Document:

EX-4.1

 Exhibit 4.1 

CITIBANK CREDIT CARD ISSUANCE TRUST 

Citiseries 
 Class
2017-A2 Notes 
 Issuer Certificate 

Pursuant to Sections 202 and 301(h) of the Indenture 

Reference is made to the Second Amended and Restated Indenture dated as of September 26, 2000, as amended and restated as of
August 9, 2011, and as further amended and restated as of November 10, 2016 between Citibank Credit Card Issuance Trust (the “Issuer”) and Deutsche Bank Trust Company Americas, as trustee (as so further amended and restated, the
“Indenture”). Capitalized terms used herein that are not otherwise defined have the meanings set forth in the Indenture. All references herein to designated Sections are to the designated Sections of the Indenture. 

Section 301(h) provides that the Issuer may from time to time create a tranche of Notes either by or pursuant to an Issuer Certificate
setting forth the principal terms thereof. Pursuant to this Issuer Certificate, there is hereby created a tranche of Notes having the following terms: 

Series Designation: Citiseries. This series is included in Group 1. 

Tranche Designation: $1,750,000,000 1.74% Class 2017-A2 Notes of January 2019 (Legal Maturity Date January 2021) (hereinafter, the “Class 2017-A2
Notes”) 
 Currency: The Class 2017-A2 Notes will be payable, and denominated, in Dollars. 

Denominations: The Class 2017-A2 Notes will be issuable in minimum denominations of $100,000 and multiples of $1,000 in excess of that amount. 

Issuance Date: January 26, 2017 
 Initial
Principal Amount: $1,750,000,000 
 Issue Price: 99.98085% 

Interest Rate: 1.74% per annum, calculated on the basis of a 360 day year of twelve 30 day months. 

Scheduled Interest Payment Dates: The 17th day of each January and July, beginning July 17, 2017. 

Each payment of interest on the Class 2017-A2 Notes will include all interest accrued from and including the preceding Interest Payment Date — or, for
the first interest period, from and including the Issuance Date — to and including the day preceding the current Interest Payment Date, plus any interest accrued but not previously paid. 

 The first deposit targeted to be made to the Interest Funding sub-Account for the Class 2017-A2 Notes will be on
the February 17, 2017 Interest Deposit Date and in an amount equal to $1,776,250.00. 
 Expected Principal Payment Date: January 17, 2019

 Legal Maturity Date: January 19, 2021 

Monthly Principal Date: For the month in which the Expected Principal Payment Date occurs, January 17, 2019, and for each other month, the 17th
day of such month, or if such day is not a Business Day, the next following Business Day. 
 Required Subordinated Amount of Class B Notes:
$104,700,925.00 
 Required Subordinated Amount of Class C Notes: $139,601,175.00 

Controlled Accumulation Amount: $145,833,333.33 
 Form
of Notes: The Class 2017-A2 Notes will be issued as Global Notes. The Global Notes will initially be registered in the name of Cede & Co., as nominee of The Depository Trust Company, and will be exchangeable for individual Notes only in
accordance with the provisions of Section 204(c). 
 Additional Issuances of Class 2017-A2 Notes: The Issuer may at any time and from time to
time issue additional Class 2017-A2 Notes, subject to the satisfaction of (i) the conditions precedent set forth in Section 311(a) and (ii) the following conditions: 

 

	 	(a)	The Issuer has obtained written confirmation from each Rating Agency that there will be no Ratings Effect with respect to the then outstanding Class 2017-A2 Notes as a result of the issuance of such additional Class
2017-A2 Notes; 

  

	 	(b)	As of the date of issuance of the additional Class 2017-A2 Notes, all amounts due and owing to the Holders of the then outstanding Class 2017-A2 Notes have been paid and there is no Nominal Liquidation Amount Deficit
with respect to the then outstanding Class 2017-A2 Notes; 

  

	 	(c)	The additional Class 2017-A2 Notes will be fungible with the original Class 2017-A2 Notes for federal income tax purposes; 

  

	 	(d)	If Holders of the then outstanding Class 2017-A2 Notes have the benefit of a Derivative Agreement, the Issuer will have obtained a Derivative Agreement for the benefit of the Holders of the additional Class 2017-A2
Notes; and 

  

	 	(e)	The ratio of the Controlled Accumulation Amount to the Initial Dollar Principal Amount of the Class 2017-A2 Notes, including the additional Class 2017-A2 Notes, will be equal to the ratio of the Controlled Accumulation
Amount (before giving effect to the additional issuance) to the Initial Dollar Principal Amount of the Class 2017-A2 Notes, excluding the additional Class 2017-A2 Notes. 

