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Exhibit 10.27
 Executive Management  Incentive Compensation Plan  for the Fiscal Year of January 1, 2005 
December 31, 2005
 I.     INTRODUCTION




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II.     GENERAL
 A.
    
    Participants in the FY2005 Plan will be the members of the Banks Management Committee,
namely the following officers:
 
 B.
    
    Awards granted under the FY2005 Plan will be made by the Committee upon consideration of the
various factors set forth herein. However, awards will be made in the sole discretion of the
Committee. The Committee shall have the sole authority, subject to the Board of Directors, to
interpret and implement the provisions of the FY2005 Plan. No Participant shall be entitled
to any award unless and until the Committee notifies a FY2005 Plan Participant of his or her
specific award under the FY2005 Plan. Neither the terms of the FY2005 Plan nor any award
granted hereunder shall create any right of a FY2005 Plan Participant to continued employment
with ICBC, the Bank or any affiliate thereof.C.
    
    The FY2005 Plan is designed to provide FY2005 Plan Participants with awards equal in value to
a specified percentage (the Target Bonus) of his or her annual base salary at the end of the
Plan Year based upon his or her executive rank (President, Executive Vice President or Senior
Vice President). The award may be increased or decreased above or below the Target Bonus
depending on actual performance during the Plan Year relative to the target thresholds
described herein.Awards granted under the FY2005 Plan will be made by the Committee upon consideration of
the following factors:
 (1)
    
    Executive level of each Participant as provided herein;(2)
    
    Corporate Performance Component:the achievement of EPS and ROAA targets, with
the weighting of this component for awards granted with respect to the Plan Year
determined by executive level as follows, President and Chief Executive Officer 
100%, Executive Vice Presidents and Senior Vice President   75%; and(3)
    
    Business Unit/Function Performance Component:based upon recommendation of the
President and CEO, with the weighting of this




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D.
    
    Once the total award is determined, the award will be due and payable in cash and ICBC stock
as described herein (unless deferred by the Fiscal Year 2005 Plan Participant).E.
    
    The Committee and the Board may also adjust the amounts of awards granted hereunder upon
consideration of unusual factors or unanticipated extraordinary events which have a
significant impact on the goals and targets established hereunder.
  III.     SPECIFIC FY 2005 PLAN STRUCTURE
 A.
    
    Executive Level Target Bonus Component Allocation
 Executive Level
    
    Target
    
    Corporate
    
    BU/FunctionalBonus %
    
    Performance
    
    ComponentBase Salary
    
    Component Weighting
    
    WeightingPresident & CEO
    
    100%
    
    100%
    
    Executive Vice
Presidents
    
    65%
    
    75%
    
    25%Senior Vice
Presidents
    
    45%
    
    75%
    
    25%




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B.
    
    Corporate Performance Component
 EPS
    
    Payout
    
    ROAAPercentageMaximum
    
    $3.30 and Above
    
    150%
    
    1.426% and Above3.29
    
    145%
    
    1.422%3.28
    
    140%
    
    1.418%3.27
    
    135%
    
    1.413%3.26
    
    130%
    
    1.409%3.25
    
    125%
    
    1.405%3.24
    
    120%
    
    1.400%3.23
    
    115%
    
    1.396%3.22
    
    110%
    
    1.392%3.21
    
    105%
    
    1.387%Target
    
    $3.20
    
    100%
    
    1.383%3.19
    
    95%
    
    1.379%3.18
    
    88%
    
    1.374%3.17
    
    80%
    
    1.370%3.16
    
    79%
    
    1.366%3.15
    
    78%
    
    1.361%3.14
    
    77%
    
    1.357%3.13
    
    76%
    
    1.353%3.12
    
    75%
    
    1.348%3.11
    
    74%
    
    1.344%3.10
    
    73%
    
    1.340%3.09
    
    72%
    
    1.335%3.08
    
    71%
    
    1.331%3.07
    
    70%
    
    1.327%3.06
    
    69%
    
    1.322%3.05
    
    68%
    
    1.318%3.04
    
    67%
    
    1.314%3.03
    
    66%
    
    1.309%3.02
    
    65%
    
    1.305%3.01
    
    64%
    
    1.301%3.00
    
    62%
    
    1.297%2.99
    
    60%
    
    1.292%2.98
    
    58%
    
    1.288%2.97
    
    53%
    
    1.284%2.96
    
    50%
    
    1.279%Threshold
    
    Below $2.96
    
    0%
    
    Below 1.279%




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C.
    
    Business Unit/Functional Performance Component
  BU/Functional
    
    Percentage ofPerformance Rating
    
    Award EarnedOutstanding Performance
    
    125% - 150%Exceeded Expectations
    
    110% - 125%Fully Met Expectations
    
    100%Met Minimum Expectations
    
    50% - 80%Did Not Meet Expectations
    
    0%




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IV.     PAYMENT OF AWARDS
 A.
    
