Document:

Exhibit 4.4

 

AMENDMENT NO. 1 TO
 RIGHTS AGREEMENT

 

This Amendment No. 1, effective as of December 1, 2012 (this “Amendment 1”), amends the Rights Agreement, dated as of July 5, 2012 (the “Rights Agreement”), between Christopher & Banks Corporation (the “Company”), and Wells Fargo Bank, National Association (“Wells Fargo”).  Capitalized terms used herein but not defined herein shall have their defined meanings set forth in the Rights Agreement.

 

WHEREAS, effective the close of business November 30, 2012, the Company is removing Wells Fargo as the Rights Agent under the Rights Agreement pursuant to Section 21 of the Rights Agreement, and hereby desires to appoint Broadridge Corporate Issuer Solutions, Inc. (“Broadridge”) as the successor Rights Agent; and

 

WHEREAS, the Company now desires to amend the Rights Agreement as set forth in this Amendment.

 

NOW, THEREFORE, the parties hereto hereby agree as follows:

 

1.                                      Broadridge is hereby appointed as the Rights Agent under the Rights Agreement, and shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as Rights Agent.  All references in the Rights Agreement to Wells Fargo Bank, National Association as Rights Agent shall be deemed to refer instead to Broadridge Corporate Issuer Solutions, Inc. as Rights Agent.

 

2.                                      Section 26 of the Rights Agreement is hereby amended to replace the address of the Rights Agent for notices with the following:

 

Broadridge Corporate Issuer Solutions, Inc.

1717 Arch Street

Suite 1300

Philadelphia, PA 19103

Attention:  Corporate Actions Department

 

With a copy to:

 

Broadridge Financial Solutions, Inc.

2 Journal Square Plaza

Jersey City, NJ 07306

Attention:  General Counsel

 

3.                                      Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations,

 

 

covenants or agreements contained in the Rights Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected.

 

4.                                      This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, United States of America, applicable to contracts made and to be performed entirely within such State, without regard to conflict-of-law principles.

 

5.                                      This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.  A signature to this Amendment transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the day and year first above written.

 

 

	
 
    	
 
    	
Christopher &   Banks Corporation
    
	
 
    	
 
    	
 
    
	
Attest:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Sandra L. Miller
    	
 
    	
 
    	
By:
    	
/s/   Luke R. Komarek
    
	
Name:   Sandra L. Miller
    	
 
    	
 
    	
Name:
    	
Luke   R. Komarek
    
	
Title:   Legal Executive Assistant
    	
 
    	
 
    	
Title:
    	
Senior   Vice President, General Counsel
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
BROADRIDGE   CORPORATE ISSUER SOLUTIONS, INC., as Rights Agent
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Attest:
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
/s/   John P. Dunn
    	
 
    	
 
    	
By:
    	
/s/   James O’Regan
    
	
Name:   John P. Dunn
    	
 
    	
 
    	
Name:
    	
James   O’Regan
    
	
Title:   Vice President
    	
 
    	
 
    	
Title:
    	
Vice   PresidentEXHIBIT 10.1

 

MARK MCDONOUGH COMPENSATION ARRANGEMENT

 

On March 29, 2013, the Compensation Committee of CombiMatrix Corporation (the “Company”) approved a new compensation arrangement for Mark McDonough in connection with his new role as the Company’s President and Chief Executive Officer.

 

Under the new compensation arrangement, Mr. McDonough’s will receive an annual base salary of $260,000, less all applicable withholding taxes and payable in accordance with the Company’s standard payroll practices and policies.  Mr. McDonough also will be entitled to receive a one-time cash bonus payment of $10,000 when and if the Company achieves “break-even” for one fiscal quarter within eighteen months following March 29, 2013 (the “Effective Date”), as measured by the consolidated earnings of the Company and any subsidiaries of the Company prior to any reduction in respect of interest, taxes, depreciation and amortization determined in accordance with GAAP by the Company’s independent accountants (“Break-Even EBITDA”), less all applicable withholding taxes and payable in accordance with the Company’s standard payroll practices and policies, which bonus will be paid to Mr. McDonough within 30 days after the end of the fiscal quarter in which the Company achieves such Break-Even EBITDA, provided that Mr. McDonough shall have been providing continuous service to the Company through the end of such fiscal quarter.  Mr. McDonough will maintain the 2013 performance-based cash bonus plan (related to Company revenues) from his previous compensation package as Chief Commercial Officer.

