Stewart Information Services Corporation Executive Officers Bonus Plans (2000)

Summary

Stewart Information Services Corporation established bonus plans for its executive officers for the year 2000. The plan outlines specific bonus percentages based on the consolidated pre-tax income of Stewart Title Guaranty Company, with minimum guaranteed bonus amounts for each executive. The officers covered include Malcolm S. Morris, Stewart Morris, Jr., Carloss Morris, Stewart Morris, and Max Crisp. Each executive receives a bonus calculated as a percentage of company profits, with a guaranteed minimum payout for the year. The agreement details both the calculation method and the actual bonuses paid for 2000.

EX-10.1 4 h85229ex10-1.txt SUMMARY OF AGREEMENTS 1 EXHIBIT 10.1 STEWART INFORMATION SERVICES CORPORATION AND SUBSIDIARIES EXECUTIVE OFFICERS BONUS PLANS DECEMBER 31, 2000 The following summarizes the terms of the bonus arrangements approved by the Company's Compensation Committee with respect to the Company's executive officers: MALCOLM S. MORRIS, as Chairman of the Board and Co-Chief Executive Officer, shall receive in addition to his salary, 1% on the first $20,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .75% of the profits from $20,000,001 to $40,000,000, .50% of the profits from $40,000,001 to $60,000,000 and .25% of the profits exceeding $60,000,000. For the calendar year 2000, Mr. Morris shall receive no less that $250,000 in bonus compensation. For the calendar year 2000, Mr. Morris received $250,000 in bonus compensation. STEWART MORRIS, JR., as President and Co-Chief Executive Officer, shall receive in addition to his salary, 1% on the first $20,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .75% of the profits from $20,000,001 to $40,000,000, .50% of the profits from $40,000,001 to $60,000,000 and .25% of the profits exceeding $60,000,000. For the calendar year 2000, Mr. Morris shall receive no less that $250,000 in bonus compensation. For the calendar year 2000, Mr. Morris received $250,000 in bonus compensation. CARLOSS MORRIS, as Chairman of the Executive Committee, shall receive in addition to his salary, 1% of the first $20,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .75% of the profits from $20,000,001 to $40,000,000, .50% of the profits from $40,000,001 to $60,000,000 and .25% of the profits exceeding $60,000,000. For the calendar year 2000, Mr. Morris shall receive no less than $165,000 in bonus compensation. For the calendar year 2000 Mr. Morris received $165,000 in bonus compensation. STEWART MORRIS, as Vice Chairman of the Executive Committee, shall receive in addition to his salary, 1% of the first $20,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .75% of the profits from $20,000,001 to $40,000,000, .50% of the profits from $40,000,001 to $60,000,000 and .25% of the profits exceeding $60,000,000. For the calendar year 2000, Mr. Morris shall receive no less than $165,000 in bonus compensation. For the calendar year 2000 Mr. Morris received $165,000 in bonus compensation. MAX CRISP, as Senior Vice President - Finance, shall receive in addition to his salary, .5% of the first $50,000,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder, .40% of the profits from $50,000,001 to $75,000,000, .30% of the profits from $75,000,001 to $100,000,000 and .20% of the profits exceeding $100,000,000. For the calendar year 2000, Mr. Crisp shall receive no less than $126,000 in bonus compensation. For the calendar year 2000 Mr. Crisp received $126,000 in bonus compensation.