2010 Executive Officer Compensation Schedule for [Company Name]

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2010 compensation for the company's executive officers, including base salaries, perquisites, and stock option grants. Five named executives will receive specified annual salaries, with the CEO also receiving additional benefits such as a car allowance and club memberships. None of the executives are eligible for variable incentive compensation in 2010. Stock options were granted to each executive, vesting over three years at a set price per share.

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EX-10.XII 3 ex10-xii.txt EXHIBIT 10.(XII) Exhibit 10(xii) 2010 Schedule of Executive Officer Compensation ----------------------------------------------- On December 17, 2009, the Compensation Committee approved the following 2010 salaries for the named executive officers of the Company:
Name and Principal Position Salary --------------------------- ------ Mark D. Bradford, President, CEO and Director $225,000 Gordon M. Dyott, Executive Vice President, Chief Financial Officer $147,750 Christopher G. Tietz, Senior Vice President, Chief Credit Officer $145,250 R. Scott Walters, Senior Vice President, Wealth Management Group $123,500 J. Scot Davidson, Senior Vice President, Retail Banking $106,986
Monthly and Annual Variable Incentive Compensation. The named executive officers are not eligible to participate in the monthly or annual variable incentive compensation program in 2010. During 2010 Mark Bradford will also receive from the Company certain perquisites with a total value estimated at approximately $13,000. These perquisites consist of a car allowance and social club memberships. While the other executive officers enjoy certain perquisites, such perquisites are not anticipated to exceed $10,000 and therefore would not be required to be disclosed by applicable rules of the Securities and Exchange Commission. Stock Option Grants. On December 17, 2009, the Compensation Committee approved the award of stock option grants to the following named executive officers in the amounts set forth next to their names: Mark D. Bradford 10,000 shares Gordon M. Dyott 5,000 shares Christopher G. Tietz 5,000 shares R. Scott Walters 5,000 shares J. Scot Davidson 5,000 shares The options vest in three years and the option price is based on the closing price on December 16, 2009 which was $6.00 per share.