Document:

exv10w15

 

Exhibit 10.15

Executive Long Term Incentive Plan

Approved by the Executive/Compensation Committee 1/23/07

The Executive Long Term Incentive Plan, as approved by the Board of Directors on July 31, 1999,
delegates to the Compensation Committee the authority to approve the Measurement Period, the
Employee Participants, the Performance-Based Cash Awards, the Performance Goals, and the Payment of
Awards. See the Plan for additional requirements.

	A.	 	The Measurement Period is the 3-year period from 1/01/2007 through 12/31/2009, and the
Performance-Based Cash Awards, if any, will be granted every other year according to the
following schedule:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2003	 	2004	 	 	2005	 	 	2006	 	 	2007	 	 	2008	 	 	2009	 	 	2010	 
	Award
	 	Award	 	Vest	 	Payment	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	Award	 	Award	 	Vest	 	Payment	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Award	 	Award	 	Vest	 	Payment

	B.	 	Employee Participants:

	 	 	 
	CEO:

	 	Charles E. Snyder
	 
	 	 
	Other Participants:

	 	Steven Brookner

Patrick N. Connealy

Charles H. Hackman

Michele Fantt Harris

Mark Hiltz

Andrew Kho

Kathleen Luzik

Richard L. Reed

Russell J. Schofield

Terry Simonette
	 
	 	 
	Fellows:

	 	Mary Ann Donovan

Casey Fannon

	C.	 	Performance-Based Cash Award Potential:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Annualized Award Opportunity at Select Performance	 
	as a percent of Base Salary not including the Low Income Adjustment	 
	 	 	Threshold	 	 	Target	 	 	Superior	 
	CEO
	 	 	20	%	 	 	50	%	 	 	70	%
	Other Participants
	 	 	15	%	 	 	30	%	 	 	50	%

Fellows participate at one-half of the award potential of Other Participants.

	D.	 	The Payment of Awards shall be made no later than 90 days after the end of the Measurement
Period.

 

NCB Executive Long-Term Incentive Plan

Measurement Period 1/1/07 — 12/31/09

	E.	 	Performance Goals used to compute potential Performance-Based Cash Awards:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	PERFORMANCE GOALS	 	 	 	 	 	Goals and Awards for the CEO
	1/1/07 – 12/31/09	 	Weight	 	 	 	Threshold	 	Target	 	Superior
	 
	Financial Strength: Average ROE at NCB,
FSB over three
years.

	 	 	50	%	 	Goal
	 	13.5% Average ROE
	 	15% Average ROE
	 	16.5% Average ROE
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Award
	 	10% of Salary
	 	25% of Salary
	 	35% of Salary
	 
	Value to Customers: Total commitments
and financial
transactions
arranged for
customers including
loans, leases,
letters of credit,
private placements,
and deals closed by
referral sources.

	 	 	25	%	 	Goal
	 	$5.5 billion 2007
through 2009
	 	$6 billion 2007
through 2009
	 	$7 billion 2007
through 2009
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Award
	 	5% of Salary
	 	12.5% of Salary
	 	17.75% of Salary
	 
	Deposit Growth: From the base
levels at 12/31/06,
increase deposits
over three years
with at least $50
million of total
deposits in
non-interest
bearing DDA
(excluding escrows
for saleable real
estate loans.)

	 	 	25	%	 	Goal
	 	75% Increase
	 	125% Increase
	 	150% Increase
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Award
	 	5% of Salary
	 	12.5% of Salary
	 	17.75% of Salary
	 
	 

	 	 	100	%	 	 	 	20% of Salary
	 	50% of Salary
	 	70% of Salary
	 
	Adjustment for Low Income Market Development
	 	-15% of Total Award	 	+0%	 	+25% of Total Award
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	PERFORMANCE GOALS	 	 	 	 	 	Goals and Awards for Other Participants
	1/1/0 7– 12/31/09	 	Weight	 	 	 	Threshold	 	Target	 	Superior
	 
	Financial Strength: Average ROE at NCB,
FSB over three
years.

	 	 	50	%	 	Goal
	 	13.5% Average ROE
	 	15% Average ROE
	 	16.5% Average ROE
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Award
	 	7.5% of Salary
	 	15% of Salary
	 	25% of Salary
	 
	Value to Customers: Total commitments
and financial
transactions
arranged for
customers including
loans, leases,
letters of credit,
private placements,
and deals closed by
referral sources.

