Stewart Information Services Corporation Executive Officers' Bonus Plans (2002)

Summary

This agreement outlines the bonus compensation plans for executive officers of Stewart Information Services Corporation and its subsidiaries for the year 2002. It specifies the percentage of consolidated pre-tax income from Stewart Title Guaranty Company that each executive will receive as a bonus, with minimum or maximum bonus amounts set for each individual. The plan covers Malcolm S. Morris, Stewart Morris, Jr., Carloss Morris, Stewart Morris, and Max Crisp, detailing their respective bonus formulas and guaranteed minimum or maximum payouts.

EX-10.1 3 h03429exv10w1.txt SUMMARY OF AGREEMENTS AS TO PAYMENT OF BONUSES EXHIBIT 10.1 STEWART INFORMATION SERVICES CORPORATION AND SUBSIDIARIES EXECUTIVE OFFICERS' BONUS PLANS DECEMBER 31, 2002 The following summarizes the terms of the bonus arrangements approved 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 2002, Mr. 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 2002, Mr. Morris 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 2002, Mr. 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 2002, Mr. Morris shall receive no more than $165,000 in bonus compensation. MAX CRISP, as 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 2002, Mr. Crisp shall receive no less than $126,000 in bonus compensation.