PLACER SIERRA BANK 2003 Executive Incentive Compensation Plan
EX-10.28 28 dex1028.htm 2003 EXECUTIVE INCENTIVE COMPENSATION PLAN FOR RENEE ARTERY 2003 Executive Incentive Compensation Plan for Renee Artery
EXHIBIT 10.28
PLACER SIERRA BANK
2003 Executive Incentive Compensation Plan
| Participant: | Renee Artery | |
| Title: | Senior Vice President/Director of Human Resources | |
| Award Potential: | 0% to 45% of base compensation |
INDIVIDUAL PERFORMANCE MEASURES
| 1. | Reduce bank turnover by 25% |
| 2. | Select and implement an automated time keeping system by 12/31/03 |
| 3. | Satisfactorily provide HR support and reporting consistent with all state and federal rules and regulations |
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 |
