ex10_8.htm


    


     

     Capitol Federal
Financial

     

     

    Exhibit
10.8

     

     

    Named Executive Officer
Salary and Bonus Arrangements

     

     

    Base
Salaries

     

     

    The base
salaries, effective July 4, 2009, for the executive officers (the "named
executive officers") of Capitol Federal Financial who will be named in the
compensation table that appears in the Company's annual meeting proxy statement
for the fiscal year ended September 30, 2009 are as follows

     

    
      	
              Name and Title

            	
              Base Salary

            
	 
      	 
      
	
              John
      B. Dicus

              Chairman,
      President and Chief Executive Officer

            	
              $500,000

            
	 
      	 
      
	
              John.
      C. Dicus

              Chairman
      Emeritus

            	
              $180,000

            
	 
      	 
      
	
              R.
      Joe Aleshire

              Executive
      Vice President

            	
              $224,500

            
	 
      	 
      
	
              Larry
      K. Brubaker

              Executive
      Vice President

            	
              $224,500

            
	 
      	 
      
	
              Kent
      G. Townsend

              Chief
      Financial Officer

            	
              $230,000

            
	 
      	 
      
	
              Morris
      J. Huey II

              Executive
      Vice President

            	
              $225,000

            


    

     

    Bonus
Plans

     

    The
Compensation Committee of the Company’s board of directors has approved a
short-term performance plan (the “STPP”).  The STPP provides for
annual bonus awards, as a percentage of base salary, to selected management
personnel based on the achievement of pre-established corporate and individual
performance criteria.  Awards, if any, are typically made in January
for the fiscal year ended the preceding September 30th.  The STPP will
expire following the payment of bonuses for fiscal 2013.  The STPP was
filed on December 1, 2008 as Exhibit 10.10 to the Annual Report on Form 10-K for
the fiscal year ended September 30, 2008.

    


    The
corporate performance criteria under the STPP are comprised of targeted levels
of the Company’s return on average equity, basic earnings per share and
efficiency ratio.  For each executive officer named below, with the
exception of John C. Dicus, 90% of his award will continue to be based on the
attainment of corporate performance goals, with the remainder based on his
achievement of individual performance objectives.  For John C. Dicus,
100% of his award will be based upon the attainment of corporate performance
goals.

    


    Under the
STPP, the maximum potential annual bonus awards for the executive officers whom
the Company believes are likely to be named in the summary compensation table in
the Company’s proxy statement for its annual meeting of stockholders following
the end of fiscal year 2009 are as follows:  John B. Dicus, Chairman,
President and Chief Executive Officer, 60% of base salary; Larry K. Brubaker,
Executive Vice President for Corporate Services, 40% of base salary; Kent G.
Townsend, Executive Vice President and Chief Financial Officer, 40% of base
salary; Richard J. Aleshire, Executive Vice President for Retail Operations, 40%
of base salary, Morris J. Huey II, Executive Vice President and Chief Lending
Officer, 40% of base salary, and John C. Dicus, 30% of base salary.

    


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
Compensation Committee of the Company’s board of directors has approved a
deferred incentive bonus plan (the “DIBP”).  Under the DIBP, a portion
of the bonus awarded under the STPP (from $2 thousand to as much as 50% of the
award, up to a maximum of $100 thousand) to an officer eligible to participate
in the DIBP may be deferred under the DIBP for a three year
period.  The total amount of the deferred bonus, plus up to a 50%
Company match, is deemed to be invested in the Company’s common stock at the
closing price as of the December 31st immediately preceding the deferral
date.  If the participant is still employed at the end of the deferral
period, the participant will receive a cash payment equal to the sum of: (1) the
deferred amount, (2) the Company match, (3) the value of all dividend
equivalents paid during the deferral period on the Company common stock in which
the participant is deemed to have invested and (4) the appreciation, if any,
during the deferral period on the Company common stock in which the participant
is deemed to have invested.  The DIBP was filed on May 5, 2009 and is
incorporated by reference as Exhibit 10.4 to the Quarterly Report on Form 10-Q
for the quarter ended March 31, 2009.