  
 2 

 As of the date of issuance of additional Class 2017-A2 Notes, the Outstanding Dollar Principal Amount and Nominal
Liquidation Amount of the Class 2017-A2 Notes will be increased to reflect the Initial Dollar Principal Amount of the additional Class 2017-A2 Notes. 
 Any
outstanding Class 2017-A2 Notes and any additional Class 2017-A2 Notes will be equally and ratably entitled to the benefits of the Indenture without preference, priority or distinction. 

Optional Redemption Provisions other than Section 1202 “Clean-Up Call”: None 

Additional Early Redemption Events or changes to Early Redemption Events: None 

Additional Events of Default or changes to Events of Default: None 

Business Day: means any day other than (a) a Saturday or Sunday or (b) any other day on which national banking associations or state banking
institutions in New York, New York or South Dakota, or any other state in which the principal executive offices of any Additional Seller are located, are authorized or obligated by law, executive order or governmental decree to be closed. 

Securities Exchange Listing: None 

  
 3 

 The Class 2017-A2 Notes shall have such other terms as are set forth in the form of Note attached
hereto as Exhibit A. Pursuant to Section 202, the form of Note attached hereto has been approved by the Issuer. 
  

	
	CITIBANK CREDIT CARD ISSUANCE TRUST
	 By    Citibank, N.A.,

         as Managing Beneficiary

	
	/s/ Douglas C. Morrison
	 Douglas C. Morrison

	 Vice President

 Dated: January 26, 2017 

  
 4 

 Citiseries 

Class 2017-A2 Notes 

Reference is made to the resolutions adopted by the Board of Directors of Citibank, N.A. on January 28, 2016. The resolutions authorize
Citibank, N.A. from time to time to issue and sell, or to arrange for or participate in the issuance and sale of, one or more series and/or classes of pass-through certificates, participation certificates, commercial paper, notes, bonds or other
securities representing ownership interests in, or backed or secured by, pools of credit card receivables or interests therein (the “Receivables”) in an aggregate principal amount such that up to $55,000,000,000 of such certificates,
commercial paper, notes, bonds or other securities are outstanding at any one time and to sell, transfer, convey, assign or pledge or grant a security interest in all or any portion of its Receivables to Citibank Credit Card Master Trust I, Citibank
Omni Trust or any direct or indirect subsidiaries of Citibank, N.A., affiliates of Citigroup Inc., additional trusts or other entities or trustees in connection therewith on such terms as to be determined by the Citibank, N.A. Securitization Pricing
and Loan Committee (the “Pricing and Loan Committee”). 
 The undersigned, a duly authorized member of the Pricing and Loan
Committee, on behalf of such Pricing and Loan Committee, does hereby certify that the preceding Issuer Certificate, the terms of the tranche of Notes set forth in and to be created by the Issuer Certificate and the increase in the Invested Amount of
the Collateral Certificate resulting from the issuance of such Notes have been approved by such Pricing and Loan Committee. In addition, the following underwriting/selling agent terms with respect to this tranche of Notes have been approved by the
Pricing and Loan Committee: 
 Issue Price: 99.98085% 

Underwriting Commission: 0.22500% 

Proceeds to Issuer: 99.75585% 

Representative of the Underwriters: Citigroup Global Markets Inc. 

The preceding Issuer Certificate and this certification of Pricing and Loan Committee approval shall be, continuously from the time of their
execution, official records of Citibank, N.A. 
  