	 	 	25	%	 	Goal
	 	$5.5 billion 2007
through 2009
	 	$6 billion 2007
through 2009
	 	$7 billion 2007
through 2009
	 	 	 	 	 	 	 
	

	 	 	 	 	 	Award
	 	3.75% of Salary
	 	7.5% of Salary
	 	12.5% of Salary
	 
	Deposit Growth: From the base
levels at 12/31/06,
increase deposits
over three years
with at least $50
million of total
deposits in
non-interest
bearing DDA
(excluding escrows
for saleable real
estate loans.)

	 	 	25	%	 	Goal
	 	75% Increase
	 	125% Increase
	 	150% Increase
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Award
	 	3.75% of Salary
	 	7.5% of Salary
	 	12.5% of Salary
	 
	Totals

	 	 	100	%	 	 	 	15% of Salary
	 	30% of Salary
	 	50% of Salary
	 
	Adjustment for Low Income Market Development
	 	-15% of Total Award	 	+0%	 	+25% of Total Award
	 

	F.	 	Adjustment for Low Income Market Development

The Committee may make an adjustment as indicated above for low income market development based
upon its assessment of: management’s efforts to achieve the annual “best efforts” evaluation in the
Bank Act; a recommendation from the Low Income Committee of the Board of Directors; and other
actions such as achieving high low income volume, being instrumental in formulating a high impact
public policy, facilitating the development of an innovative transaction or program, and/or
enabling access to resources for an underserved segment.

2exv10w32

 

Exhibit 10.32

Approved by the Compensation Committee 1/19/05

EXECUTIVE MANAGEMENT

SHORT TERM INCENTIVE PLAN for 2005

1. PROFITABLY GROW CORE ASSETS (25 Points)

	 	A.	 	10 points for originating $1.5 billion of transactions during the year
including booked commitments for loans, leases, placements, and deals closed by
referral sources, plus one additional point up to a maximum of 5 points for each $50
million of portfolio loan growth in excess of the budget.
	 
	 	B.	 	10 points for meeting pretax net income budget.
	 
	 	C.	 	5 points for 12.5% increase over 2004 cross-selling referrals.

2. STRENGTHEN ENTERPRISE RISK MANAGEMENT (25 Points)

	 	A.	 	5 points for achieving the Board approved asset and liability management
objectives by operating in the “green range” for a minimum of 90% of the measurements
during the year and crossing into the “red range” not more than once during the year.
	 
	 	B.	 	5 points for the average percentage of non-performing assets (non-accruing
and OREO) of 1.5% or less of total loans and LC’s plus an additional 5 points if the
ratio is 1% or less with a reduction of 5 points if net charge offs exceed .5%.
	 
	 	C.	 	10 points for satisfactory evaluations from Loan Review, auditors, FCA, OTS,
and regulatory compliance (SOX and others.)
	 
	 	D.	 	5 points for exceeding regulatory well capitalize standards for total
risk-based capital.

3. DEVELOP NEW PRODUCTS, MARKETS, AND BUSINESSES (15 Points)

	 	A.	 	5 points for strengthening CSI model
	 
	 	B.	 	5 points for aligning reward system through balanced scorecards and
management reporting
	 
	 	C.	 	5 points for establishing team based innovation standards

4. SUCCESFULLY IMPLEMENT MISSION BANKING STRATEGY (15 Points)

	 	A.	 	7.5 points for “best efforts” evaluation; and for originating and arranging
low-income transactions of $268 million during the year, plus one point up to a
maximum of 5 points for each $5 million in excess of the goal.
	 
	 	B.	 	7.5 points for implementation of Mission Banking strategy.

 

 

Executive Management Short Term Incentive Plan for 2005

Page 2

5. CREATE BRAND AWARENESS AND DEVELOP A STRATEGY TO MANAGE BRAND (10 Points)

	 	A.	 	Develop a customized brand strategy (Contractor deliverable) and then
establish the framework for and the organizational competency for brand management.

6. LEADERSHIP (10 Points)

	 	A.	 	5 points for meeting objectives in the strategic plan for employee retention,
diversity, internal promotions, and Organizational Development.
	 
	 	B.	 	5 points for increasing number of shareholders by 60.

AWARD LEVELS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Incentive Award as a Percentage
	 	 	of Year End 2005 Base Salary
	Points	 	 	 	 	 	Executive Council	 	CEO
	50 - 64.9
	 	Up to	 	 	15	%	 	 	20	%
	65 - 79.9
	 	Up to	 	 	25	%	 	 	30	%
	80 - 89.9
	 	Up to	 	 	30	%	 	 	40	%
	90 and over
	 	Up to	 	 	35	%	 	 	45	%

In addition, an “Add-on” award may be earned by exceeding the pretax net income budget
goal. The maximum additional award is 5% of salary for the CEO and 7.5% of salary for the
Executive Council. For each 1% that pretax net income exceeds goal, 1% of salary is added
to the award earned for achievement of the other goals, up to a maximum total award of 50%
of salary for the CEO and 42.5% of salary for the Executive Council. .

