2003 Executive Incentive Compensation Plan for Randall Reynoso at Placer Sierra Bank

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2003 Executive Incentive Compensation Plan for Randall Reynoso, Executive Vice President and Chief Operating Officer of Placer Sierra Bank. The plan sets specific individual and bank performance goals, such as reducing turnover and achieving loan targets. Randall Reynoso can earn an incentive award ranging from 0% to 45% of his base salary, depending on the achievement of these goals and the bank’s cash earnings. All individual goals must be met to qualify for any award, and the plan details how bonuses are calculated based on performance.

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EX-10.25 25 dex1025.htm 2003 EXECUTIVE INCENTIVE COMPENSATION PLAN FOR RANDALL REYNOSO 2003 Executive Incentive Compensation Plan for Randall Reynoso

 

EXHIBIT 10.25

 

PLACER SIERRA BANK

2003 Executive Incentive Compensation Plan

 

Participant:    Randall Reynoso
Title:    Executive Vice President/Chief Operating Officer
Award Potential:    0% to 45% of base compensation

 

INDIVIDUAL PERFORMANCE MEASURES

 

  1. Reduce bank turnover by 25%

 

  2. Develop process to review all branches, at least annually, capable of justifying branch location, staffing, market share and profitability goals

 

  3. Produce $423 million in new loan commitments consistent with 2003 lending plan

 

  4. Produce $980 thousand in annual Zions and other loan broker fees

 

  5. Select and install MCIF system and profitability model capable of determining customer and product profitability

 

  6. Implement 2003 CRA program and fulfill 2003 goals

 

Individual Portion 10%

 

BANK PERFORMANCE MEASURES BASED ON 2003 CASH EARNINGS

 

Bank Cash Earnings

    Individual
Portion
     Bonus for
Individual
Portion
     Bank
Earnings
Portion
     Total
Award
  

Threshold

   

$12.0 million

    10 %   +   0 %   + 15 %   = 25 %

Target

   

$12.9 million

    10 %   + 10 %   + 20 %   = 40 %

Outstanding

   

$13.5 million

    10 %   + 10 %   + 25 %   = 45 %

 

GENERAL GUIDELINES

 

1. All individual goals stated above must be achieved to receive the minimum award of 10%

 

2. If all individual goals stated above are achieved but the Bank threshold is not met, the individual will still receive the minimum award of 10%

 

3. All individual goals stated above must be achieved in order to qualify to receive Bank awards plus additional bonuses for individual achievement, as appropriate

 

4. Cash earnings levels are inclusive of the payment of bonuses