	
	/s/ Douglas C. Morrison
	Douglas C. Morrison

 Member of the Securitization Pricing and Loan Committee 

Citibank, N.A. 
 Dated: January 26, 2017 

  
 5 

 Exhibit A 

FORM OF 
 CITISERIES 

1.74% CLASS 2017-A2 NOTES OF JANUARY 2019 

(Legal Maturity Date January 2021) 
  

			
	$[                ],000,000	  	REGISTERED
	CUSIP No. 17305E GA7	  	No. R-[1][2][3][4]

 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN AND IN THE
INDENTURE REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

CITIBANK CREDIT CARD ISSUANCE TRUST 

CITISERIES 
 1.74% CLASS 2017-A2
NOTES OF JANUARY 2019 
 (Legal Maturity Date January 2021) 

CITIBANK CREDIT CARD ISSUANCE TRUST, a trust formed and existing under the laws of the State of Delaware (including any successor, the “Issuer”),
for value received, hereby promises to pay to CEDE & CO., or its registered assigns, the principal amount of [            ] HUNDRED MILLION DOLLARS
($[            ],000,000). The Expected Principal Payment Date for this Note is January 17, 2019. The Legal Maturity Date for this Note is January 19, 2021. 

The Issuer hereby promises to pay interest on this Note on the 17th day of each January and July, beginning July 2017, until the principal of this Note is
paid or made available for payment, subject to certain limitations set forth in the Indenture. Interest will accrue on the outstanding principal amount of this Note for each interest period in an amount equal to the product of (i) the

 
number of days in the interest period computed on the basis of a 360-day year of twelve 30-day months, (ii) a rate per annum equal to the Class 2017-A2 Note Rate for such interest period,
and (iii) the outstanding principal amount of this Note as of the preceding Interest Payment Date (after giving effect to any payments of principal made on the preceding Interest Payment Date) or, with respect to the first Interest Payment
Date, the initial principal amount of this Note. The Class 2017-A2 Note Rate will be determined as provided in the Indenture. 
 If any Interest Payment
Date or Principal Payment Date of this Note falls on a day that is not a Business Day, the required payment of interest or principal will be made on the following Business Day. 

This Note is one of the Citiseries, Class 2017-A2 Notes issued pursuant to the Second Amended and Restated Indenture dated as of September 26, 2000, as
amended and restated as of August 9, 2011, and as further amended and restated as of November 10, 2016 (as so further amended and restated and otherwise modified from time to time, the “Indenture”) between the Issuer and Deutsche
Bank Trust Company Americas, as Trustee. For purposes of this Note, the term “Indenture” includes any supplemental indenture or Issuer Certificate relating to the Citiseries, Class 2017-A2 Notes. This Note is subject to all of the terms of
the Indenture. All terms used in this Note that are not otherwise defined herein and that are defined in the Indenture will have the meanings assigned to them therein. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which will have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Trustee whose name
appears below by manual signature, this Note will not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by an Issuer
Authorized Officer. 
  

					
	CITIBANK CREDIT CARD ISSUANCE TRUST
		
	By:	 	CITIBANK, N.A., as Managing Beneficiary of Citibank Credit Card Issuance Trust
			
		 	By:	 	 
		 		 	     Douglas C. Morrison

    Vice President

 Dated: January 26, 2017 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within mentioned Indenture. 

 

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee under the Indenture
		
	By:	 	 
		 	      Authorized Signatory

 Dated: January 26, 2017 

 REVERSE OF NOTE 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Citiseries 1.74% Class 2017-A2 Notes of January 2019 (Legal Maturity
Date January 2021) (herein called the “Notes”), all issued under an Indenture, to which Indenture reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of
the Notes. 
 This Note ranks pari passu with all other Class A Notes of the same series, as set forth in the Indenture. This Note is secured to the
extent, and by the collateral, described in the Indenture. 
 The Issuer will pay interest on overdue interest as set forth in the Indenture to the extent
lawful. 
 Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a beneficial interest in this Note,
agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer or the Trustee on the Notes, against the Issuer, the Issuer Trustee, Citibank, N.A., the Trustee or any affiliate, officer, employee or
director of any of them, and the obligation of the Issuer to pay principal of or interest on this Note or any other amount payable to the Holder of this Note will be subject to Article V of the Indenture. 

Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a beneficial interest in this Note, in each case
other than Citibank, N.A. as Holder or owner, agrees that this Note is intended to be debt of Citibank, N.A. for federal, state and local income and franchise tax purposes, and agrees to treat this Note accordingly for all such purposes, unless
otherwise required by a taxing authority. 
 Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a
beneficial interest in this Note, agrees that it will not at any time institute against the Issuer, or join in any institution against the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other
proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to this Note, the Indenture or any Derivative Agreement. 

This Note and the Indenture will be construed in accordance with and governed by the laws of the State of New York. 

Certain amendments may be made to the Indenture without the consent of the Holder of this Note. This Note must be surrendered for final payment of principal
and interest. 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee:
                                     

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 
  

 
  

(name and address of assignee) 
 the within Note
and all rights thereunder, and hereby irrevocably constitutes and appoints
                                         
           , attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 

 

									
	Dated:	 	 	 		 	 	  	*
		 		 		 	Signature Guaranteed:	  	

  
  

* NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular
without alteration, enlargement or any change whatsoever.Exhibit 10.7

COMMUNITY TRUST BANCORP, INC.

SENIOR MANAGEMENT INCENTIVE

COMPENSATION PLAN

EFFECTIVE JANUARY 1, 2017

SENIOR MANAGEMENT INCENTIVE COMPENSATION PLAN

TABLE OF CONTENTS

ARTICLE

	
I.

	
Objectives

	
II.

	
Definitions

	
III.

	
Administration of the Plan

	
IV.

	
Participant Eligibility

	
V.

	
Payment to Participants

	
VI.

	
Determination of Annual Award Fund

	
VII.

	
Calculation of Award

Table I - 2017 Annual Cash Incentive Compensation

Award - Group I

Table II - 2017 Annual Cash Incentive Compensation

Award - Group II

Table III - 2017 Annual Cash Incentive Compensation

Award - Group III

Table IV - 2017 Senior Management Incentive

Compensation Plan - Stock Option Awards

	
VIII.

	
Miscellaneous Provisions

Attachment A - Notice of Participation

            Attachment B - Designation of Beneficiary

 

 

ARTICLE I

OBJECTIVES

Section 1.01

This plan is designed to reward senior management for meeting or exceeding industry standards for profitability and adopted to achieve the following objectives:

		(a)	
Increase the profitability and growth of Community Trust Bancorp, Inc. in a manner which is consistent with other goals of the Company, its stockholders and its employees,

		(b)	
Provide executive compensation which is competitive with other financial institutions,

		(c)	
Attract and retain personnel of outstanding ability and encourage excellence in the performance of individual responsibilities,

		(d)	
Motivate and reward those members of management who contribute to the success of the Company,

		(e)	
Distinguish among the performance contributions of some individuals by providing financial recognition for individual performance, as well as group performance, and

		(f)	
Allow the flexibility which permits revision and strengthening from time to time to reflect changing organizational goals and objectives.

ARTICLE II

DEFINITIONS

Section 2.01

As used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:

		(a)	
“Annual Incentive Plan” or “Annual Plan” shall mean the Senior Management Incentive Compensation Plan set forth in this document and all amendments thereto.

		(b)	
“Award Period” means one Fiscal Year.

		(c)	
“Board” means the Board of Directors of Community Trust Bancorp, Inc.

		(d)	
“Company” means Community Trust Bancorp, Inc., and its subsidiaries.

		(e)	
“Compensation Committee” means the Compensation Committee of the Board.

		(f)	
“Disability” means the total and permanent disability of a participant as defined by any Long-Term Disability Plans in effect for the Company and as thereafter may be amended.

		(g)	
“Effective Date” means the date upon which the Plan shall become effective.

		(h)	
“Fiscal Year” means the accounting period adopted by the Company for federal income tax purposes.

