Stewart Information Services Corporation 2003 Executive Officers' Bonus Plans Summary

Summary

Stewart Information Services Corporation established bonus plans for its executive officers for the year 2003. The plan outlines specific bonus percentages based on the company's consolidated income before taxes, with different thresholds and minimum or maximum bonus amounts for each executive. The officers covered include Malcolm S. Morris, Stewart Morris, Jr., Carloss Morris, Stewart Morris, and Max Crisp. Each executive's bonus is calculated as a percentage of profits, with some having guaranteed minimums or maximums for the year. The agreement was approved by the company's Compensation Committee.

EX-10.1 3 h13616exv10w1.txt SUMMARY OF AGREEMENTS EXHIBIT 10.1 STEWART INFORMATION SERVICES CORPORATION AND SUBSIDIARIES EXECUTIVE OFFICERS' BONUS PLANS DECEMBER 31, 2003 The following summarizes the terms of the bonus arrangements approved by our Compensation Committee 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% 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 2003, Mr. Malcolm S. Morris shall receive no less than $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 2003, Mr. Stewart Morris, Jr. shall receive no less than $250,000 in bonus compensation. CARLOSS MORRIS, as Chairman of the Executive Committee, shall receive in addition to his salary, 1% of the first $16,500,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder. For the calendar year 2003, Mr. Carloss Morris shall receive no more than $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 $16,500,000 of the consolidated income before taxes of Stewart Title Guaranty Company as reported to its stockholder. For the calendar year 2003, Mr. Stewart Morris shall receive no more than $165,000 in bonus compensation. MAX CRISP, as Executive 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 2003, Mr. Crisp shall receive no less than $135,000 in bonus compensation and his bonus may not exceed 75% of the total base plus bonus earned by a Chief Executive Officer.