Document:

Exhibit 10.9

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  COMMUNITY TRUST BANCORP, INC.

  

  

  EMPLOYEE INCENTIVE COMPENSATION PLAN

  

  

  EFFECTIVE JANUARY 1, 2021

  

  

  
    
      

      

      

      

    

    
      

    

  

  INCENTIVE COMPENSATION PLAN

  

  

  

  

  TABLE OF CONTENTS

  

  

  

  

  

  

  

  

  	
          ARTICLE

        	 	
          PAGE

        
	 	 	 
	
                 I

        	
          OBJECTIVES...................................................................

        	
               1

        
	 	 	 
	
                II

        	
          DEFINITIONS.................................................................

        	
               1

        
	 	 	 
	
               III

        	
          ADMINISTRATION OF THE PLAN.............................

        	
               1

          

        
	 	 	 
	
               IV

        	
          PARTICIPANT ELIGIBILITY.......................................

        	
               2

          

        
	 	 	 
	
                V

        	
          PAYMENT TO PARTICIPANTS....................................

        	
               2

          

        
	 	 	 
	
               VI

        	
          DETERMINATION OF ANNUAL AWARD FUND.....

        	
           

               2

          

        
	 	 	 
	
              VII

        	
          CALCULATION OF AWARD........................................

        	
               2

          

        
	 	
           

          Table I – 2021 Incentive Compensation Award................

        	
           

           

               2

          

        
	 	 	 
	
             VIII

        	
          MISCELLANEOUS PROVISIONS................................

        	
               3

          

        
	 	 	 
	 	
          ATTACHMENT A............................................................

        	
               4

          

        

  

  

  

  

  

  

  

  

  

  

  

  

  
    
      

      

      

      

    

    
      

    

  

  
  ARTICLE I

  

  

  OBJECTIVES

  

  

  Section 1.01

  This plan is designed to reward employees 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 shareholders, and its employees,

  

  

  (b)   Motivate and reward employees who contribute to the success of the Company,

  

  

  	

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

        

  

  

  	

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

        

  

  

  	

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

        

  

  

  	

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

        

  

  

  (c) “Company” means Community Trust Bancorp, Inc.

  

  

  	

        	(d)	
          “Compensation Committee” means the Compensation Committee of the Board of Directors.

        

  

  

  	

        	(e)	
          “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.

        

  

  

  	

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

        

  

  

  	

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

        

  

  

  	

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

        

  

  

  	

        	(i)	
          “Plan” shall mean the Company’s Incentive Compensation Plan.

        

  

  

  	

        	(j)	
          “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.

        

  

  

  

  

  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 shall have the President and CEO of the Company 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.

  

  

  
    
      1

      

      

    

    
      

    

  

  

  

  ARTICLE IV

  

  

  PARTICIPANT ELIGIBILITY

  

  

  Section 4.01

  The following group shall participate in the Plan:

  

  

  	

        	(a)	
          Full-time employees who do not participate in another incentive plan.

        

  

  

  Section 4.02

  Voluntary or involuntary termination of full‐time employment of a Participant prior to the payment of incentive compensation awards for an Award
    Period will result in such Participant forfeiting any incentive compensation for that 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

  New employees of the Company shall participate in the Plan so long as eligibility to participate in the Plan 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

  The award payable under the Plan will be paid to participants within thirty days after the close of the Award Period.  Awards are not earned
    until paid to Participants.

  

  

  ARTICLE VI

  

  

  DETERMINATION OF ANNUAL AWARD FUND

  

  

  Section 6.01

  The target award fund as a percentage of employee salaries for an Award Period shall be determined annually by the Compensation Committee of the
    Board of Directors.   The target award may be changed by the Compensation Committee of the Board of Directors at any time at their discretion; provided, however,
      that the target award may not be increased after the 90th day of the year.

  

  

  Section 6.02

  The actual amount of the Incentive Compensation Plan award shall be calculated according to a schedule comparing actual Return on Average Assets
    (ROAA) and Earnings Per Share (EPS) for the Award Period to a pre-determined performance standard.  When performance is above the performance standard, the actual award fund is adjusted upward from the target award fund.

  

  

  

  

  Section 6.03 In the event that either the ROAA or EPS are not
    attained but the target net income is attained, the amount of the award under the Employee Incentive Plan shall be paid at the base level of target performance payment.