 

In addition, on the Effective Date, Mr. McDonough was granted an incentive stock option under the Company’s 2006 Stock Incentive Plan (the “Plan”) to purchase up to 73,450 shares of the Company’s Common Stock (the “Option”), with an exercise price equal to the closing sales price of the Company’s Common Stock on the Nasdaq Stock Market as of the Effective Date.  The Option has a maximum term of 10 years measured from the Effective Date, subject to earlier termination pursuant to the provisions of the Plan and related agreements, and will vest in four successive equal annual installments as Mr. McDonough completes each of four years of continuous service measured from March 29, 2013.  The Option is exercisable for vested shares only and is subject to all other terms and conditions of the Plan.  Mr. McDonough also was granted, on the Effective Date, a performance-based incentive stock option under the Plan to purchase up to 58,760 shares of the Company’s Common Stock (the “Performance Based Option”), with an exercise price equal to the closing sales price of the Company’s Common Stock on the Nasdaq Stock Market as of the Effective Date.  If this target is not achieved within eighteen months following the Effective Date, the Performance Based Option will expire.  The Performance Based Option has a maximum term of 10 years measured from the Effective Date, subject to earlier termination pursuant to the provisions of the Plan and related agreements, and will vest in full when, and if, the Company achieves Break-Even EBITDA for one fiscal quarter within eighteen months following the Effective Date.  The Performance Based Option is exercisable for vested shares only and is subject to all other terms and conditions of the Plan.  Mr. McDonough also will maintain the relocation reimbursement and healthcare plan from his previous compensation package as Chief Commercial Officer and this relocation offer will remain in effect for two years from the Effective Date, provided that he continues to provide service to the Company during such time.Exhibit 10.1

 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE INDICATED BY INCLUSION OF THE SYMBOL *.  A COMPLETE UNREDACTED VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

Eagle Bancorp, Inc.

Senior Executive Annual Incentive Plan

 

Performance Year 2012

 

 

EagleBank Executive Annual Incentive Plan

Plan Document and Administrative Guidelines

 

This Annual Incentive Plan is for the Executive Management Team of EGBN.  The annual incentive plan is designed to compensate plan participants for the attainment of specified overall bank and individual goals.  The objective is to align the interests of senior executives with the interests of the Bank in obtaining superior financial results.

 

The Plan operates on a calendar year basis (January 1st to December 31st).  This same calendar year is the performance-period for determining the amount of incentive awards to be paid following year end.

 

PERFORMANCE CRITERIA

 

·              Bank Performance - For all plan participants, a significant portion of the annual incentive will be based on overall bank performance.  The Compensation Committee will approve bank wide goals for each senior staff member on an annual basis.  In addition, they will review the Bank’s annual incentive programs to ensure they do not encourage risky behavior.

 

·              Strategic Performance - All participants are encouraged to work towards our strategic plan and ten percent (10%) up to Thirty percent (30%) of the annual incentive will be based on achievement of bank strategic goals.

 

·              Individual Performance - For all participants,  individual performance as determined by annual performance evaluations will be used to determine at least twelve and a half percent (12.5%) of the plan participant’s incentive payout.

 

PERFORMANCE STANDARDS

 

For each performance factor (Overall Bank, and Individual), an appropriate standard of performance must be established with three essential performance points:

 

·              Threshold Performance:  That level of performance for each factor below which no award will be given.  Threshold performance will be 85% of target expectations.

 

·              Target Performance:  The level of performance for each factor at budgeted goals.  The budgeted, or expected, level of performance is based upon historical data, and management’s best judgment as to expected performance during the upcoming performance period.  The Compensation Committee will approve bank wide goals on an annual basis.

 

·              Maximum Expected Performance:  The maximum performance level is 115% of target.  There will be no payouts above the maximum level.

 

PLAN PAYOUTS

 

The Net Operating Income, Threshold level, must be met for there to be any payment made for the Bank Performance and Strategic Performance categories.  Participants will still be eligible to receive a payout for Individual Performance.

 

 

After all performance results are available at year-end, the awards will be calculated for each Plan participant and approved by the CEO, and Compensation Committee.  The Compensation Committee will reserve the discretion to pay out annual incentives in cash or stock.

 

The actual award payouts will be calculated using a ratable approach, where award payouts are calculated as a proportion of minimum, target and maximum award opportunities.  If actual performance falls between a performance level, the payout will also fall between the pre-defined performance level on a pro-rated basis.  A Plan participant must be an employee at the time of the award payout in order to receive a payout.  The result of the performance criteria is calculated as a percent of base salary for participants during the current Plan year.  Plan payouts will be made no later than 2.5 months after the year end.

 

EGBN has the right to recover any incentive payments that were made based on material misstatements or inaccurate performance metrics.