		(i)	
“Participant” means a person designated by the Company to participate in the Plan.

		(j)	
“Plan” shall mean the Company’s Senior Management Incentive Compensation Plan.

		(k)	
“Salary” or “Salaries” shall mean the base salary in effect for each participant as of the last pay period in December of the Award Period.

	
(l)

	
“Stock Option” shall mean stock options granted under the Community Trust Bancorp, Inc. 2015 Stock Ownership Incentive Plan as hereinafter may be amended including substitutions or replacements of the Plan.  Such options shall be Incentive Stock Options to the extent possible under tax laws in effect at the time the option is awarded.

	
(m)

	
“Restricted Stock” shall mean restricted stock granted under the Community Trust Bancorp, Inc. 2015 Stock Ownership Incentive Plan as hereinafter may be amended including substitutions or replacements of the Plan.

ARTICLE III

ADMINISTRATION OF THE PLAN

Section 3.01

The Compensation Committee shall administer the Plan and employ such other agents as may reasonably be required to administer the Plan.

Section 3.02

The Compensation Committee shall adopt such rules and regulations of general application as are beneficial for the administration of the Plan and shall make all discretionary decisions involving a participant of the Plan. Said committee shall also have the right to interpret the Plan, to determine the Effective Date, and to approve all employees who are to participate in the Plan.

Section 3.03

A majority of the Compensation Committee shall constitute a quorum.  The acts of a majority of the members present at any meeting at which there is a quorum shall be valid acts.  Acts reduced to and approved in writing by a majority of said committee shall also be valid acts.

Section 3.04

All incentive compensation payable under the Plan shall be paid from the general assets of the Company.  To the extent that any person acquires a right to receive payments under the Plan, such right shall be no greater than the right of any unsecured creditor of the Company.

Section 3.05

The Compensation Committee may authorize the Chairman, President and CEO of the Company to send a written notice of such Plan to each selected Participant.  No person shall have the right to be included in the Plan until receiving said notice in the form of Attachment "A" hereto.

Section 3.06

All costs and expenses involved in the administration of this Plan shall be paid by the Company.

Section 3.07

Any determination or action of the Compensation Committee or the Board shall be final, conclusive and binding on all participants and their beneficiaries, heirs, personal representatives, executors and administrators.

Section 3.08

The Board of Directors, in its sole discretion, may amend, modify or terminate the Plan at any time.  The Compensation Committee shall also annually review the pre-determined performance standards and may amend such schedules in its sole discretion. Notwithstanding the foregoing, after the 90th day of the year, the performance standards may not be amended in a manner which would increase the amount of incentive compensation payable over the amount which would have been payable under the performance standards previously established for such year.

ARTICLE IV

PARTICIPANT ELIGIBILITY

Section 4.01

The following groups shall participate in the Plan:

		(a)	
Group I shall consist of CEOs of Community Trust Bancorp, Inc. (CTBI) and Community Trust Bank, Inc. (CTB) plus all other Executive Committee positions of the Corporation.

		(b)	
Group II shall consist of the (1) CTB officers responsible for the various consolidated functions as selected by the CTB CEO; (2) the Presidents of each market; and (3) the Community Trust and Investment Company (CTIC) officers responsible for various departments as selected by the CTIC CEO.

	
(c)

	
Group III shall consist of Senior Vice Presidents of consolidated functions who are selected for participation by the Compensation Committee.

	
(d)

	
Individuals below senior vice president level may be recommended and approved by the Compensation Committee for special awards of options for extraordinary performance.

Section 4.02

Voluntary or involuntary termination of full-time employment of a Participant prior to the payment of incentive awards for an Award Period will result in such Participant forfeiting any incentive compensation for the Award Period (except as provided in Section 4.03 herein).

Section 4.03

If a Participant dies, retires, becomes disabled, or is granted a leave of absence during an Award Period, the Compensation Committee may, at its discretion or under such rules as it may have prescribed, award partial incentive compensation based on the level of achievement in relation to goals established for the Award Period.