The CEO determines incentive awards for each Executive Council participant based upon the
results of this plan and the achievement of individual performance objectives. The
Compensation Committee determines the award for the CEO.

PARTICIPANTS

Brookner, Connealy, Hackman, Harris, Hiltz, Kho, Luzik, Reed, Schofield, Simonette, and
Snyderexv10w35

 

Exhibit 10.35

Approved by the Board of Directors 2/3/06

EXECUTIVE MANAGEMENT

SHORT TERM INCENTIVE PLAN for 2006

1. PROFITABLY GROW CORE ASSETS (30 Points)

	 	A.	 	10 points for originating $1.8 billion of transactions during the year
including booked commitments for loans, leases, placements, and deals closed by
referral sources, plus one additional point up to a maximum of 5 points for each $50
million of portfolio loan growth in excess of the budget.
	 
	 	B.	 	5 points for meeting pretax net income budget (excluding NCBDC contribution.)
	 
	 	C.	 	5 points for 12.5% increase over 2005 cross-selling referrals.
	 
	 	D.	 	10 points for achieving budgeted core efficiency ratio (that excludes excess
sale gains, unbudgeted operating expenses that generate new sources of revenue, and
NCBDC contribution.)

2. STRENGTHEN ENTERPRISE RISK MANAGEMENT (20 Points)

	 	A.	 	5 points for achieving the Board approved asset and liability management
objectives by operating in the “green range” for a minimum of 90% of the measurements
during the year and crossing into the “red range” not more than once during the year.
	 
	 	B.	 	5 points for the average percentage of non-performing assets (non-accruing
and OREO) of 1.5% or less of total loans and LC’s plus an additional 5 points if the
ratio is 1% or less with a reduction of 5 points if net charge offs exceed .5%.
	 
	 	C.	 	5 points for satisfactory evaluations from Loan Review, auditors, FCA, OTS,
and FIDICA compliance.
	 
	 	D.	 	5 points for development of a long term IT strategy.

3. DEVELOP NEW PRODUCTS, MARKETS, AND BUSINESSES (15 Points)

	 	A.	 	15 points for achieving a breakthrough innovation.

4. SUCCESFULLY IMPLEMENT MISSION BANKING STRATEGY (10 Points)

	 	A.	 	5 points for “best efforts” evaluation; and for originating and arranging
low-income transactions of $302 million during the year, plus one point up to a
maximum of 5 points for each $5 million in excess of the goal.
	 
	 	B.	 	5 points for achieving 2006 Mission Banking goals.

 

 

Executive Management Short Term Incentive Plan for 2006

Page 2

5. CREATE BRAND AWARENESS AND DEVELOP A STRATEGY TO MANAGE BRAND (10 Points)

	 	A.	 	10 points for achieving 2006 brand strategy milestones.

6. LEADERSHIP (15 Points)

	 	A.	 	5 points for meeting objectives in the strategic plan for employee retention,
diversity, internal promotions, and Organizational Development.
	 
	 	B.	 	10 points for making significant progress on commercial bank charter
conversion or acquisition of a commercial bank.

AWARD LEVELS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Incentive Award as a Percentage
	 	 	of Year End 2006 Base Salary
	Points	 	 	 	 	 	Executive Council	 	CEO
	50 - 64.9
	 	Up to	 	 	15	%	 	 	20	%
	65 - 79.9
	 	Up to	 	 	25	%	 	 	30	%
	80 - 89.9
	 	Up to	 	 	30	%	 	 	40	%
	90 and over
	 	Up to	 	 	35	%	 	 	45	%

In addition, an “Add-on” award may be earned by exceeding the pretax net income budget
goal. The maximum additional award is 5% of salary for the CEO and 7.5% of salary for the
Executive Council. For each 1% that pretax net income exceeds goal, 1% of salary is added
to the award earned for achievement of the other goals, up to a maximum total award of 50%
of salary for the CEO and 42.5% of salary for the Executive Council.

The CEO determines incentive awards for each Executive Council participant based upon the
results of this plan and the achievement of individual performance objectives. The
Compensation Committee determines the award for the CEO.

PARTICIPANTS

Brookner, Connealy, Donovan, Fannon, Hackman, Harris, Hiltz, Kho, Luzik, Reed, Schofield,
Simonette, and Snyder

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