  

  

  Section 6.04

  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 6.05

  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

  Employees will earn an award determined by EPS growth and ROAA as shown below:

  

  

  

  

  2021 INCENTIVE COMPENSATION AWARD

  

  

  	
          

            Target

        	
          Award as a % of

          Target Award

        	
          Award as a % of

          Salary

        
	
          ROAA

        	
          EPS

        
	 	
          1.29%

        	
          $3.76

        	
          50%

        	
          2.00%

        
	
          Base

        	
          1.32%

        	
          $3.84

        	
          100%

        	
          4.00%

        
	 	
          1.35%

        	
          $3.93

        	
          106%

        	
          4.25%

        
	 	
          1.38%

        	
          $4.02

        	
          112.5%

        	
          4.50%

        

  

  

  
    	
            •

          	
            For 2021, the targeted (base) ROAA is established as follows: ROAA of 1.32% and EPS of $3.84.

          

  

  

  

  
    	
            •

          	
            For 2021, net income target is $68,521,777.

          

  

  

  

  
    	
            •

          	
            These results are after accrual of the incentive.

          

  

  

  

  
    
      2

      

      

    

    
      

    

  

  

  

  ARTICLE VIII

  

  

  MISCELLANEOUS PROVISIONS

  

  

  Section 8.01

  The Compensation Committee may elect to remove unusual, extraordinary, or non-recurring items from the calculation of ROAA and EPS.

  

  

  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 behalf.

  
    
      3

      

      

    

    
      

    

  

  

  

  ATTACHMENT A

  

  

  NOTICE OF PARTICIPATION

  

  

                                          is eligible for
    participation in the 2021 Plan Year for Community Trust Bancorp, Inc. Incentive Compensation Plan, such participant being subject to all of the terms and conditions of said Plan.

  

  

  BY:  ___________________________________

  

  

  Dated:  ____________________

  
    4Exhibit 10.21

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  COMMUNITY TRUST BANCORP, INC.

  

  

  2021 EXECUTIVE COMMITTEE

  LONG-TERM INCENTIVE COMPENSATION PLAN

   

  

   

  

   

  

  
    
      

      

      

      

    

    
      

  

  

  

  ARTICLE I

  OBJECTIVES

  

  

  Section 1.01

  The 2021 Executive Committee Long-Term Incentive Compensation Plan is designed to reward members of the Executive Committee for Community Trust
    Bancorp, Inc.’s attainment of profitability on a long-term basis and is 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 Community Trust Bancorp, Inc., 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; and

          

  

  
    	
            (d)

          	
            Motivate and reward members of the Executive Committee for their contribution to the long-term
              success of Community Trust Bancorp, Inc.

          

  

  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 Long-Term Incentive
                Plan” or “Plan” means the 2021 Executive Committee Long-Term Incentive Compensation Plan set forth in this document and all amendments thereto.

          

  

  
    	
            (b)

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

          

  

  
    	
            (c)

          	
            “Change
                in Control” shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan.

          

  

  
    	
            (d)

          	
            “Cumulative
                Net Income” shall mean Community Trust Bancorp, Inc.’s cumulative net income for the three (3) years ending December 31, 2023, computed in accordance with generally accepted accounting principles, and giving effect to the accrual
              for payment of all incentive compensation.

          

  

  
    	
            (e)

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

          

  

  

  

  
    	
            (f)

          	
            “Compensation
                Committee” means the Compensation Committee of the Board.

          

  

  
    	
            (g)

          	
            “Disability”
              shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan.

          

  

  
    	
            (h)

          	
            “Effective
                Date” means January 1, 2021, the date on which the Plan becomes effective.

          

  

  
    	
            (i)

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

          

  

  
    	
            (j)

          	
            “Participant”
              means each member of the Executive Committee as of January 1, 2021.

          

  

  
    	
            (k)

          	
            “Performance
                Goal” shall have the meaning set forth in Section 7.01 below.

          

  

  
    	
            (l)

          	
            “Performance
                Period” means the three (3) Fiscal Years beginning on January 1, 2021.

          

  

  
    	
            (m)

          	
            “Performance
                Unit” shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan, with each Performance Unit to have a potential value of $1.00.

          

  

  
    	
            (n)

          	
            “Retirement”
              shall have the meaning specified in the Company’s 2015 Stock Ownership Incentive Plan.

          

  

  
    	
            (o)

          	
            “Salary”
                or “Salaries” means the base salary in effect for each Participant as of the last pay period in December 2021.

