TCB Acquisition Bonus Program Agreement between Scott Trager and the Bank
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Summary
This agreement outlines a bonus program for Scott Trager, who will receive a cash incentive if certain financial goals (GOP) are met in connection with the TCB Acquisition between January 28, 2012, and January 31, 2014. If the GOP reaches $20 million, the bonus is $87,500; if it reaches $30 million, the bonus is $175,000. The bonus is payable on February 21, 2014, provided Scott Trager remains an employee in good standing. Management may adjust goals or payouts at its discretion.
EX-10.3 4 a50265749ex10-3.htm EXHIBIT 10.3 a50265749ex10-3.htm
EXHIBIT 10.3
| TO: | Scott Trager | DATE: | March 21, 2012 | |
| FROM: | Steve Trager | SUBJECT: | TCB Acquisition Bonus Program | |
You will be eligible for a bonus based on the achievement of the following TCB Acquisition goals for the time period of January 28, 2012 through January 31, 2014:
| | ● | If a GOP for the TCB Acquisition of $20,000,000 is achieved your incentive payout will be $87,500.00. |
| OR |
| | ● | If a GOP for the TCB Acquisition of $30,000,000 is achieved your incentive payout will be $175,000.00. |
This bonus will be earned and paid on February 21, 2014 provided you are an employee in good standing with the Bank at that time.
Management reserves the right in its sole discretion to adjust goals, individual participants’ payouts, etc.
| /s/ Scott Trager | /s/ March 21, 2012 | ||
| Kevin Sipes | Date |
