Executive Officer Bonus Program Agreement (2004–2005) – William A. Weiland

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the bonus program for executive officer William A. Weiland for the years 2004 and 2005. The bonus is based on performance metrics such as net income, loan growth, deposit growth, regulatory exam scores, and other financial and management criteria. The payout percentage increases with higher performance scores, but no bonus is paid if a minimum net income threshold is not met. The agreement specifies how performance is measured and the corresponding bonus percentages.

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EX-10.2 4 mwex102.txt MWFS EXHIBIT 10.2 FOR FORM 8-K Exhibit 10.2 EXECUTIVE OFFICER'S BONUS PROGRAM (2005) WILLIAM A. WEILAND
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 Sales Performance 10. Evaluation of Personal 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 William A Weiland 3.5% 7% 10.5% 14.0% 17.5% 21.0% 24.5%
EXECUTIVE OFFICER'S BONUS PROGRAM (2004) WILLIAM A. WEILAND
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 Branch Management a) Sales Performance b) Personal Objectives
TOTAL:
SCORING SYSTEM FOR EXECUTIVE BONUS PROGRAM # OF POINTS 9 10 11 12 13 14 15 or more William A Weiland 3.5% 7% 10.5% 14.0% 17.5% 21.0% 24.5%