Company: CMTV
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000534
Chunk: 34

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 34
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, non-executive officer and qualifying exempt employee having at least one year of service is eligible to participate in the plan. There are two separate incentive payment components under the plan, one for designated executive officers and another for all other officers and participating exempt employees. Executive Officers .Under the executive officers portion of the plan, designated executive officers are eligible to earn a cash bonus equal to a percentage of salary based on attainment of annual weighted performance criteria approved by the Board upon recommendation of the Compensation Committee. Cash bonus awards for the 2024 performance period were based on a combination of (1) the Bank’s September 30 rating issued by IDC Financial Publishing, Inc. ( “IDC”), an industry-wide recognized ranking service, (2) return on average assets, (3) the ratio of non-performing loans as percentage of average loans, (4) the ratio of overhead expense as a percentage of average assets, and (5) a subjective individual performance evaluation by the Board of Directors of the Company. The plan includes “threshold, target and stretch” benchmarks for each performance measure, and those measures are assigned percentage weights in the overall bonus calculation. The actual amount of bonus earned is determined by applying a “multiplier” to the target award. The multiplier is determined by the extent to which the various performance goals were achieved during the annual performance period. The following table summarizes the 2024 performance measures and actual results used in calculating executive officer bonuses with respect to 2024 performance:

| Criteria/Weight                 |          Threshold |             Target |         Stretch |         Actual | Earned  | Multiplier |
| Return on Average Assets        |         ≥ to 1.25% |            ≥ 1.32% |         ≥ 1.40% |          1.21% | .00%    | 0.00%      |
| Percentage Reward-30%           |             40.00% |            100.00% |         150.00% |                |         |            |
| I.D.C Rating                    | Superior (200-249) | Superior (250-299) | Superior (300+) | Superior (248) | 97.60%  | 24.40%     |
| Percentage Reward-25%           |             40.00% |            100.00% |         150.00% |            248 |         |            |
| Board Subjective Evaluation/20% |               3.00 |               4.00 |