Stewart Information Services Corporation Executive Officers’ Bonus Plans Summary

Summary

This document outlines the bonus plans for executive officers of Stewart Information Services Corporation. The plan specifies that Malcolm S. Morris and Stewart Morris, Jr. will receive bonuses based on a percentage of Stewart Title Guaranty Company's consolidated pretax income, with the percentage decreasing as income increases. Max Crisp and Matthew W. Morris have similar tiered bonus structures, while E. Ashley Smith receives a fixed percentage with a guaranteed minimum and a cap on total compensation. The agreement details how bonuses are calculated and sets limits on certain officers’ total compensation.

EX-10.1 2 h46275exv10w1.htm SUMMARY OF AGREEMENTS exv10w1

EXHIBIT 10.1

STEWART INFORMATION SERVICES CORPORATION

EXECUTIVE OFFICERS’ BONUS PLANS

The following summarizes the terms of the bonus arrangements with respect to our executive officers:

MALCOLM S. MORRIS, as Chairman of the Board and Co-Chief Executive Officer, shall receive, in addition to his salary, 1.00% of the first $20,000,000 of the consolidated pretax income (calculated after deducting minority interests) of Stewart Title Guaranty Company as reported to its stockholder, 0.75% of the pretax profits from $20,000,001 to $40,000,000, 0.50% of the pretax profits from $40,000,001 to $60,000,000, and 0.35% of the pretax profits exceeding $60,000,000.

STEWART MORRIS, JR., as President and Co-Chief Executive Officer, shall receive, in addition to his salary, 1.00% of the first $20,000,000 of the consolidated pretax income (calculated after deducting minority interests) of Stewart Title Guaranty Company as reported to its stockholder, 0.75% of the pretax profits from $20,000,001 to $40,000,000, 0.50% of the pretax profits from $40,000,001 to $60,000,000, and 0.35% of the pretax profits exceeding $60,000,000.

MAX CRISP, as Executive Vice President and Chief Financial Officer, shall receive, in addition to his salary, 0.50% of the first $50,000,000 of the consolidated pretax income (calculated after deducting minority interests) of Stewart Title Guaranty Company as reported to its stockholder, 0.40% of the pretax profits from $50,000,001 to $75,000,000, 0.30% of the pretax profits from $75,000,001 to $100,000,000 and 0.20% of the pretax profits exceeding $100,000,000. Mr. Crisp’s compensation from base salary plus bonus shall not exceed 75% of the total base salary plus bonus earned by a Chief Executive Officer.

E. ASHLEY SMITH, as Executive Vice President — General Counsel, shall receive, in addition to his salary, 0.25% of the consolidated pretax income (calculated after deducting minority interests) of Stewart Title Guaranty Company as reported to its stockholder. For 2007, Mr. Smith shall be guaranteed a minimum bonus of $150,000. Total compensation to Mr. Smith from salary and bonus shall not exceed $450,000 in any calendar year.

MATTHEW W. MORRIS, as Senior Executive Vice President, shall receive, in addition to his salary, 0.30% of the first $100,000,000 of the consolidated pretax income (calculated after deducting minority interests) of Stewart Title Guaranty Company as reported to its stockholder, and 0.20% of the pretax profits exceeding $100,000,000.