 

PLAN ADMINISTRATION

 

Responsibilities of the Compensation Committee:  The Compensation Committee has the responsibility to approve, amend, or terminate the Plan as necessary.  The actions of the Compensation Committee shall be final and binding on all parties.  The Compensation Committee shall also review the operating rules of the Plan on an annual basis and revise these rules if necessary.  The Compensation Committee also has the sole ability to decide if an extraordinary event(1) totally outside of management’s influence, be it a windfall or a shortfall, has occurred during the current Plan year, and whether the figures should be adjusted to neutralize the effects of such events.  After approval by the Compensation Committee, management shall, as soon as practical, inform each of the Plan participants under the Plan of their potential award under the operating rules adopted for the Plan year.

 

Responsibilities of the CEO:  The CEO of the Company administers the program directly and provides liaison to the Compensation Committee, including the following specific responsibilities: recommend the Plan participants to be included in the Plan each year.  This includes determining if additional employees should be added to the Plan and if any Plan participants should be removed from participating in the Plan.  Provide recommendations for the award opportunity amounts at threshold, target and maximum for tiers II and below.  The CEO will review the objectives and evaluations, adjust guideline awards for performance and recommend final awards to the Compensation Committee.  Provide other appropriate recommendations that may become necessary during the life of the plan.  This could include such items as changes to Plan provisions.

 

Amendments and Plan Termination:  The Company has developed the Plan on the basis of existing business, market and economic conditions, current services, and staff assignments.  If substantial changes occur that affect these conditions, services, assignments, or forecasts, the Company may add to, amend, modify or discontinue any of the terms or conditions of the Plan at any time with approval from the Compensation Committee.  The Compensation Committee may, at its sole discretion, terminate, change or amend any of the Plan as it deems appropriate.

 

MISCELLANEOUS

 

Reorganization:  If the Company shall merge into or consolidate with another company, or reorganize, or sell substantially all of its assets to another company, firm, or person such succeeding or continuing company, firm, or person shall succeed to, assume and discharge the obligations of the Company under this Plan.  Upon the occurrence of such event, the term “Company” as used in this Plan shall be deemed to refer to the successor or survivor company.

 

 

Tax Withholding:  The Company shall withhold any taxes that are required to be withheld from the benefits provided under this Plan.

 

Designated Fiduciary:  The Company shall be the named fiduciary and Plan Administrator under the Plan.  The named fiduciary may delegate to others certain aspects of the management and operation responsibilities of the Plan including the employment of advisors and the delegation of ministerial duties to qualified individuals.

 

No Guarantee of Employment:  This Plan is not an employment policy or contract.  It does not give the Plan participant the right to remain an employee of the Company, nor does it interfere with the Company’s right to discharge the Plan participant.

 

(1) An extraordinary event may include a merger, acquisition or divestiture that was not outlined in strategic plan, investment gains or losses, changes in capital cost structure, unplanned branch openings, unexpected and strong sales oriented addition to staff, and increase of 50% or more of collection expenses.

 

 

INCENTIVE RANGES, AND AWARD OBJECTIVES

 

Eagle Bancorp, Inc.

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Proposed Incentive Ranges
    	
 
    	
Award Objectives
    	
 
    
	
Tier
    	
 
    	
Name
    	
 
    	
Position
    	
 
    	
Threshold
    	
 
    	
Target
    	
 
    	
Maximum
    	
 
    	
Bank
    	
 
    	
Strategic
    	
 
    	
Dept/Ind*
    	
 
    
	
I
    	
 
    	
Ron   Paul
    	
 
    	
Chairman   and CEO
    	
 
    	
25.0
    	
%
    	
45.0
    	
%
    	
70.0
    	
%
    	
35
    	
%
    	
25
    	
%
    	
40
    	
%
    
	
II
    	
 
    	
Susan   Riel
    	
 
    	
Sr.   EVP & COO of the Bank
    	
 
    	
20.0
    	
%
    	
35.0
    	
%
    	
60.0
    	
%
    	
50
    	
%
    	
25
    	
%
    	
25
    	
%
    
	
III
    	
 
    	
Antonio   Marquez
    	
 
    	
CRE   Chief Lending Officer
    	
 
    	
17.5
    	
%
    	
30.0
    	
%
    	
55.0
    	
%
    	
77.5
    	
%
    	
10.0
    	
%
    	
12.5
    	
%
    
	
III
    	
 
    	
Virginia   Heine
    	
 
    	
C&I   Chief Lending Officer
    	
 
    	
