Document:

2010 Audit Performance Unit Plan

 EXHIBIT 10.14 
 FHLBANK San Francisco 
 2010 Audit Performance Unit
Plan 
 Summary Description 
 PLAN PURPOSE 
 To optimize the Audit Department’s long-term performance
in accomplishing Audit Committee-approved goals. 
 PLAN OBJECTIVES 
 To motivate the Audit Department senior executive to exceed goals on a long-term basis that directly support the annual audit plans and strategic
departmental objectives. To attract and retain an outstanding executive by providing a competitive total compensation program, including a cash-based long-term incentive reward opportunity tied to the performance of the Audit Department against
specified performance measures. 
 PARTICIPANT 
 The participant is a key executive whose performance has a major impact on the Audit Department’s success. The participant is an incumbent in the Audit Department’s senior executive position:

 Senior Vice President, Director of Internal Audit 
 PERFORMANCE PERIOD 
 The Audit Performance Unit Plan (APUP) pays incentive
awards related to the achievement of the Audit Department performance over a three-year performance period. The 2010 Plan is effective January 1, 2010, and is based on performance from January 1, 2010, through December 31, 2012.

 PERFORMANCE METRICS 
 The target performance level reflects long-term Audit Department performance expectations. Unlike the annual Audit Executive Incentive Plan (AEIP), the participant does not have an individual goal. 
  

	1.	Three-Year Average Annual AEIP Departmental Goal Achievements: Measured by the average of the actual departmental goal achievement levels under the 2010, 2011,
and 2012 AEIP (short-term incentive plan), determined at the end of the performance period. 

 APUP ACHIEVEMENT
MEASURES 
 The Audit long-term incentive plan rewards four levels of performance achievement, as follows: 
  

			
	 Achievement Level
	  	 Measure Definition

	200% of Target	  	The most optimistic achievement level that far exceeds levels forecasted from expected business.
		
	150% of Target	  	An optimistic achievement level that exceeds levels forecasted from expected business.
		
	Target (100%)	  	Performance that is expected under the Bank’s Plan.
		
	Threshold (75%)	  	Minimum level of performance that must be achieved for awards to be paid.

 AWARD DETERMINATION 
 An award is calculated and paid, in whole or part, at the end of the 2010 plan term (during the first quarter of 2013) based on achievement of a minimum level of performance under the goals. Awards earned
are based on the level at which the three-year performance goals have been achieved. Final awards will be prorated for a participant promoted or hired into position during the performance period, and for a participant who takes a leave of absence
during the performance period. Target payout for the January 1, 2010 through December 31, 2012, performance period is presented in the table under the Award Opportunity section below. 
 Award payouts may be modified up or down at the Audit Committee’s discretion (+/- 25% of the dollar award derived from the Award Range Scale below) to
account for performance that is not captured in the performance metrics. Performance below the threshold achievement level for any measure will normally not result in an incentive award. 
 AWARD OPPORTUNITY 
 APUP targets for each three-year
performance period are established annually for the participant at the beginning of each calendar year. Target award levels are stated below as a percentage of the February 1st base salary at the beginning of the three-year performance period. 
 Award Range Scale (some % rounded) 
 2010 Plan Year – APUP Payout as % of 2010 Base Salary (as of February 1st) 
  

													
	 Position Level
	  	Threshold1	 	 	Target2	 	 	150% of Target3	 	 	200% of Target4	 
	 Senior Vice President
	  	18	% 	 	35	% 	 	52.5	% 	 	70	% 

 Notes:

  

			
	1 –	 	50% of target payout; based on the average of the actual three-year annual AEIP’s departmental goal(s) performance during the plan period.
		
	2 –	 	100% of target payout; based on the average of the actual three-year annual AEIP’s departmental goal(s) performance during the plan period.
		
	3 –	 	150% of target payout; based on the average of the actual three-year annual AEIP’s departmental goal(s) performance during the plan period.
		
	4 –	 	200% of target payout; based on the average of the actual three-year annual AEIP’s departmental goal(s) performance during the plan period.

 Awards will be considered by the Audit Committee and Board at the end of the three-year performance period. Cash awards are paid to the participant at the
end of the three-year performance period (during the first quarter of 2013). 
 Example of how award would be calculated
for the Senior Vice President for 2010 APUP Plan Period 
  

													
	 (100% weight)
 3-year Average Annual AEIP
 Departmental Goal Levels Achieved:
 (160% of Target)
	 	  
 }
	  	Percent of Target Payout:
160%	  	2010 Base
Salary	  	Target APUP Payout
(% of Base Salary)	  	Payout % Based
on Performance	  	APUP Payment
paid Q1 2013
	 	  	  	$330,000 X	  	35% X	  	160% =	  	$184,800
	 	  	  		  		  		  	

 Payments under this plan are subject to approval by the Audit Committee and the Board of Directors. To be
eligible for the Audit Performance Unit Plan payment, a participant must be employed with the Bank through the end of the three-year performance period, except in the case of a voluntary normal retirement, a qualified long-term disability, or death.
APUP awards will be prorated for a participant in the position less than a full plan term, including a participant who has a leave of absence greater than one month during the plan term. Any awards will be distributed as soon as administratively
possible following the effective date of Audit Committee and Board approval. All compensation and incentive plans are subject to review and revision at the Bank’s discretion. Such plans are reviewed regularly to ensure they are competitive and
equitable. Audit Department senior executive compensation and benefit programs are subject to Federal Housing Finance Agency review and oversight, and payments made under such programs may be subject to the Agency’s approval under applicable
laws and regulations in effect from time to time.2008 Audit Performance Unit Plan