          

  

  ARTICLE III

  

  

  ADMINISTRATION OF THE PLAN

  

  

  Section 3.01

  The Compensation Committee shall administer the Plan and employ such 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 in the Plan. The Compensation Committee shall also have the right to interpret the Plan, consistently with the applicable provisions of the 2015 Stock Ownership Incentive Plan, to
    determine the Effective Date, and to approve Participants 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 the Compensation 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 of the Board, President and Chief Executive Officer of the Company to send a written
    notice of such Plan to each Participant, substantially in the form of Attachment A hereto, and to execute and deliver, on behalf of the Company, a Performance Unit Agreement granting Performance Units to the Participant consistent with the Plan. No
    person shall have rights under the Plan until receiving and executing a Performance Unit Agreement, also executed by the Company, substantially in the form of Attachment B hereto.

  

  

  Section 3.06

  All costs and expenses involved in the administration of the 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. Notwithstanding the
    foregoing, after the ninetieth (90th) day of the year, the Performance Goals specified in Section 7.01 of this Plan may not be amended in a manner which would increase the amount of compensation payable pursuant to Performance Units over the
    amount which would have been payable under the Performance Goals previously established for such year.

  

  

  ARTICLE IV

  

  

  PARTICIPANT ELIGIBILITY

  

  

  Section 4.01

  The Participants in the Plan will be the members of the Executive Committee of the Company as of January 1, 2021.

  

  

  Section 4.02

  Voluntary or involuntary termination of full-time employment of a Participant prior to the expiration of the Performance Period will result in
    such Participant forfeiting any payment for Performance Units for the Performance Period, except as provided in Sections 4.03 and 4.04 below.

  

  

  Section 4.03

  In the case of termination of employment by reason of death, Disability, or Retirement of a Participant prior to the expiration of the
    Performance Period, any then outstanding Performance Units of such Participant shall be payable in an amount equal to the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by a percentage equal to the
    percentage that would have been earned under the terms of the Performance Unit Agreement assuming that the rate at which the Performance Goal set forth in Section 7.01 below has been achieved, as of the date of such termination of employment, would
    have continued until the end of the Performance Period.

  

  

  Section 4.04

  If, within the 24-month period beginning on the date of a Change in Control, a Participant’s employment is terminated other than for Cause or
    by Participant for Good Reason (“Change in Control Termination Event”), any then outstanding Performance Units shall become fully vested and payable as soon as reasonably practicable, but no later than seventy-four (74) days following the Change in
    Control Termination Event, in an amount which is equal to the greater of (a) the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by a percentage equal to the percentage that would have been earned under
    the terms of the Performance Unit Agreement assuming that the rate at which the Performance Goal has been achieved as of the date of such Change in Control would have been continued until the end of the Performance Period; or (b) the maximum amount
    payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by the percentage of the Performance Period completed by the Participant at the time of the Change in Control Termination Event.

  

  

  Section 4.05

  New employees of the Company and persons promoted during the Performance Period who were not eligible to participate in the Plan at the
    beginning of the Performance Period, but have become members of the Executive Committee, shall participate in the Plan so long as such eligibility came into existence no later than six (6) months after the beginning of the Performance Period. If a
    person becomes eligible at a date later than six (6) months into the Performance Period, such person shall not be a Participant under the Plan.

  

  

  ARTICLE V

  

  

  PAYMENTS TO PARTICIPANTS

  

  

  Section 5.01

  The maximum payment in cash or shares that can be made pursuant to Performance Units granted to any one Participant in any calendar year is
    $1,000,000. Subject to this limitation and such terms and conditions as the Compensation Committee may impose, Performance Units shall be payable: (a) within seventy-four (74) days following the end of the Performance Period during which the
    Participant attained at least the minimum acceptable level of achievement under the Performance Goal; or (b) in the event of a Change in Control Termination Event, as soon as reasonably practicable following the Change in Control Termination Event, but
    no later than seventy-four (74) days following the Change in Control Termination Event.

  

  

  Section 5.02

  A Participant may elect to defer payment of all or part of his or her compensation under the Performance Units so long as the Participant
    requests such deferred payment under the terms of the Company’s Voluntary Deferred Compensation Plan; provided, however that such election to defer payment is subject to, and shall be made in accordance with, U. S. Treas. Reg. 1.409A-2(b)(1).

  

  

  

  

  ARTICLE VI

  

  

  DETERMINATION OF TARGET AWARD FUND FOR PERFORMANCE UNITS

  

  

  Section 6.01

  The target award fund shall be generated by a percentage of the Salary of the CTBI Chief Executive Officer, the CTB Chief Executive Officer,
    and the other members of the Executive Committee, respectively. The target award fund shall be computed as shown in Table I below; however, the target award may be changed by the Compensation Committee of the Board of Directors at any time during the
    Performance Period at their discretion; provided, however, that the target award as a percentage of Salary may not be increased after the ninetieth (90th) day of the 2021 calendar year.

