Approved by the Compensation Committee 1/19/05

Contract Categories: Human Resources - Compensation Agreements
EX-10.14 4 w51896exv10w14.htm EXHIBIT 10.14 exv10w14
 

Exhibit 10.14
Approved by the Compensation Committee 1/19/05
The Executive Long Term Incentive Plan, as approved by the Board of Directors on July 31, 1999, delegates to the Compensation Committee the authority to approve the Measurement Period, the Employee Participants, the Performance-Based Cash Awards, the Performance Goals, and the Payment of Awards.
A.   The Measurement Period is the 3-year period from 1/01/2005 through 12/31/2007, and the Performance-Based Cash Awards, if any, will be granted every other year according to the following schedule:
                             
2001   2002   2003   2004   2005   2006   2007   2008
Award
   Award   Vest   Payment                
 
       Award   Award   Vest   Payment        
 
               Award   Award   Vest   Payment
B. Employee Participants:
         
 
  CEO:   Charles E. Snyder
 
        
 
  Others:   Steven Brookner
 
      Patrick N. Connealy
 
      Charles H. Hackman
 
      Michele Fantt Harris
 
      Mark Hiltz
 
      Kathleen Luzik
 
      Richard L. Reed
C.   Performance-Based Cash Award Potential:
                         
Annualized Award Opportunity at Select Performance
as a percent of Base Salary not including Low Income Adjustment
    Threshold   Target   Superior
CEO
     20 %     50 %     65 %
Other Participants
     15 %     30 %     45 %
D.   The Payment of Awards shall be made no later than 90 days after the end of the Measurement Period.

 

 

NCB Executive Long-Term Incentive Plan
Measurement Period 1/1/05 — 12/31/07
E. Performance Goals used to compute potential Performance-Based Cash Awards:
                         
PERFORMANCE GOALS               Goals and Awards for the CEO
1/1/05 – 12/31/07   Weight       Threshold   Target   Superior
 
Financial Strength:Average ROE less NCBDC contribution over three years
    35 %   Goal   10% Average ROE   11% Average ROE   12% Average ROE
             
 
          Award   7% of Salary   17.5% of Salary   22.75% of Salary
 
Value to Customers: Replicable Breakthrough Innovations that each generate at least $4 million of actual revenue over the 2005-2007 period (including NCBDC revenue.) A Prospective Breakthrough Innovation has generated at least $2 million of actual revenue over the 2005-2007 period plus additional verifiable projected revenue of $2 million by its third year.
    35 %   Goal   One Breakthrough
Innovation 		  One Breakthrough Innovation and one Prospective Breakthrough Innovation   Two Breakthrough
Innovations
             
 
          Award   7% of Salary   17.5% of Salary   22.75% of Salary
 
Total commitments and financial transactions arranged for customers including loans, leases, letters of credit, private placements, and deals closed by referral sources.
    30 %   Goal   $4.5 billion 2005 through 2007   $5 billion 2005 through 2007   $6 billion 2005 through 2007
             
 
          Award   6% of Salary   15% of Salary   19.5% of Salary
 
 
    100 %       20% of Salary   50% of Salary   65% of Salary
 
    Adjustment for Low Income Market Development   -15% of Total Award   +0%   +25% of Total Award
 
                         
PERFORMANCE GOALS               Goals and Awards for Other Participants
1/1/05 – 12/31/07   Weight       Threshold   Target   Superior
 
Financial Strength: Average ROE less NCBDC contribution over three years
    35 %   Goal   10% Average ROE   11% Average ROE   12% Average ROE
             
 
          Award   5.25% of Salary   10.5% of Salary   15.75% of Salary
 
Value to Customers: Replicable Breakthrough Innovations that each generate at least $4 million of actual revenue over the 2005-2007 period (including NCBDC revenue.) A Prospective Breakthrough Innovation has generated at least $2 million of actual revenue over the 2005-2007 period plus additional verifiable projected revenue of $2 million by its third year.
    35 %   Goal   One Breakthrough
Innovation 		  One Breakthrough Innovations and one Prospective Breakthrough Innovation   Two Breakthrough
Innovations
             
 
          Award   5.25% of Salary   10.5% of Salary   15.75% of Salary
 
Total commitments and financial transactions arranged for customers including loans, leases, letters of credit, private placements, and deals closed by referral sources.
    30 %   Goal   $4.5 billion 2005 through 2007   $5 billion 2005 through 2007   $6 billion 2005 through 2007
             
 
          Award   4.5% of Salary   9% of Salary   13.5% of Salary
 
Totals
    100 %       15% of Salary   30% of Salary   45% of Salary
 
      Adjustment for Low Income Market Development   -15% of Total Award   +0%   +25% of Total Award