Summary of Agreements as to Payments of Bonuses to Executive Officers

EX-10.1 2 h59033exv10w1.htm SUMMARY OF AGREEMENTS AS TO PAYMENTS OF BONUSES TO EXECUTIVE OFFICERS exv10w1
EXHIBIT 10.1
STEWART INFORMATION SERVICES CORPORATION
EXECUTIVE OFFICERS’ BONUS PLANS
The following summarizes the terms of bonus arrangements with respect to certain of 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.
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.