FPIC Executive Incentive Comp Plan




Exhibit 10(eeee)







FPIC
Insurance Group, Inc.







Executive
Incentive 

Compensation
Plan










2005
Implementation Guide

























Executive
Incentive Compensation Plan




Introduction

Linking
compensation to corporate strategy and performance is a challenge facing every
business. As officers of the organization, it is critically important that the
key strategies necessary to achieving the organization’s objectives are
identified, measured and rewarded. This plan will provide an additional measure
of linkage to our corporate strategy. 




Plan
Description

Under
this plan, the Budget and Compensation Committee of the holding company board
will establish performance measures and goal weightings for each year based on
synergies and desired focus. The performance measures will be both quantitative
and qualitative in nature. 




Corporate
financial measures will be based on corporate relevant metrics and operating
subsidiary (SBU) measures will be based on SBU relevant metrics. SBU’s with a
high degree of synergy will have goals weighted more toward overall corporate
performance, and those with a lower degree will be weighted more towards
individual SBU performance. Each participant will be measured on both business
and individual performance.




[The
Budget and Compensation Committee will consider, as appropriate, business and
individual performance weightings.]




Specific
targets will be established on an annual basis for each performance component
and will be evaluated on a sliding scale ranging from 50% of the bonus
opportunity to 150% of the bonus opportunity. Any measure falling below the 50%
level will reduce the related bonus opportunity to 0%. 




Individual
performance expectations will also be measured and an individual performance
factor assigned. To facilitate the evaluation process, an Executive Performance
Appraisal process will be utilized. Each officer will be evaluated based on
individual performance objectives, as well as common core competencies. The
performance appraisal should support the individual performance factor
assigned.




At the
discretion of the holding company CEO, an individual who achieves results far
beyond expectations may be awarded an individual performance factor in excess of
150%. The sponsoring business leader must submit a formal request documenting
the specific results, how the Company was benefited and the requested award. It
is understood that such awards must be based on truly exemplary performance
above and beyond that already comprehended within the plan (e.g., up to 150%)
and, thus, will be few in number. 




2005
Corporate Targets

Targets
are separated into financial and strategic. Financial targets
represent the key expectations with respect to operating performance of the
Company. Strategic targets are those projects, initiatives and
actions that have been identified as critical to the continued success of the
organization. The strategic targets will carry a combined weight of 40% for the
officers of the holding company. For officers of the Company’s operating
subsidiaries, the corporate component will be comprised only of financial
targets.




[The
Budget and Compensation Committee will annually approve the appropriate
corporate targets and weightings.]




The
applicable bonus will be based on the actual results achieved. 























2005
Subsidiary Targets

The
target weightings are based on the importance of each individual target to the
organization’s success. 




[The
Budget and Compensation Committee will annually approve the appropriate
operating subsidiary targets and weightings.] 




Other
Events

The
financial targets provided herein are for the year 2005. The evaluation of
actual performance will take into account extraordinary and unanticipated
developments during the year (e.g., significant adverse development on prior
years).




Implementation
and Timing

The plan
will be implemented for the year 2005 and will be administered at the holding
company. The operating subsidiaries are responsible for establishing individual
bonus targets for each officer and promptly notifying the holding company of any
changes, additions or deletions. Additionally, individual performance ratings
are due from each subsidiary by the end of each year. Once the final operating
results and individual performance ratings are compiled, 2005 bonuses will be
calculated and presented to the Board of Directors of FPIC for approval. The
resulting approved bonuses will be funded and paid at each operating subsidiary
and will be paid on or before March 15th of the following year. Pro-forma bonus
results should be calculated and accruals revised throughout the year, as
necessary. 




For 2006
and beyond, the financial targets will initially be set by the holding company
as part of the fall planning process, with each operating subsidiary’s plans
measured against these expectations. The resulting agreed-upon plan will then
determine the level of bonuses available. Stated differently, if the holding
company requires a certain target and the subsidiary plan provides a lower
target, then the bonus opportunity will be adjusted accordingly.