17.5
    	
%
    	
30.0
    	
%
    	
55.0
    	
%
    	
77.5
    	
%
    	
10.0
    	
%
    	
12.5
    	
%
    
	
III
    	
 
    	
James   Langmead
    	
 
    	
Chief   Financial Officer
    	
 
    	
17.5
    	
%
    	
30.0
    	
%
    	
55.0
    	
%
    	
60
    	
%
    	
15
    	
%
    	
25
    	
%
    
	
IV
    	
 
    	
Thomas   Murphy
    	
 
    	
President   Community Banking
    	
 
    	
12.5
    	
%
    	
25.0
    	
%
    	
50.0
    	
%
    	
65
    	
%
    	
10
    	
%
    	
25
    	
%
    
	
IV
    	
 
    	
Janice   Williams
    	
 
    	
Chief   Credit Officer
    	
 
    	
12.5
    	
%
    	
25.0
    	
%
    	
50.0
    	
%
    	
70
    	
%
    	
10
    	
%
    	
20
    	
%
    
	
V
    	
 
    	
Michael   Flynn
    	
 
    	
COO   of Eagle Bancorp
    	
 
    	
10.0
    	
%
    	
20.0
    	
%
    	
40.0
    	
%
    	
45
    	
%
    	
30
    	
%
    	
25
    	
%
    
	
V
    	
 
    	
Larry   Bensignor
    	
 
    	
EVP,   General Counsel
    	
 
    	
10.0
    	
%
    	
20.0
    	
%
    	
40.0
    	
%
    	
75
    	
%
    	
10
    	
%
    	
15
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Percent of Salary
    	
 
    	
Weighting of Award
    	
 
    

 

NOTE:           Threshold, target and maximum payout thresholds have been established for each tier in order to ensure competitive payouts and budget costs associated with this program.

 

 

2012 Senior Staff Goals

 

	
 
    	
 
    	
Paul
    	
 
    	
Riel
    	
 
    	
Murphy
    	
 
    	
Flynn
    	
 
    	
Marquez/
   Heine
    	
 
    	
Langmead
    	
 
    	
Williams
    	
 
    	
Bensignor
    	
 
    	
Target
    	
 
    
	
ROAA
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
ROAE
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Net Operating Income(1)
    	
 
    	
50
    	
%
    	
15
    	
%
    	
15
    	
%
    	
15
    	
%
    	
7.5
    	
%
    	
20
    	
%
    	
10
    	
%
    	
15
    	
%
    	
$
    	
31,670,987
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
NPAs
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
10
    	
%
    	
 
    	
 
    	
25
    	
%
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Strategic Alignment
    	
 
    	
25
    	
%
    	
25
    	
%
    	
10
    	
%
    	
30
    	
%
    	
10
    	
%
    	
15
    	
%
    	
10
    	
%
    	
10
    	
%
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total Loan Growth (Average Balance)(2)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
10
    	
%
    	
 
    	
 
    	
20
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Deposit Growth (Average Balance)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
DDA
    	
 
    	
 
    	
 
    	
 
    	
 
    	
25
    	
%
    	
 
    	
 
    	
12.5
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
MMA
    	
 
    	
 
    	
 
    	
 
    	
 
    	
15
    	
%
    	
 
    	
 
    	
12.5
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Efficiency Ratio
    	
 
    	
 
    	
 
    	
20
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
20
    	
%
    	
10
    	
%
    	
 
    	
 
    	
53.70
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Non Traditional Fee Income (aggregate)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
30
    	
%
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Expenses (Salaries, Benefits, Other Expenses)
    	
 
    	
 
    	
 
    	
15
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    	
73,697,218
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Net Interest Margin
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
15
    	
%
    	
20
    	
%
    	
 
    	
 
    	
 
    	
 
    	
3.97
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Individual Deposits
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
15
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
15
    	
%
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Individual Loans
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
15
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
15
    	
%
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Charge Offs
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
25
    	
%
    	
 
    	
 
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dept/Individual Performance
    	
 
    	
25
    	
%
    	
25
    	
%
    	
25
    	
%
    	
25
    	
%
    	
12.5
    	
%
    	
25
    	
%
    	
20
    	
%
    	
15
    	
%
    	
*
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
100
    	
 
    	
100
    	
 
    	
100
    	
 
    	
100
    	
 
    	
100
    	
 
    	
100
    	
 
    	
100
    	
 
    	
100
    	
 
    	
 
    	
 
    

 

(1)  Net Operating Income available to common shareholders.  Net operating income before preferred dividend — $31,104,988

(2)  Excludes loans held for sale.  Total loans held for sale — $  *.

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