Section 4.04

Directors who are also employees of the Company shall be eligible to participate in the Plan.  However, a director who is compensated on the basis of a fee or retainer, as distinguished from a salary, shall not be eligible.

Section 4.05

New employees of the Company and persons promoted during the Award Period who were not eligible to participate in the Plan at the beginning of the Award Period, but have become a member of Group I, II, or III shall participate in the Plan so long as such eligibility came into existence no later than six (6) months after the beginning of said Award Period.  If a person becomes eligible at a date later than six (6) months into an Award Period, such person shall not be a Participant under this Plan until the first day of the next Award Period.

ARTICLE V

PAYMENT TO PARTICIPANTS

Section 5.01

Incentive compensation to be awarded under the Plan shall be paid to Participants within thirty days after the close of the Award Period.  Awards are not earned until paid to Participants.

Section 5.02

A Participant may elect to defer payment of all or part of his or her incentive compensation so long as the Participant requests such deferred payment under the terms of the Company’s Voluntary Deferred Compensation Plan.

ARTICLE VI

DETERMINATION OF ANNUAL AWARD

Section 6.01

The actual amount of the Senior Management Incentive Compensation Plan award shall be calculated according to a schedule comparing earnings per share (EPS) and return on average assets (ROAA) for the Award Period to a pre-determined performance standard.  When performance meets the established performance standards, the award fund will be adjusted according to the performance table.

Section 6.02

In the event that the ROAA or EPS targeted performance is not attained but the target net income is attained, the amount of the award under the Senior Management Incentive Plan shall be paid at the base level of target performance payment.

Section 6.03

There shall be a minimum acceptable performance beneath which no incentive awards are paid and a maximum above which there is no additional award paid to avoid excessive payout in the event of windfall profits.  Said minimum and maximum shall be reviewed annually and amended when necessary at any time in the sole discretion of the Compensation Committee; provided, however, that the minimum may not be reduced and the maximum may not be increased after the 90th day of the year.

Section 6.04

A Participant who is rated a "4" or "5" on the most recent Performance Appraisal and Development Plan shall not be eligible to receive an award under the Plan.

ARTICLE VII

CALCULATION OF AWARD

Section 7.01

The Corporation’s Group I will earn an award determined by EPS and ROAA as shown below:

TABLE I

2017 ANNUAL CASH INCENTIVE COMPENSATION AWARD

INITIAL CALCULATION

Group I - Executive Committee of Community Trust Bancorp, Inc.

	
Target

	
Award as a % of Target Award

	
Award as a % of Salary

	
Award as a % of Salary

	
Award as a % of Salary

	
ROAA

	 	
CTBI CEO

	
CTB CEO

	
Group I

	 	
1.16

	
50%

	
25%

	
20%

	
15%

	
Base

	
1.22%

	
100%

	
50%

	
40%

	
30%

	 	
1.25%

	
150%

	
75%

	
60%

	
45%

	 	
1.28%

	
200%

	
100%

	
80%

	
60%

	
·

	
For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company’s budget.

	
·

	
For 2017, net income target is $49,618,000.

	
·

	
These results are after accrual of the incentive.

 

Section 7.02

The Corporation’s (Group II) will earn an award determined by EPS growth and ROAA as shown below:

TABLE II

2017 ANNUAL CASH INCENTIVE COMPENSATION AWARD

INITIAL CALCULATION

Group II – Consolidated Division Officers of CTBI and Market Presidents

	

 Target

	
Award as a % of

Target Award

	
Award as a % of Salary

	
ROAA

	 	
Group II

	 	
1.16%

	
50%

	
3.50%

	
Base

	
1.22%

	
100%

	
7.00%

	 	
1.25%

	
112%

	
7.84%

	 	
1.28%

	
125%

	
8.75%

	
·

	
For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company’s budget.

	
·

	
For 2017, net income target is $49,618,000.

	
·

	
These results are after accrual of the incentive.