  

  

  TABLE I

  

  

  TARGET AWARD FUND

  

  

  
    

    

    	
            PARTICIPANTS

          	
            SALARIES

             

             

          	
            TARGET AWARD

              EXPRESSED AS A

              % OF SALARY

          	
            TARGET AWARD

              FUND

          
	
            CTBI CEO

          	
            $

          	
            X 40%

          	
            $

          
	
            CTB CEO

          	
            $

          	
            X 30%

          	
            $

          
	
            All Other Members of

              the Executive

              Committee

          	
            $

            (aggregate salaries)*

          	
            X 20%

          	
            $

          

    *The aggregate Salaries may be increased to reflect the Salaries of any new members of the Executive Committee to the extent permitted under Section 4.05 above.

  

  

  Section 6.02

  The actual amount of payments under the Performance Units shall be calculated according to a schedule comparing Cumulative Net Income to the
    Performance Goals described in Section 7.01 below. When performance meets established Performance Goals, the award fund will be adjusted according to the table shown in Section 7.01 below.

  

  

  Section 6.03

  Subject to Sections 4.03 and 4.04 above, there shall be a minimum acceptable performance beneath which no amounts may be paid under the
    Performance Units (sometimes referred to as the “threshold”) and a maximum performance above which there is no additional amount paid to avoid excessive payout in the event of windfall profits. Such minimum and maximum may be 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 ninetieth (90th) day of the 2021 calendar year.

  

  

  

  

  ARTICLE VII

  

  

  CALCULATION OF PERFORMANCE UNIT PAYMENTS

  

  

  Section 7.01

  The amount payable to the Participants under the Performance Units is determined based on Cumulative Net Income, as shown in Table II below:

  

  

  TABLE II

  

  

  2021 PERFORMANCE GOALS

  

  

  
    

    

    	
            CUMULATIVE NET

              INCOME

          	
            Award as a % of

              Target Award

          	
            Award as a % of

              CTBI Chief Executive

              Officer Salary

          	
            Award as a % of CTB CEO

            Salary

          	
            Award as a %

              of Salary of All

              Other

              Members of

              the Executive

              Committee

          
	
            90% of Target Cumulative Net Income (Minimum)

          	
            25%

          	
            10.0%

          	
            7.50%

          	
            5.0%

          
	
            93% of Target Cumulative

            Net Income

          	
            50%

          	
            20.0%

          	
            15.0%

          	
            10.0%

          
	
            96% of Target Cumulative

            Net Income

          	
            75%

          	
            30.0%

          	
            22.5%

          	
            15.0%

          
	
            Target Cumulative Net Income (Per Schedule 1)

          	
            100%

          	
            40.0%

          	
            30.0%

          	
            20.0%

          
	
            103% of Target Cumulative Net Income

          	
            120%

          	
            48.0%

          	
            36.0%

          	
            24.0%

          
	
            107% of Target Cumulative Net Income

          	
            135%

          	
            54.0%

          	
            40.5%

          	
            27.0%

          
	
            110.0% of Target Cumulative Net Income

            (Maximum)

          	
            150%

          	
            60.0%

          	
            45.0%

          	
            30.0%

          

  

  

  

  

  ARTICLE VIII

  

  

  MISCELLANEOUS PROVISIONS

  

  

  Section 8.01

  The Compensation Committee may elect to remove unusual, extraordinary or non-recurring items from the calculation of Cumulative Net Income.

  

  

  Section 8.02

  Payments pursuant to the Performance Units shall be subject to recoupment by the Company to the extent required by applicable laws and
    regulations.

  

  

  Section 8.03

  The Company shall not merge into or consolidate with another entity or sell 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 amounts earned under Performance Units but not yet paid to the Participant.

  

  

  
    
      

      

      

      

    

    
      

    

  

  

  

  SCHEDULE A

  2021 Plan

  CUMULATIVE NET INCOME TARGETS

  

  

  
    

    

    	
            CUMULATIVE NET INCOME TARGETS

          	
            % OF UNITS EARNED

          
	 	
            $194 Million

          	
            25%

          
	 	
            $201 Million

          	
            50%

          
	 	
            $207 Million

          	
            75%

          
	
            Target

          	
            $216 Million

          	
            100%

          
	 	
            $225 Million

          	
            120%

          
	 	
            $231 Million

          	
            135%

          
	 	
            $238 Million

          	
            150%

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