions of $'s) 4. Core Deposit Growth (in Millions of $'s) (Deposits plus Repos) 5. Regulatory Safety & Soundness Exam Score 6. Net Charge Offs (as compared to Peer Group) 7. Earning Assets as a percentage of total Assets (Compared to Peer Group) 8. Loan Delinquency Ratio (as compared to Peer Group) (as a % of Total Loans) 9. MWFS Market Share Price (% of Book Value) (Book 12/31/03 $20.03) 10. Evaluation of Strategic Objectives a) Personal Performance Objectives b) Attainment Company Strategic Objectives
TOTAL:
# OF POINTS 9 10 11 12 13 14 15 or more Gene C. Knoll 5.0% 10% 15% 20% 25% 30% 35%