Common use of Annual Cash Incentive Compensation Clause in Contracts

Annual Cash Incentive Compensation. Executive, if employed on the last day of the calendar year for which any bonus as determined by the Board of Directors is being awarded, shall be eligible for performance-based annual cash and/or stock awards as determined by the Board of Directors in accordance with mutually agreed upon goals and objectives established by the Board of Directors in January of each calendar year this Agreement is in force and effect.

Annual Cash Incentive Compensation. After the Bank's has achieved at least two consecutive quarters of profitability, Executive, if employed on the last day of the calendar year for which any bonus as determined by the Board of Directors is being awarded, shall be eligible for performance-based annual cash and/or stock awards as determined by the Board of Directors in accordance with mutually agreed upon goals and objectives established by the Board of Directors in January of each calendar year this Agreement is in force and effect.

Annual Cash Incentive Compensation. Executive, if employed on the last day of the calendar year for which any bonus as determined by the Board of Directors Boards is being awarded, shall be eligible for performance-based annual cash cash, options and/or stock awards as determined by the Board of Directors Boards in accordance with a mutually agreed upon incentive compensation plan (the "Plan") with goals and objectives established by the Board of Directors Boards in January of each calendar year that this Agreement is in force effect. The Plan must be approved and effectpresented to Executive no later than November 30th of each calendar year beginning November 30, 2008 and shall provide benefits of not less than 15% of the Base Salary.