 EXHIBIT 10.16 
 FHLBANK San Francisco 
 2008 Audit Performance Unit
Plan 
 Summary Description 
 PLAN PURPOSE 
 To optimize the Audit Department’s long-term performance
in accomplishing Audit Committee approved goals. 
 PLAN OBJECTIVES 
 To motivate the Senior Vice President and Director of Internal Audit to exceed Audit Department goals on a long-term basis that directly support the annual
audit plans and strategic departmental objectives. Attract and retain an outstanding executive by providing a competitive total compensation program, including a cash-based long-term incentive reward opportunity tied to the performance of the Audit
Department against specified performance measures. 
 PARTICIPANT 
 Participant is a key executive whose performance has a major impact on the Audit Department’s success. Participant is an incumbent in the Audit
Department’s senior officer position: 
 Senior Vice President and Director of Internal Audit 
 PERFORMANCE PERIOD 
 The Audit
Performance Unit Plan (APUP) pays incentive awards related to the achievement of Audit Department performance over a three-year performance period. The 2008 Plan is effective January 1, 2008 and is based on performance from January 1, 2008
through December 31, 2010. 
 PERFORMANCE METRICS 
 The target performance level reflects long-term performance expectations. Unlike the annual Audit Incentive Plan (AIP), the participant does not have an individual goal. 
  

	1.	3-Year Average Annual Audit Incentive Plan Departmental Goal Achievements: Measured by the average of the actual departmental goal achievement levels under the
2008, 2009, and 2010 Audit Incentive Plans [short-term incentive plans], to be set at the end of the performance period. 

 ACHIEVEMENT MEASURES 
 The Audit Long Term Incentive Plan rewards four levels of performance achievement, as
follows: 
  

			
	 Achievement Level
	  	 Measure Definition

	Threshold (75%)	  	Performance that is considered a threshold level of successful achievement. This is the minimum level of performance which must be achieved for awards to be
paid.
		
	Target (100%)	  	Performance that is expected under the Audit Department’s Plan. Incentive payments are made at the target (100%) level found in the award ranges scale on the following page.

		
	150% of Target	  	An optimistic achievement level based on expected business.
		
	200% of Target	  	The most optimistic achievement level based on reasonable business assumptions and conditions.

 AWARD DETERMINATION 
 An award is calculated and paid in whole or part at the end of the 2008 Plan term (during the first quarter of 2011) based on achievement of a minimum level of performance under the goals. Awards earned
are based on the level at which the 3-year performance goals have been achieved. Final awards will be prorated for a Participant promoted or hired into position during the Performance Period, and for a Participant who takes a leave of absence during
the Performance Period. Target payout for the January 1, 2008 through December 31, 2010 performance period is presented in the table under the Award Opportunity section below. 
 Award payouts may be modified up or down at the Audit Committee’s discretion (+/- 25% of the dollar award derived from the table) to account for performance that is not captured in the performance
metrics. Performance below the threshold achievement level for any measure normally will not result in an incentive award. 
 AWARD
OPPORTUNITY 
 Individual APUP targets for each three-year performance period are established annually for the
participant at the beginning of each calendar year. Target award levels are stated below as a percentage of the February 1st base salary at the beginning of the three-year performance period. 
 Award Range Scale (some % rounded) 
 2008 Plan Year – APUP Payout as % of 2008 Base Salary (as of February 1st) 
  

													
	 Position Level
	  	Threshold1	 	 	Target2	 	 	150% of Target3	 	 	200% of Target4	 
	 Senior Vice President 
	  	18	% 	 	35	% 	 	53	% 	 	70	% 

 Notes:

  

			
	1 –	 	50% of target payout; based on the actual 3-year annual audit incentive plan’s departmental goal(s) performance during the plan period.
		
	2 –	 	Based on the average of the actual 3-year annual audit incentive plan’s departmental goal(s) performance during the plan period.
		
	3 –	 	150% of target payout; based on the actual 3-year audit incentive plan’s departmental goal(s) performance during the plan period.
		
	4 –	 	200% of target payout; based on the actual 3-year audit incentive plan’s departmental goal(s) performance during the plan period.

 Cash awards are paid to the participant at the end of the 3-year performance period (during the first quarter of 2011). 
 Example of how award is calculated for the Senior Vice President for 2008 Plan Period 
  

													
	 (100% weight)
 3 year Average Annual AIP
 Departmental Goal Levels Achieved:
 (160% of Target)
	 	  
 }
	  	Percent of Target Payout:
160%	  	2008 Base
Salary	  	Target PUP Payout
(% of Base Salary)	  	Payout % Based
on Performance	  	PUP Payment
paid Q1 2011
	 	  	  	$285,000 X	  	35% X	  	160% =	  	$159,600
	 	  	  		  		  		  	

 Payments under this plan are subject to the approval of the Audit Committee. To be eligible for the performance
unit plan payment the officer must be employed with the Bank when the payment is disbursed. Long term incentive awards will be prorated for a participant in position less than a full three-year plan period, including a participant that has a leave
of absence greater than one month during the plan period. The awards will be distributed no later than two business days following the date of Audit Committee of the Board of Directors approval. All compensation and incentive plans are subject to
review and revision at the Bank’s discretion. Such plans are reviewed regularly to ensure they are competitive and equitable.

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