    Once awards have been calculated in accordance with the foregoing process and submitted to
and approved by the Committee, the Committee shall notify each of the FY2005 Plan participants
in writing of the amount, if any, of his or her award. Thereafter, payment of any such awards
will be made as follows:
 (1)
    
    Subject to the provisions of subsection (3) hereof, a cash payment equal to
such percentage of the award as shown in the following table (unless the Participant
has made a timely election to defer all or part of the award or is required to defer
receipt of such payment due to the applicability of Section 162(m) of the Internal
Revenue Code) will be made within 15 days of the date of the award notice:
 
 (2)
    
    In the discretion of the Committee (the Compensation Committee)
administering the 2005 Stock Incentive Plan (SIP), a grant of shares of ICBC common
stock pursuant to the SIP (unless the FY2005 Plan Participant has made a timely
election to defer receipt of all or a portion of such shares or is required to defer
receipt of such shares due to the applicability of Section 162(m) of the Internal
Revenue Code) shall be made with respect to the remaining portion of the award. It
is expected that such grant shall vest over a three year period, with one-third of
such shares vesting on each anniversary date of the granting of such award for a
three-year period. The number of shares awarded shall be determined by discounting
the closing price of ICBC common stock on the date the award is approved by 15% and
dividing the adjusted price into the dollar amount of the applicable percentage of
the award. A Participants unvested portion will become fully vested upon his or her
death, disability, retirement or a change in control only as provided in the
SIP. However, the award of a Participant whose employment terminates prior to
payment of the award shall be paid entirely in cash.(3)
    
    In the event the Compensation Committee determines not to grant restricted
stock awards with respect to any portion of an award, then such remaining amount
shall be paid in cash within 15 days of the date of the Compensation Committees
determination not to make such restricted stock awards.
 B.
    (1)
    
    In the event that a FY2005 Plan Participant is a covered employee for purposes of Section
162(m) of the Internal Revenue Code and such FY2005 Plan Participants applicable employee
remuneration in a particular tax year exceeds or is likely to exceed the limitation as
specified in Section 162(m) of the Code, the Committee may request that such FY2005 Plan
Participant defer the payment of all or a portion of the FY2005 Plan Participants award to be
received under the FY2005 Plan or such other plans and programs, employment agreements and
arrangements of the Company to the extent necessary to avoid the payment of employee
remuneration for such tax year in excess of the Section 162(m) limit.(2)
    
    Notwithstanding any other provision of the FY2005 Plan, any FY2005 Plan Participant may
elect, consistent with any rules and regulations




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established by the Committee, to defer the receipt of all or any portion of an award
granted hereunder. The election to defer the receipt of the award must be made no
later than two months before the end of the calendar year preceding the calendar year
in which the FY2005 Plan Participant would otherwise have an unrestricted right to
receive such award. Any election to defer the receipt of an award, in whole or in
part, shall be irrevocable as long as the FY2005 Plan Participant remains an employee
of the Company, the Bank or one of their subsidiaries.(3)
    
    The Committee may, at its sole discretion, allow for the early payment of a
FY2005 Plan Participants deferred award account in the event of an unforeseeable
emergency or in the event of the death or disability of the FY2005 Plan Participant.
An unforeseeable emergency means an unanticipated emergency caused by an event
beyond the control of the FY2005 Plan Participant that would result in severe
financial hardship if the distribution were not permitted. Such distributions shall
be limited to the amount necessary to sufficiently address the financial hardship.
Any distributions under this provision shall be consistent with the Internal Revenue
Code and the regulations promulgated thereunder. Additionally, the Committee may use
its discretion to cause award accounts to be distributed when continuing the program
is no longer in the best interest of the Company or the Bank.(4)
    
    No FY2005 Plan Participant or other person shall have any interest in any
fund or in any specific asset of the Company or the Bank by reason of any amount
credited pursuant to the provisions hereof. Any amounts payable pursuant to the
provisions hereof shall be paid from the general assets of the Company or the Bank or
a subsidiary thereof and no FY2005 Plan Participant or other person shall have any
rights to such assets beyond the rights afforded general creditors of the Company or
the Bank. However, the Company or the Bank or a subsidiary thereof shall have the
right to establish a reserve, trust or make any investment for the purpose of
satisfying the obligations created under the FY2005 Plan; provided, however, that no
FY2005 Plan Participant or other person shall have any interest in such reserve,
trust or investment.(5)
    
    To the extent not otherwise inconsistent with the provisions of the FY2005
Plan, FY2005 Plan Participants may defer awards hereunder in accordance with the
provisions of the Independence Community Bank Corp. Deferred Compensation Plan.




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V.     PROVISIONS RELATING TO SECTION 162(m)  OF THE INTERNAL REVENUE CODE