Exhibit 10.37


 


HOME FEDERAL BANK


Short-Term Incentive Plan


(as amended and restated
effective July 1, 2010)


 


1.             Purpose


 


The
purpose of the Home Federal Bank (“the Bank”) Short-Term Incentive Plan is to
reward senior managers of the Bank for the attainment of corporate objectives.
The Plan is designed to motivate, reward and retain key executives. This Plan
was approved by the Personnel, Compensation and Benefits Committee of the Board
of Directors to be effective July 1, 2010.


 


2.                                       Participation


 


The
Short-Term Incentive Plan is for selected management staff of Home Federal
Bank. Participation in this Plan will be recommended by the Chairman and CEO
and approved by the Personnel, Compensation and Benefits Committee of the Board
of Directors. Participation in any one year does not guarantee the
participation in future years or at the same award level.


 


New
hires to the Corporation and individuals promoted to assignments which by
virtue of their responsibilities may be otherwise eligible to participate in
this Plan may only participate with the approval of the Chairman and CEO. The
Plan Year is the Corporation’s fiscal year.


 


3.                                       Performance
Measure, Award Levels and Award Payment


 


The
annual performance measure, award levels and award payment provisions are identified
in Addendum I. Unless otherwise specifically provided in Addendum I, payment
shall be in a lump sum within 21⁄2 months after the close of the Plan Year.


 


4.                                       Termination
of Employment


 


If
during the fiscal year of the Bank, a plan participant terminates his or her
employment or if the Bank terminates the employment of the plan participant
during that same period, all rights to an Award under the plan for that year
are forfeited. If the employment of a plan participant terminates after the end
of the fiscal year but before the benefits are paid, no such rights are
forfeited. Notwithstanding the provisions hereof, in the event of death,
disability, retirement, or for those individuals who participate in the Plan
and have executed a Change in Control Agreement with the Bank, the provision of
paragraph 5 shall apply.


 


5.                                       Death,
Disability, Retirement, and Change in Control


 


If
a Plan participant dies, becomes disabled, retires, or is entitled to benefits
under a Change in Control Agreement during a Plan Year, the plan participant or
the plan participant’s designated beneficiary shall receive an incentive
payment for the partial year based on the number of months from the start of
the Plan Year (or if later, from the first day of the month coincident with or
next following the participant’s date of participation in the Plan) to the last
day of the month in which the death, disability, retirement, or the Date of
Termination as defined in the Change in Control Agreement, occurs, but only to
the extent that an incentive payment is otherwise earned for the Plan Year.


 


6.                                       Beneficiary
Designation


 


Any
incentive payment following the death of a participant shall be paid to such
person or persons, or other legal entity, as the participant may have
designated in writing and delivered to Home Federal Bank. The participant may
from time to time revoke or change any such designation by writing to Home
Federal Bank. If there is no unrevoked designation on file at the participant’s
death, or if the person or persons designated therein shall have all
pre-deceased the participant, such distribution shall be made to the
participant’s estate.


 

















 


7.                                       Administration
and Interpretation of the Plan


 


The
Plan shall be administered by the Chairman and CEO of the Bank whose actions
will be subject to the approval of the Personnel, Compensation and Benefits
Committee in material matters. The role of the Committee shall be to approve
the Home Federal Bank’s Short-Term Incentive Plan, approve the annual target
goal, approve Plan participants and (at the end of the Plan Year) approve the
distribution of the incentive payment to all participants. The Plan
Administrator is charged with the effective administration of the Plan
including the interpretation in instances where the Plan is silent.


 


The
Personnel, Compensation and Benefits Committee reserves the right, from time to
time, to prescribe rules and regulations at such time and in such manner
as it may deem appropriate.


 


8.                                       Amendment/Termination
of Plan


 


The
Plan may be amended and shall be interpreted by the Personnel, Compensation and
Benefits Committee, and its interpretation shall be final and binding on
participant and all other parties of interest. The Plan may be terminated at
any time as the Personnel, Compensation and Benefits Committee of the Board of
Directors approves. Plan participants will be notified as soon as possible in
the event of an amendment or termination occurs.


 


9.                                       Employment


 


The
Plan is not intended as an Employment Agreement. The Plan does not restrict the
rights of the Bank to terminate the employment of a Plan participant at any
time and without any obligation under the Plan.


 


10.                                 Legal
Requirements


 


The
Plan will be administered in accordance with all federal, state and local
statutory requirements.


 


11.                                 Effective
Date


 


This
Amendment and Restatement becomes effective July 1, 2010.


 


*  *  *  *  *


 


The
undersigned, an authorized executive officer of the Bank, certifies that this
is the Home Federal Bank Amended and Restated Short-Term Incentive Plan amended
and restated effective July 1, 2010.


 


	
   

  	
  HOME
  FEDERAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  

  
	
   

  	
   

  	
  Curtis
  L. Hage

  
	
   

  	
  Its:

  	
  Chairman
  and CEO