PLACER SIERRA BANK 2003 Executive Incentive Compensation Plan
EX-10.27 27 dex1027.htm 2003 EXECUTIVE INCENTIVE COMPENSATION PLAN FOR ROBERT MUTTERA 2003 Executive Incentive Compensation Plan for Robert Muttera
EXHIBIT 10.27
PLACER SIERRA BANK
2003 Executive Incentive Compensation Plan
| Participant: | Robert Muttera | |
| Title: | Executive Vice President/Chief Credit Officer | |
| Award Potential: | 0% to 45% of base compensation |
INDIVIDUAL PERFORMANCE MEASURES
| 1. | Establish and satisfactorily support a lending plan and establish outstanding loan volume goals by product line, employing variable product and relationship lending |
| 2. | Revise commission structure and staffing to convert 1-4 residential mortgage lending to construction lending |
| 3. | Produce $980 thousand in annual Zions and other loan broker fees |
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 |
