Amended Appendix A to The Washington Trust Company Annual Performance Plan (2008 Bonus Targets)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document amends Appendix A of The Washington Trust Company Annual Performance Plan, specifying target bonus award levels for executive officers for the 2008 calendar year. The plan sets target bonuses as a percentage of regular earnings for the CEO, COO, Executive Vice Presidents, and Senior Vice Presidents, with adjusted percentages for 2008 as approved by the Compensation Committee. The agreement outlines the bonus structure but does not detail other terms or conditions.

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EX-10.HTM 2 exhibit10.htm EXHIBIT 10 TO FORM 10-Q FOR QUARTER ENDED MARCH 31, 2008 exhibit10.htm

Exhibit 10.1
 
Appendix A to The Washington Trust Company Annual Performance Plan, which was filed as Exhibit 10.1 to Washington Trust Bancorp, Inc.’s Quarterly Report on Form 10-Q (File No. 000-13091) for the quarterly period ended March 31, 2007, has been amended and restated in its entirety as set forth below:
 

 
Amended and Restated Appendix A to The Washington Trust Company Annual Performance Plan, dated as of March 17, 2008
 
Appendix A –Target Bonus Awards

Target bonus award levels for Executive Officers are as follows:

Position
Total Target*
CEO
45%
COO
40%
Executive Vice Presidents
30%
Senior Vice Presidents
25%
* as a percentage of regular earnings


 
Target bonus award levels applicable only to calendar year 2008 were adjusted by the Compensation Committee as outlined below:
 
Position
2008 Adjusted Total Target*
CEO
41.15%
COO
36.58%
Executive Vice Presidents
27.44%
Senior Vice Presidents
22.86%
* as a percentage of regular earnings