Section 7.03

Senior Vice Presidents of consolidated functions designated by the Compensation Committee will earn an award determined by EPS growth and ROAA as shown below:

TABLE III

2017 ANNUAL CASH INCENTIVE COMPENSATION AWARD

INITIAL CALCULATION

Group III - Senior Vice Presidents of Consolidated Functions

	

 Target

	
Award as a % of

Target Award

	
Award as a % of Salary

	
ROAA

	 	
Group III

	 	
1.16%

	
 50%

	
2.75%

	
Base

	
1.22%

	
100%

	
5.50%

	 	
1.25%

	
106%

	
5.83%

	 	
1.28%

	
122%

	
6.71%

	
·

	
For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company’s budget.

	
·

	
For 2017, net income target is $49,618,000.

	
·

	
These results are after accrual of the incentive.

Section 7.04

Participants in Groups I, II, and III shall be eligible to receive Stock Option awards on the same day that cash awards are paid under the terms of this Plan.  Such Stock Options shall have a face value equal to the percentage of salary shown on Table IV below, adjusted in the same manner and in the same proportion as cash awards are adjusted under the terms of Sections 7.01, 7.02, and 7.03, and rounded down as necessary to grant for whole shares. The Committee at its sole discretion may choose to issue Restricted Stock or a combination of Options and Restricted Stock of an amount recommended by the Compensation Committee and approved by the Board of Directors of Community Trust Bancorp, Inc. subject to any limitations of the 2015 Stock Ownership Incentive Plan.

TABLE IV

2017 SENIOR MANAGEMENT INCENTIVE COMPENSATION PLAN

STOCK OPTION AWARDS

	
Target

	
Stock Option Award as a % of Salary

	
ROAA

	
CTBI CEO

	
CTB CEO

	
Group I

	
Group II

	
Group III

	 	
1.16%

	
10.00%

	
   8.757%

	
   7.50%

	
   5.00%

	
2.25%

	
Base

	
1.22%

	
20.00%

	
17.515%

	
15.00%

	
10.00%

	
4.50%

	 	
1.25%

	
21.00%

	
18.375%

	
15.75%

	
10.50%

	
4.75%

	 	
1.28%

	
23.00%

	
20.125%

	
17.25%

	
11.50%

	
5.00%

	
·

	
For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company’s budget.

	
·

	
For 2017, net income target is $49,618,000.

	
·

	
These results are after accrual of the incentive.

ARTICLE VIII

MISCELLANEOUS PROVISIONS

Section 8.01

The Compensation Committee may elect to remove unusual, extraordinary or non-recurring items from the calculation of the earnings per share.

Section 8.02

The Company shall not merge into or consolidate with another entity or sell all or substantially all of its assets to another entity unless such other entity shall become obligated to perform the terms and conditions hereof relating to any awards already earned but not yet paid to the participant on his/her behalf.

ATTACHMENT A

NOTICE OF PARTICIPATION

 

________________________ is eligible for participation in the 2017 Plan Year for Community Trust Bancorp, Inc. Senior Management Incentive Compensation Plan, such participant being subject to all of the terms and conditions of said Plan.

Compensation Committee of the Board of Directors

BY: ___________________________________

Dated: ____________________

ATTACHMENT B

DESIGNATION OF BENEFICIARY

I, ___________________________________, a participant in the Community Trust Bancorp, Inc. Senior Management Incentive Compensation Plan, name the following as my primary beneficiary under said Plan in the event of my death prior to receiving an award payable to me under said Plan.

 

Name ___________________________________

Relationship _______________________________

Address __________________________________

 

If the primary beneficiary predeceases me, I designate the following persons as a contingent beneficiary, in the order shown, to receive an award payable to me under the Plan:

 

Name ___________________________________

Relationship _______________________________

Address __________________________________

 

Name ___________________________________

Relationship _______________________________

Address __________________________________

 

Name ___________________________________

Relationship _______________________________

Address __________________________________

 This supersedes any previous beneficiary designation made by me with respect to this Plan.  However, any compensation covered by the Community Trust Bancorp, Inc. Voluntary Deferred Compensation Plan shall be governed by the Beneficiary Designation applicable to that Plan.

 

Date _________________

Signature of Participant ___________________________

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