Document:

ex10_8.htm

Capitol Federal Financial

 

 

Exhibit 10.8

 

 

Named Executive Officer Salary and Bonus Arrangements

 

 

Base Salaries

 

 

The base salaries, effective July 3, 2010, 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, 2010 are as follows

 

	
Name and Title

	
Base Salary

	  	  
	
John B. Dicus

Chairman, President and Chief Executive Officer

	
$500,000

	  	  
	
R. Joe Aleshire

Executive Vice President

	
$229,500

	  	  
	
Larry K. Brubaker

Executive Vice President

	
$229,500

	  	  
	
Kent G. Townsend

Chief Financial Officer

	
$240,000

	  	  
	
Rick C. Jackson

Executive Vice President

	
$185,000

 

 

 

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.

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 2010 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, and Rick C. Jackson, Executive Vice President and Chief Lending Officer, 40% 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.ex10_8.htm

Capitol Federal Financial

 

 

Exhibit 10.8

 

 

Named Executive Officer Salary and Bonus Arrangements

 

 

Base Salaries

 

 

The base salaries, effective July 3, 2010, 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, 2010 are as follows

 

	
Name and Title

	
Base Salary

	  	  
	
John B. Dicus

Chairman, President and Chief Executive Officer

	
$500,000

	  	  
	
R. Joe Aleshire

Executive Vice President

	
$229,500

	  	  
	
Larry K. Brubaker

Executive Vice President

	
$229,500

	  	  
	
Kent G. Townsend

Chief Financial Officer

	
$240,000

	  	  
	
Rick C. Jackson

Executive Vice President

	
$185,000

 

 

 

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.

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 2010 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, and Rick C. Jackson, Executive Vice President and Chief Lending Officer, 40% 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.ex10x1.htm

Exhibit 10.1

 

 

ASPENBIO PHARMA, INC.

 

AMENDMENT TO 2002 STOCK INCENTIVE PLAN

 

EFFECTIVE NOVEMBER 22, 2010

 

This Amendment No. 3, dated and effective November 22, 2010 (the “Amendment”) is an amendment to the 2002 Stock Incentive Plan, as amended and restated on June 1, 2007 (the “Plan”) of AspenBio Pharma, Inc., a Colorado corporation (the “Company”).  All capitalized terms used in this Amendment without definition have the meanings set forth in the Plan.

 

WHEREAS, Section 20(a) authorizes the Board of Directors of the Company to make amendments to the Plan, subject to shareholder approval as required by law or agreement.

 

WHEREAS, on October 7, 2010, the Board approved an amendment to the Plan to increase the number of shares available for awards under the Plan from 6,100,000 to 6,800,000, and submitted such amendment to the Company’s shareholders for approval at the annual meeting of shareholders held on November 22, 2010.

 

WHEREAS, on November 22, 2010, the shareholders approved the foregoing amendment to the Plan.

 

NOW, THEREFORE, intending to be legally bound, and in accordance with the approvals set forth in the WHEREAS clauses, which are incorporated by reference into this Amendment, the Company amends the Plan as follows:

 

1.           Section 4 of the Plan is deleted in it entirety and is replaced by the following:

 

“4.           The Common Stock.  The Board is authorized to appropriate, issue and sell for the purposes of the Plan, and the Option Committee is authorized to grant Options and Rights to Purchase with respect to, a total number, not in excess of 6,800,000 shares of Common Stock, either treasury or authorized but unissued or the number and kind of shares of stock or other securities which in accordance with Section 16 of this Plan shall be substituted for the 6,800,000 shares or into which such 6,800,000 shares shall be adjusted.  All or any unsold shares subject to an Option or Right to Purchase that for any reason expires or otherwise terminates may again be made subject to Options or Rights to Purchase under the Plan.  No person may be granted Options or Rights to Purchase under this Plan covering in excess of an aggregate of 500,000 Option Shares and shares of Restricted Stock in any calendar year, subject to adjustments in connection with Section 16 of this Plan.”

 

2.           Except as amended by this Amendment, the Plan continues in full force and effect.

 

3.           In the event of a conflict between this Amendment and the Plan, this Amendment shall govern.

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