SEC Contract Filing

Filing Date: 2019-03-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.27
<SEQUENCE>5
<FILENAME>a1027annualincentivepl.htm
<DESCRIPTION>HOMESTREET BANK 2017 PSU INCENTIVE COMP PLAN
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2019 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sB99DDEB2536CEB6539684FB8EAAC77D9"></a></div><div></div><div><br></div><div style="line-height:120%;padding-top:4px;text-align:justify;padding-left:274px;text-indent:9px;-sec-extract:summary;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">HomeStreet Bank</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Performance Based </font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">Annual Incentive Plan</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">Effective as of January 1, 2017</font></div><div style="line-height:120%;text-align:center;-sec-extract:summary;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:9px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">HomeStreet (the &#8220;Company&#8221;) provides annual cash incentive opportunities for eligible employees (&#8220;participants&#8221;) through the use of a performance-based incentive compensation plan (the &#8220;Plan&#8221;). The annual incentive awards will provide a payment based upon attainment of specified goals that align the interests of employees with the interests of the Company.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:9px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Plan will be administered in a manner which is consistent with all applicable federal and state laws and regulations including but not limited to the laws and regulations prohibiting all forms of discrimination.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:9px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;text-decoration:underline;">PARTICIPATION &amp; ELIGIBILITY</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:6pt;"><font style="font-family:Arial;font-size:6pt;"><br></font></div><div style="line-height:120%;padding-top:6px;text-align:left;padding-left:9px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Plan is limited to selected employees of the Company. Each Plan participant shall be notified of eligibility for participation in the Plan. Additional eligibility requirements are the following:</font></div><div style="line-height:120%;padding-top:6px;text-align:left;padding-left:9px;-sec-extract:summary;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:57px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:33px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">New employees must be employed by September 30 in a given Plan Year to be eligible to receive an incentive award related to performance in that Plan Year.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:57px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:33px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Employees hired after September 30 must wait until the next fiscal year to be eligible for an award.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:57px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:33px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Employees who become a Plan participant during the year and work a partial year, will receive pro-rated awards based on the number of months worked during the partial Plan Year.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:57px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:33px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">A Plan participant must be an active employee as of the aw